The document discusses the history and formation of the BRICS alliance between Brazil, Russia, India, China and South Africa. It began with the Goldman Sachs report in 2001 predicting these countries' future economic dominance. Political dialogue between the initial BRIC countries began in 2006 and South Africa joined in 2010. The 2014 BRICS summit in Brazil formalized the establishment of the BRICS Development Bank with its headquarters in China and India as the first president. The summit aimed to further economic cooperation between the five emerging economies.

1. Made by Group
9
Uday Gupta,
Shivashish Sharma,
Shresht Sharma,
Shaurya Bamrara
VI-E

2. The First Summit
 The acronym BRIC (for Brazil,
Russia, India, China) was first
used in a Goldman Sachs thesis
projecting that the economic
potential of Brazil, Russia, India
and China is such that they may
become among the five most
dominant economies by the year
2050. Today, the four countries
produce about 15 percent of the
world’s gross domestic product
and hold about 40 percent of the
gold and hard currency reserves.
 Political dialogue between the
BRIC countries began in New
York in September 2006, with a
meeting of the BRIC foreign
ministers. Four high-level
meetings have followed, including
a full-scale meeting in
Yekaterinburg, Russia, on May 16,

3. From BRIC to BRICS
 At the end of 2010, the news that the BRIC forum
would accept South Africa as a full member of the
group caught international media attention, as the
current chair of BRIC, Chinese President Hu
Jintao issued an invitation letter to South African
President Jacob Zuma, inviting him to attend the
third BRIC leaders’ meeting to be held in China in

4. About Brics 2014
 Following the 2013 BRICS summit in Durban, South Africa,
the BRICS countries released a joint statement summarising
the results of their discussions and naming Brazil as the host
country for the 2014 summit. Having agreed to set up a new
international development bank during the 2013 summit, the
member countries intended to complete the arrangements
prior to the 2014 summit. The summit was initially scheduled
for March 2014, but was shifted to a later date at China's

5. Narendra Modi in Bricks 2014
 Prime Minister Narendra Modi attended
his first multi-lateral meet in the form of
sixth BRICS Summit held in Brazil.
Narendra Modi in his two-day meet, met
the International leaders President of Brazil
Dilma Rousseff, President of Russia
Vladimir Putin, President of China Xi
Jinping and President of South Africa
Jacob Zuma. World leaders who met at the
BRICS Summit were seen lavishly heaping
praise on Indian Prime Minister’s persona.
The highlight of the sixth BRICS Summit
was the formation of the new BRICS
Developmental Bank; the headquarters of
the same will be stationed in China, while
India will be its first President. Indian Prime

6. Agenda
 The BRICS Development
Bank was due to be
inaugurated and
Shanghai was selected as
its headquarters. On 15
July, the group signed a
document to create the
US$100 billion BRICS
Development Bank and a
reserve currency pool
worth over another
US$100 billion.
Documents on
cooperation between
BRICS export credit
agencies and an

7. Participants

8. OBJECTIVE OF BRICS
 To achieve regional development
 To remove trade barriers
 Economic development
 Optimum use of resources
 Building relationship

9. ADVANTAGES
 India is also expected to grow faster than China after
2020
 India- Characterized by a low share of consumption
and high savings.
 Rising incomes in the BRICs nations will create a new
middle consumer class
 Featured as- “Roadmap For Contribution”
 Important drivers for growth in the global economy.
 Expansion of their consumer markets and the rise of
multinational companies
 the establishment of a “positive multipolarity" in
international affairs

10. FUTURE PROSPECT
 BRICS will remain a useful mirror
 Brazilian comparisons with China and India in
regards to economic factors
 overcoming current obstacles to higher sustainable
growth
 drive productivity and competitiveness in an
increasingly integrated world economy
 a central role in dealing with global challenges and
threats.

11. THANK
YOU