BRICS is an association of five major emerging economies: Brazil, Russia, India, China, and South Africa, focusing on non-interference and mutual benefit in their bilateral relations. The group aims to address global challenges, reform international financial institutions, and promote economic development through initiatives like the New Development Bank. BRICS provides a platform for its members to enhance regional cooperation and assert their influence on global affairs.

1. UNDER THE GUDIANCE OF : RAMYA MA’AM
PRESENTED BY : NEHAL
NAVYA
NAILA
ANAMIKA.
BAVITHA.
MANCHALI.
STUDENTS FROM: DAYANAND SAGAR COLLEGE OF ENGINEERING.
CLASS- MBA. 2015-16

2. KEY PEOPLE INVOLVED IN BRICS.

3.  BRICS is the acronym for an association of five
major emerging national economies:
Brazil, Russia, India, China and South Africa.
 The grouping was originally known as "BRIC"
before the inclusion of South Africa in 2010..
 The BRICS members are all developing or newly
industrialized countries, but they are distinguished
by their large, fast-growing economies and
significant influence on regional and global affairs;
all five are G-20 members.
 Bilateral relations among BRICS nations have
mainly been conducted on the basis of non-
interference, equality, and mutual benefit (win-
win).

4.  The term "BRIC" was coined in 2001 by then-
chairman of Goldman Sachs Asset Management,
Jim O'Neill, in his publication Building Better
Global Economic BRICs.
 The foreign ministers of the initial four BRIC
states (Brazil, Russia, India, and China) met in
New York City in September 2006 at the margins
of the General Debate of the UN General
Assembly, beginning a series of high-level
meetings.
 A full-scale diplomatic meeting was held in
Yekaterinburg, Russia, on 16 June 2009.

5. Why does the world need the BRICS?
 Jim O’Neill’s point has been that the world is changing. The leading role of the Group of Seven (G7) and, more
broadly, of the Organization for Economic Cooperation and Development (OECD) is no longer undisputed.
 Most multi-lateral institutions were designed in the era when the West dominated the world.
 The US and Europe are over-represented in the IMF and the World Bank. Together with Japan, they control most
regional development banks as well.
 This imbalance has been especially clear during the recent global financial crisis when the need for participation
by non-G7 countries became evident.
 This resulted in reviving the Group of 20 (G20) and proposals to redistribute voting rights in international
financial institutions.
 But change has been slow and Western countries continue to control the international financial institutions.
 These meetings provide a unique forum where non-OECD leaders can discuss global challenges and co-ordinate
their actions within and outside global institutions.
 The small size of the club and the absence of OECD partners helps in shaping the discussions at the summit.

6.  In 2010, South Africa began efforts to join the BRIC
grouping, and the process for its formal admission began in
August of that year.
 South Africa officially became a member nation on 24
December 2010, after being formally invited by the BRIC
countries to join the group.
 The group was renamed BRICS – with the "S" standing for
South Africa – to reflect the group's expanded membership.
 In April 2011, the President of South Africa Jacob Zuma,
attended the 2011 BRICS summit in Sanya, China, as a full
member.
 South Africa is already the voice of the continent at
various international forums.
 It is poised to serve as a base as well as a gateway for
investment from the BRICS countries to the vast market
of a billion Africans.

7. OBJECTIVES OF BRICS:-
1. To achieve regional development.
2. To remove trade barriers.
3. Economic development.
4. Optimum utilization of resources.
5. Building relationship.
6. To improve professional development and education strategies.
7. To be the Platform for peace and security .
8. To improve the technology.

12. Summits
1. Yekaterinburg Summit (2009)
Consensus on improving the global economic situation and reforming financial institutions. BRIC nations
announced the need for a new global reserve currency, which would have to be "diversified, stable and predictable“
2. Brasilia Summit (2010)
South Africa officially became a member nation. Iran and nuclear weapons, development, the furtherance of the
BRIC as an international body, the global economic situation at the time, reform of financial institutions, the
financial G20, and cooperation and issues related to global governance.
3. Sanya Summit (2011)
Economics, anti-terror law under UN auspices , United Nations Security Council reform , decision to cease mutual
trade payments in U.S. dollars and instead henceforth give credits to one another in their national currencies alone.
4. New Delhi summit (2012)
A proposal to create a joint BRICS development bank that would finance investments in developing nations.

13. 5. Durban Summit (2013)
Negotiations for setting up the bank.
6. Fortaleza Summit (2014)
Creation of two financial institutions: the New Development Bank (NDB) to finance infrastructure and “sustainable
development” projects, with $50 billion in capital to start with, and the $100 billion Contingent Reserve
Arrangement (CRA), to tide over members in financial difficulties.
7. Ufa Summit (2015)
The summit coincided with the entry into force of constituting agreements of the New Development Bank and the
BRICS Contingent Reserve Arrangement and during the summit inaugural meetings of the NDB were held, and it
was announced it would be lending in local currency; and open up membership to non-BRICS countries in the
coming months.
8. 8th brics summit(2016)
The 2016 BRICS summit will be the eighth annual BRICS summit, an international relations conference attended
by the heads of state or heads of government of the five member states Brazil, Russia, India, China and South
Africa.
The summit will be held in Panaji, Goa in India, from 15th to 16th October 2016

14.  Importance in India's context
1) India is a very ambitious country. It has high aspirations to become a global super power. This is the first step.
2) Through G4 (Brazil, Germany, India and Japan) and through BRICS it can ask strongly for UNSC reforms to
make India as a Permanent Member. By supporting each other, all these countries can be benefited.
3) India-China strategic ties. Even though India and China have issues regarding borders, Tibet, South China Sea,
Dalai Lama etc., it still supports each other in strategic economic relations. A sustained and steady growth will
help in stability of the world.
4) Through BRICS, the countries can have multilateral relations in their local currencies. Thus, weakening the
"US Dollar". This helps all of them directly as the ForEx is not depleted and their own currencies are
strengthened.
5) They promote South-South cooperation and North-South dialogue. (South represents developing countries and
North represents Developed)

15.  Importance of BRICS in India’s context.
6) Help each other out in fulfilling UN Millennium Development Goals (MDGs).
7) Together they can force reforms in IMF and World Bank. Thanks to BRICS, the current President of WTO is
a Brazilian.
8) BRICS Banks will help in infrastructure development of all countries unlike IMF or World Bank. The
Bretton Woods Institutions(IMF, IBRD etc) need large amounts of gold as collateral on top of structural
economic reforms. Sometimes the poor countries cannot afford such costly loans.
9) The sheer clout and hegemony expressed by these countries will show a strong voice in international
relations and foreign policy issues.
10) BRICS will be a great platform for India where its voice will be heard by all countries.

17.  At the end of the sixth BRICS summit in Brazil on
July 16, 2014, the leaders of the BRICS countries
announced the establishment of the New Development
Bank.
 The first president of the Bank will be from India, the
inaugural chairman of the Board of Directors will be
from Brazil and the inaugural chairman of the Board
of Governors will be a Russian.
 It was stressed in the summit that the BRICS Bank
would be organized on the basis of equality, unlike the
IMF and the World Bank where the leader of the IMF
is always a European and the head of the World Bank
is always a U.S. citizen.

18.  The New Development Bank will begin with 50
billion U.S. dollar, divided equally between the
five countries.
 The BRICS Bank started lending in 2016.
 In order to be a platform to the poorer countries,
the BRICS Bank will open its membership to
other nations other than the five BRICS
members.
 In simple terms, the New Development Bank
will challenge the role of the World Bank in the
current international system.

19. Strength of the BRICS Bank
1- To get cost advantages.
2- To use resources.
3-Market opportunities.
4-Economic developments.
Weakness of the BRICS Bank
1- Population problem.
2- lack of Infrastructure.
3- Decreasing GDP growth rate.

20. Opportunities of the BRICS Bank
1- To expand the market.
2- To use the regional development.
3- To use the monetary resources.
Threats of the BRICS Bank
1-Financial crises.
2- Threats from other unions.

21. Achievements of BRICS Nation.
1. Development of brics bank.
2. Reducing the rural/urban gap.
3. Maintaining macro economic stability.
4. Managing supply chain.
5. Contribution to manufacturing ,services , agriculture.
6. Mining benification and health care services.

22. ADVANTAGES OF BRICS
1.India is also expected to grow faster than China after 2020.
2.Rising incomes in the BRICS nations will create a new middle consumer class.
3.Featured as- Roadmap for contribution.
4.Imporatant drivers for growth in the global economy.
5. Expansion of their consumer markets and the rise of multinational companies .
6. The establishment of a positive multipolarity in international affairs.

23. DISADVANTAGES OF BRICS
1. Lost speed and altitude over the past two years.
2. Chances of intra trade disputes are high
3. Difficulties of articulating their conflicting interests in some sort of common
vision became more evident.
4. Different viewpoints and influence in the international arena.

24. Thank you.