BRICS for UPSC

📌 BRICS: Story  Origin, Evolution and Expansion 

1. Conceptual Origin (2001)

The term BRIC was coined in 2001 by Jim O’Neill, then Chief Economist at Goldman Sachs.

BRIC stood for Brazil, Russia, India and China.

It was not a political grouping initially.

It was an economic concept suggesting that these four emerging economies would:

Grow faster than advanced economies

Increase their share in global GDP

Become major drivers of global economic growth

➡️ Important UPSC point:

BRIC was originally an investment thesis, not an intergovernmental organisation.

2. Transition from Concept to Political Grouping (2006)

BRIC began transforming into a political and diplomatic grouping in 2006.

First formal interaction (2006):

Foreign Ministers of BRIC countries met on the sidelines of the United Nations General Assembly (UNGA).

Objective of early coordination:

Reform of global governance institutions

Greater voice for emerging economies

Reduction of Western dominance in global financial architecture

3. First BRIC Summit and Institutionalisation (2009)

First BRIC Summit:

Held in 2009 at Yekaterinburg, Russia.

Context:

After the 2008 Global Financial Crisis

Focus areas:

Reform of International Monetary Fund (IMF) and World Bank

Need for a more multipolar global economic order

Greater role for emerging economies in decision-making

4. Inclusion of South Africa and BRICS Formation (2010–2011)

South Africa was invited in 2010.

Group expanded from BRIC to BRICS.

South Africa attended its first summit in 2011 (Sanya, China).

➡️ Significance of South Africa’s inclusion:

Gave BRICS representation from Africa

Enhanced political legitimacy and global outreach

5. Institutional Deepening: New Development Bank (2014)

6th BRICS Summit (Fortaleza, Brazil, 2014):

BRICS countries agreed to establish:

New Development Bank (NDB)

Contingent Reserve Arrangement (CRA)

(a) New Development Bank (NDB)

Purpose:

Finance infrastructure and sustainable development projects

Alternative to:

World Bank–led development finance

Headquarters:

Shanghai, China

(b) Contingent Reserve Arrangement (CRA)

Purpose:

Provide liquidity support during balance-of-payments crises

Complementary to IMF, not a replacement

6. BRICS Expansion (2023–2024)

At the 15th BRICS Summit (Johannesburg, 2023), expansion was announced.

From 1 January 2024, the following countries became members:

Egypt

Ethiopia

Iran

Saudi Arabia

United Arab Emirates (UAE)

Argentina was invited but declined membership in late 2023.

➡️ Result:

BRICS expanded from 5 to 10 members.

7. Current Nature of BRICS (UPSC Synthesis)

BRICS is:

A plurilateral intergovernmental grouping

Not a formal treaty-based organisation

Key objectives:

Reform of global financial institutions

Promotion of multipolar world order

South–South cooperation

Alternative development finance

Decision-making:

Based on consensus

No permanent secretariat (as of now)

🧠 One-Line UPSC Memory Anchor

“BRICS evolved from an investment acronym (2001) to a political grouping (2006), institutionalised via summits (2009), expanded to Africa (2011), created its own bank (2014), and enlarged to 10 members in 2024.”

As of 2026, BRICS consists of 10 full member countries and 10 partner countries. The organization has undergone significant expansion since 2024 to increase its influence in the Global South. 

Full Member Countries (10)

The following countries have full decision-making power within the bloc:

Brazil (Founding member)

Russia (Founding member)

India (Founding member)

China (Founding member)

South Africa (Joined 2010)

Egypt (Joined January 1, 2024)

Ethiopia (Joined January 1, 2024)

Iran (Joined January 1, 2024)

United Arab Emirates (UAE) (Joined January 1, 2024)

Indonesia (Joined January 6, 2025) 

Note on Saudi Arabia: While invited in 2023, Saudi Arabia has delayed its official entry and remains in a period of consideration as of late 2025. 

Partner Countries (10)

Introduced at the 2024 Kazan Summit, this category allows nations to participate in summits and projects without full voting rights. 

Belarus

Bolivia

Cuba

Kazakhstan

Malaysia

Nigeria (Joined as a partner in January 2025)

Thailand

Uganda

Uzbekistan

Vietnam (Joined as a partner in June 2025) 

Key Facts

Global Weight: The expanded BRICS+ group represents approximately 45% of the world's population and roughly 35-37% of global GDP (PPP).

2026 Presidency: India is scheduled to hold the BRICS Chairmanship and host the 18th summit in 2026.

Argentina's Status: Argentina was invited to join in 2024 but officially declined the invitation following a change in government.