BRICS International Forum

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 industrialised 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. As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. Brazil held the chair of the BRICS group in 2014, having hosted the groups sixth summit in 2014. BRICS International Forum was formed during the first BRICS International Forum Meet 2015, New Delhi held on 27-30 January 2015 at Russian Ce...