BRICS: Formation, Evolution, Members, Objectives, and Global Significance
Relevant for UPSC Prelims GS Paper 2 (International Relations and Groupings) and GS Paper 3 (Indian Economy – Economic Cooperation and Economic Development).
Introduction
BRICS is an acronym referring to a group of major emerging economies—Brazil, Russia, India, China, and South Africa—that together represent a significant portion of the world’s population, landmass, and economic output. Originally coined as “BRIC” by Goldman Sachs economist Jim O’Neill in 2001, the term was intended to identify these fast-growing economies poised to reshape the global economic order by 2050. South Africa’s inclusion in 2010 expanded the group to BRICS.
From informal dialogue to a formal diplomatic and economic coalition, BRICS has evolved into a key geopolitical bloc advocating multipolar global governance, economic cooperation among developing nations, and reform of international institutions to better reflect the interests of the Global South.
Historical Evolution and Formation
The BRIC grouping originated in 2001 based on the observation that Brazil, Russia, India, and China were poised for rapid economic growth with considerable influence on the world’s future economic landscape. The term was popularized by Jim O’Neill’s research which forecasted them becoming dominant players by mid-21st century.
Informal diplomatic interactions began in 2006 with BRIC foreign ministers meeting at the margins of the UN General Assembly, followed by the first formal BRIC summit in 2009 in Yekaterinburg, Russia. South Africa joined in 2010, bringing the acronym to BRICS and marking the group’s formal expansion.
By 2024–25, the group further expanded to include six new members—Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates—broadening its geographical footprint to include Africa, the Middle East, and Southeast Asia. This expansion reflects BRICS’ aspiration to represent a larger segment of the Global South and strengthen its collective geopolitical weight.
Members of BRICS
| Member Country | Year Joined | Regions Covered |
|---|---|---|
| Brazil | 2001 | South America |
| Russia | 2001 | Eurasia |
| India | 2001 | South Asia |
| China | 2001 | East Asia |
| South Africa | 2010 | Africa |
| Egypt | 2024 | North Africa |
| Ethiopia | 2024 | East Africa |
| Iran | 2024 | Middle East |
| Indonesia | 2025 | Southeast Asia |
| Saudi Arabia | 2024 | Middle East |
| United Arab Emirates | 2024 | Middle East |
These countries collectively represent nearly 49.5% of the world’s population, about 40% of global GDP, and close to 26% of global trade, making BRICS a powerhouse of global economic influence.
Objectives and Pillars of BRICS
BRICS functions as an informal diplomatic and economic coalition with three foundational pillars:
- Political and Security Cooperation: BRICS coordinates on global issues such as reforming the United Nations Security Council, advocating for a multipolar world order, and combating terrorism and extremism.
- Economic and Financial Cooperation: The group seeks to strengthen trade, investment, infrastructure financing, and sustainable development. Key institutions include the New Development Bank (NDB), established in 2015, to fund infrastructure projects in member and developing countries, reducing reliance on Western financial institutions.
- People-to-People and Cultural Exchanges: Promoting educational cooperation, innovation, and sustainable social development among member states.
BRICS advocates the reform of global governance institutions such as the IMF, World Bank, and WTO to better reflect contemporary economic realities and ensure fair representation for developing nations.
Institutional Setup
Unlike supranational bodies like the EU, BRICS operates mostly through annual summits, ministerial meetings, and working groups focusing on diverse sectors like agriculture, health, science, and technology.
- Summit: The BRICS Summit is held annually, where heads of states discuss strategic cooperation, global governance, and development goals.
- New Development Bank (NDB): Funding infrastructure, sustainable development, and innovation projects in member countries and emerging economies.
- BRICS Business Council: A forum to promote trade and investment among member economies.
- BRICS Parliamentary Forum: Facilitates inter-parliamentary cooperation and dialogue to support democratic governance.
The rotating presidency fosters leadership sharing among member states.
BRICS in Global Geopolitical Context
BRICS views itself as a counterbalance to the dominance of Western-led institutions. It champions a multipolar global order, seeking to provide the Global South with a stronger voice in world affairs.
Challenges faced include:
- Divergent political systems and economic models among members.
- India-China border tensions impacting cooperation.
- Differing foreign policy priorities, especially regarding the West and Middle East.
- Managing internal cohesion amid emerging global shocks and crises.
Despite these, BRICS continues to evolve as a vital platform for South-South cooperation.
India’s Significance within BRICS
For India, BRICS is a critical diplomatic and economic forum:
- Enhances India’s global profile and bargaining power.
- Provides avenues for cooperation in sectors such as energy, digital economy, agriculture, and health.
- Offers platforms to advance India’s vision of sustainable development and global governance reform.
- Facilitates collaboration on counterterrorism, cyber security, and climate change.
- Supports India’s leadership ambitions within the Global South.
India actively engages in BRICS initiatives and hosts the annual BRICS Summit in rotation.
Recent Developments and Expansion
The 2023 Johannesburg Summit marked the admission of six new members, significantly increasing BRICS’ geographic and demographic influence, particularly in Africa and the Middle East.
The expansion reflects BRICS’ strategy to broaden its geopolitical reach and economic potential by including other key emerging markets. Indonesia’s membership in 2025 further integrates Southeast Asia into this emerging coalition.
Challenges Ahead
- Diverse Political Agendas: Bridging divergent political ideologies and strategic interests.
- Economic Disparities: Managing large differences in economic size and development levels.
- Geopolitical Rivalries: Tensions among member states, particularly India vs China.
- Internal Governance: Lack of permanent secretariat and institutional structures limits effectiveness.
- Western Responses: Counterbalancing increasing pushbacks and strategic competition from Western countries.
Conclusion
BRICS represents a transformative force in global affairs, empowering emerging economies to assert greater influence in shaping the 21st-century world order. For UPSC aspirants, understanding BRICS—its formation, members, objectives, and evolving role—is essential for grasping contemporary international relations and India’s strategic diplomacy.
