BRICS

BRICS (Brazil, Russia, India, China, South Africa)

1. The acronym “BRIC” was initially formulated in 2001 by economist Jim O’Neill of
   Goldman Sachs in a report on growth prospectus for economies of Brazil, Russia, India
   and China.
2. Formation: September 2006 (UNGA 61st session)
   • Originally, the first four were grouped as “BRIC”(or the BRICs) before the induction of South Africa in 2010.It became BRICS in the inclusion of South Africa. It became a new and promising political diplomatic entity, far beyond the original concept zilored for the financial markets.
   • At the 6th summit in Brazil in July 2014 BRICS established the New Development Bank, aimed at financing infrastructure and sustainable development projects in the BRICS and other developing countries. It holds annual summit.

BRIC Summit
1. first Summit was held in 2009 in Yekaterinburg, Russia
2. 2nd Summit 2010-Brazil
3. 3rd Summit 2011-Sanya,China
4. 4th Summit 2012-Taj Mahal, New Delhi, Delhi, India
5. 5th Summit 2013-Durban,South Africa
6. 6th Summit 2014-Fortaleza,Brazil
7. 7th Summit 2015-UFA,Russia
8. 8th Summit 2016-Goa,India
9. 9th Summit 2017-Xiamen,china
10. 10th Summit 2018-Johanesberg, South Africa
11. 11th Summit 2019-Brasilia,Brazil
12. 12th Summit 2020-Saint Petersburg, Russia
13. 13th Summit 2021-India (Virtual Meeting -September 9,2021). BRICS Games
2021 were decided to be hosted by India.
14. 14th Summit 2022-China(TBA)

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