BRICS
The grouping of Brazil, Russia, India, China and South Africa, now expanded, that holds a yearly leaders' summit.
What the paper can ask
- First summit Yekaterinburg, 16 June 2009; South Africa joined 2010.
- Egypt, Ethiopia, Iran and the UAE joined from 2024; Indonesia on 6 January 2025; 13 partner countries invited in October 2024. (as of 23 Oct 2026)
- BRICS+ covers about 46 percent of world population and a quarter of its land. (as of 23 Oct 2026)
- The Contingent Reserve Arrangement, its currency safety net, came into force in 2015.
- The 17th summit was in Rio de Janeiro in July 2025.
Latest
India hosted the 18th summit at Bharat Mandapam, New Delhi, on 12-13 September 2026; the 140-point New Delhi Declaration backed India and Brazil for larger roles at the UN; China chairs in 2027 and hosts the 19th summit.
Why exams ask
Who coined the term, the first summit, the new members, the bank's city and the next chair are asked every year.
The full story
BRICS began as 'BRIC', an acronym for four large emerging economies, and became a political grouping when their leaders first met at Yekaterinburg, Russia, in 2009. South Africa joined in 2010, adding the S. From 2024 Egypt, Ethiopia, Iran and the UAE took part as members, and Indonesia joined in January 2025; a 'partner country' tier was created too. The chair rotates every year and the chair hosts the summit.
In the news
Test yourself
1.The New Development Bank set up by the BRICS countries is headquartered in:
Correct. The NDB (2015) is based in Shanghai; the Asian Infrastructure Investment Bank is in Beijing and the Asian Development Bank in Manila.
Not quite. The NDB (2015) is based in Shanghai; the Asian Infrastructure Investment Bank is in Beijing and the Asian Development Bank in Manila. It goes into your error book.