BharatNotes Origins and Evolution
BRICS is an intergovernmental organisation comprising major emerging market economies. The concept originated with economist Jim O'Neill (Goldman Sachs, 2001), who coined the acronym BRIC — Brazil, Russia, India, China — as a shorthand for the world's fastest-growing large economies.
| Milestone | Detail |
|---|---|
| First BRIC Foreign Ministers' meeting | September 2006, New York (sidelines of UNGA) |
| First BRIC Leaders' Summit | 16 June 2009, Yekaterinburg, Russia |
| South Africa joins | April 2011 (Sanya Summit, China) → acronym becomes BRICS |
| BRICS Charter / Johannesburg Declaration | 2023 Johannesburg Summit formalised expansion mechanism |
The first formal BRIC foreign ministers' meeting was held in New York in 2006; the first standalone Leaders' Summit was in 2009. South Africa was invited to the 2011 Sanya Summit and formally joined, completing the BRICS five.
Membership
Original 5 (BRICS-5, 2006–2024)
| Country | Year |
|---|---|
| Brazil | 2006 (founding) |
| Russia | 2006 (founding) |
| India | 2006 (founding) |
| China | 2006 (founding) |
| South Africa | 2011 |
Expansion — 5 New Full Members (2024–2025)
At the Johannesburg Summit (August 2023), six countries were invited to join. Five accepted; Argentina declined.
| New Member | Formal Accession |
|---|---|
| Egypt | 1 January 2024 |
| Ethiopia | 1 January 2024 |
| Iran | 1 January 2024 |
| UAE | 1 January 2024 |
| Indonesia | 1 January 2025 |
Argentina was invited but declined membership in September 2024 — President Javier Milei's government, which took office in December 2023, rejected joining BRICS as inconsistent with its economic alignment with the West.
Saudi Arabia formally joined as the 11th full member at the 17th BRICS Summit in Rio de Janeiro, July 2025, after over a year of hedging.
Current membership: 11 full members (as of July 2025).
BRICS at a Glance — Key Statistics
| Metric | BRICS (10 members) |
|---|---|
| Share of global GDP (PPP) | ~40% |
| Share of global trade | ~24% |
| Share of world population | ~45% |
| Share of global land area | ~30% |
BRICS now accounts for a larger share of global GDP (PPP) than the G7 (~43%). This shift underlies the bloc's claim to represent a "non-Western" multipolar economic order.
Kazan Summit 2024
15th BRICS Summit — Kazan, Russia, 22–24 October 2024 (Russia's BRICS Presidency)
Theme: "Strengthening Multilateralism for Just Global Development and Security"
Key Outcomes
| Outcome | Detail |
|---|---|
| Indonesia's accession | Formally invited; joins as 10th full member on 1 January 2025 |
| BRICS Partner Country category | New category created; 13 countries invited as BRICS Partners |
| Kazan Declaration | 134-paragraph document; called for reform of UN, IMF, World Bank |
| BRICS Cross-Border Payment Initiative (BCBPI) | Framework for facilitating cross-border payments using local currencies; not a single BRICS currency |
| BRICS Grain Exchange | Proposal to establish a commodity trading platform among BRICS members |
| De-dollarisation | Discussed; India resisted binding commitments — MEA explicitly stated de-dollarisation "not on the agenda" |
| NDB membership | NDB expansion discussed; new projects pipeline reviewed |
13 BRICS Partner Countries (Kazan 2024)
Algeria, Belarus, Bolivia, Cuba, Indonesia (now full member), Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, Vietnam.
Brazil BRICS Presidency 2025
Host: Rio de Janeiro; 17th BRICS Summit: 6–7 July 2025
Theme: "Strengthening Global South Cooperation for Inclusive and Sustainable Governance"
Brazil's four priorities:
- Reform of global governance (UN, Bretton Woods institutions)
- Sustainable development and climate finance
- Artificial intelligence governance and digital cooperation
- South-South trade and investment facilitation
New Development Bank (NDB)
The New Development Bank is BRICS's multilateral development institution, established to fund infrastructure and sustainable development projects in BRICS and other emerging economies.
NDB — Core Facts
| Feature | Detail |
|---|---|
| Established | 2014 (agreement); operational July 2015 |
| Headquarters | Shanghai, China (with Africa Regional Centre in Johannesburg) |
| Authorised capital | $100 billion |
| Initial subscribed capital | $50 billion (equally distributed — $10 billion per founding BRICS member) |
| President | Dilma Rousseff (former President of Brazil; took office March 2023 for 5 years) |
| Total members | 11 members (5 original BRICS + Bangladesh, UAE, Egypt, Uruguay, Saudi Arabia, Zimbabwe) |
| India's portfolio | ~$4.87 billion across infrastructure, renewable energy, urban development projects |
NDB vs World Bank — Key Distinctions
| Feature | NDB | World Bank |
|---|---|---|
| Founded | 2015 | 1944 (Bretton Woods) |
| HQ | Shanghai | Washington D.C. |
| Governance | Equal voting shares among founding members | Weighted votes (USA largest shareholder) |
| Conditionality | No political conditionalities | Traditional structural adjustment conditions |
| Focus | Infrastructure and sustainable development | Broad development, poverty reduction |
| Lending currency | Local currencies and USD | Primarily USD |
Significance: The NDB's equal voting structure is its key distinction from the IMF and World Bank, where voting power is weighted by economic contribution and dominated by the US and Europe.
Contingent Reserve Arrangement (CRA)
The BRICS Contingent Reserve Arrangement (CRA) is a framework for providing liquidity support to BRICS members facing balance of payments pressures — functioning as a mini-IMF.
| Feature | Detail |
|---|---|
| Total corpus | $100 billion |
| China's contribution | $41 billion (largest) |
| Brazil, Russia, India | $18 billion each |
| South Africa | $5 billion |
| IMF linkage | Above 30% of quota requires an IMF programme (debated as limiting CRA's independence) |
The CRA is distinct from the NDB — NDB lends for projects; CRA provides emergency balance of payments support.
India and BRICS — Opportunities and Constraints
India's Strategic Interests
| Interest | How BRICS Helps |
|---|---|
| Multi-alignment | BRICS allows engagement with Russia and China outside US-led frameworks (NATO, G7) |
| Global South voice | Platform to amplify developing economy perspectives at IMF, WTO, UNSC |
| NDB access | Alternative financing for infrastructure without World Bank conditionality |
| Reform agenda | UNSC permanent membership, IMF quota reform, WTO equity — BRICS provides advocacy |
| Trade diversification | Intra-BRICS trade mechanisms; local currency settlement to reduce dollar dependence |
India's Core Constraints
- China factor: Sino-Indian border tensions (Galwan 2020, ongoing LAC disputes) create fundamental trust deficit within the bloc; China dominates BRICS economically (contributes ~70% of BRICS GDP combined)
- Pakistan in SCO: Unlike SCO, BRICS does not include Pakistan — but India-China rivalry shapes every BRICS negotiation
- De-dollarisation pressure: Russia and China have pushed hard for a BRICS currency or payment system to reduce dollar dependence; India has consistently resisted, arguing it would be premature, economically risky, and would target the US unnecessarily
- NDB governance drift: NDB expanded membership (11 members now) risks diluting BRICS-specific mandate
- Russia-Ukraine war: India's non-condemnation of Russia contrasts with Western pressure; complicated India's G20 and BRICS positioning simultaneously
India's Explicit Stance on De-dollarisation
The MEA has explicitly stated that de-dollarisation is "not on India's agenda" within BRICS. External Affairs Minister S. Jaishankar confirmed that no BRICS currency is under consideration. India's position: promote local currency trade on bilateral basis (e.g., India-Russia rupee-rouble trade for oil) but not push for a replacement to the dollar-dominated global system — which India sees as both premature and potentially destabilising.
BRICS vs G7 vs G20 — Comparison
| Feature | BRICS (11) | G7 | G20 (21) |
|---|---|---|---|
| Founded | 2006/2009 | 1975 | 1999 |
| Members | 11 full + 10 confirmed partners | 7 | 21 (19 + EU + AU) |
| Focus | Emerging/developing economies | Advanced economy coordination | Global economic governance |
| Share of global GDP | ~40% (PPP) | ~45% (nominal) | ~85% |
| Share of population | ~45% | ~10% | ~67% |
| Secretariat | No permanent secretariat | No permanent secretariat | No permanent secretariat |
| India's role | Founding member | Guest invitee | Member; 2023 Chair |
| Decision-making | Consensus; non-binding | Consensus; non-binding | Consensus; non-binding |
Key BRICS Summits
| Year | Location | Key Outcome |
|---|---|---|
| 2009 | Yekaterinburg | First BRIC Summit; called for IMF reform, multipolarity |
| 2011 | Sanya, China | South Africa joins → BRICS |
| 2014 | Fortaleza, Brazil | NDB established; CRA signed; equal voting structure |
| 2015 | Ufa, Russia | NDB operationalised; CRA entered into force |
| 2023 | Johannesburg | 6 new members invited (Expansion Summit); BRICS Partner category; Johannesburg II Declaration |
| 2024 | Kazan, Russia | Indonesia joins (Jan 2025); 13 partner countries created; BCBPI; Kazan Declaration |
| 2025 | Rio de Janeiro | Brazil Presidency; 17th Summit July 6–7, 2025 |
BRICS and the NDB — Geopolitical Significance
BRICS represents a non-Western multilateral architecture — not anti-Western but offering alternatives to Bretton Woods institutions. Its significance lies in:
- Alternative financing: NDB offers project loans without structural adjustment conditionalities
- Alternative narrative: A "counter-hegemonic" narrative challenging US dollar dominance and G7 agenda-setting
- India's paradox: India benefits from the non-Western platform but is uncomfortable with BRICS being weaponised against the dollar-dominated system, given India's own interests in financial stability and US relations
- BRICS+ expansion: The 13 partner countries from Kazan represent a soft expansion that makes BRICS more of a "Global South" club than a tight economic grouping
- China's dominance: China contributes ~70% of BRICS combined GDP; the bloc risks becoming an instrument of Chinese influence rather than genuine multipolarity
Recent Developments (2024–2026)
BRICS Kazan Summit 2024 — Expansion and Geopolitical Impact
The 16th BRICS Summit was held in Kazan, Russia on 22–24 October 2024. BRICS formally expanded to include four new full members from 1 January 2024: Egypt, Ethiopia, Iran, and UAE (Saudi Arabia deferred). Thirteen new "BRICS Partner Countries" were invited: Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Türkiye, Uganda, Vietnam, and Uzbekistan — with nine becoming official partners on 1 January 2025.
The Kazan Summit adopted the Kazan Declaration and focused on: de-dollarisation (BRICS Payment System, BRICS grain exchange); governance reform (reforming Bretton Woods institutions); and geopolitical positioning. The summit provided Russia a major diplomatic stage to demonstrate it was not internationally isolated despite Western sanctions. BRICS' combined GDP (PPP) now exceeds the G7's, and its member states represent over 45% of the world's population.
UPSC angle: BRICS full members as of July 2025 (11): Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, Indonesia (joined January 2025), Saudi Arabia (joined July 2025). Belarus is only a partner country, not a full member. 9 partner countries effective January 2025. Kazan 2024 outcomes: BRICS grain exchange, payment system exploration, Kazan Declaration.
Modi-Xi Bilateral at Kazan — Direct Diplomatic Reset
PM Modi and President Xi Jinping held a bilateral summit on the margins of the BRICS Kazan Summit (October 2024) — their first formal bilateral meeting since the Galwan clash (June 2020). The meeting directly preceded India and China announcing the LAC patrolling agreement (21 October 2024), signalling that the BRICS platform was used as a venue for the diplomatic reset. Both leaders agreed to restore normal diplomatic and people-to-people relations and to intensify work on boundary management.
UPSC angle: Modi-Xi bilateral at BRICS Kazan (October 2024) is critically important — it was the first Modi-Xi summit in 5 years and directly preceded the LAC breakthrough. Demonstrates BRICS as a platform for bilateral diplomacy beyond its multilateral purpose.
India's BRICS Engagement — De-Dollarisation Caution
India's approach to de-dollarisation within BRICS has been cautious. India opposes any mechanism that would make BRICS membership contingent on abandoning the dollar, while being open to exploring local currency trade settlement for bilateral transactions. India is concerned that a formal BRICS currency or SWIFT alternative would damage India's own financial integration with the dollar-based global system and invite Western economic countermeasures. India also resists Chinese proposals that would give Beijing disproportionate influence in any BRICS financial architecture.
UPSC angle: India's stance on BRICS de-dollarisation — cautious support for local currency trade, opposition to formal BRICS currency — reflects India's strategic autonomy and multi-alignment doctrine.
17th BRICS Summit — Rio de Janeiro, Brazil (July 2025)
Brazil assumed the BRICS Chairmanship for 2025 on 1 January 2025. The 17th BRICS Summit was held at the Museum of Modern Art, Rio de Janeiro, Brazil on 6–7 July 2025, under the theme: "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance."
Key outcomes:
- The Rio de Janeiro Declaration was adopted by leaders of the 11 member states, focusing on Global South cooperation, multilateral governance reform, and sustainable development.
- Three additional documents were adopted: the BRICS Leaders' Framework Declaration on Climate Finance, the BRICS Leaders' Declaration on Global Governance of Artificial Intelligence, and the BRICS Partnership for the Elimination of Socially Determined Diseases.
- A BRICS Development Bank (NDB) expansion framework for small island developing states and LDCs was discussed.
Notable absences: Chinese President Xi Jinping did not attend — his first absence from a BRICS Leaders' Summit — sending Premier Li Qiang instead (citing scheduling conflicts). Russian President Putin also did not attend (ICC warrant risk in Brazil). India was represented by PM Modi.
BRICS membership as of July 2025 (11 full members): Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, UAE, Indonesia (joined January 2025), Saudi Arabia (joined July 2025). Nine partner countries joined effective January 2025.
Chairmanship succession: Brazil's chairmanship concluded at the Rio Summit; the 2026 BRICS chairmanship passed to the United Arab Emirates (UAE).
UPSC angle: Prelims — 17th BRICS Summit: Rio de Janeiro, July 6–7, 2025; Brazil chair; Xi Jinping absent (Li Qiang represented China); Indonesia and Saudi Arabia as new full members (11 total); UAE chairs BRICS in 2026. Mains — assess the significance of the Rio BRICS Summit given notable leadership absences; what does Xi's absence signal about China's BRICS priorities?
New Development Bank (NDB) — Expansion and India's Role
The NDB (headquartered in Shanghai; USD 100 billion authorised capital; equal voting rights among original 5 members) admitted Bangladesh, UAE, Egypt, and Uruguay as new members in 2021–24. Dilma Rousseff (Brazil's former President) succeeded K.V. Kamath (India) as NDB President. NDB's cumulative approvals exceeded USD 32 billion by 2024, with infrastructure and sustainable development projects across member countries. India is the NDB's largest borrower.
The Russia-Ukraine war complicated NDB operations — NDB paused new projects in Russia and Belarus to protect its credit rating and access to global capital markets. India navigated this carefully, supporting NDB's continued operation while maintaining strategic autonomy on Russia sanctions.
UPSC angle: NDB facts — HQ Shanghai, USD 100 billion authorised capital, equal voting rights (original 5), Dilma Rousseff as current President, India as largest borrower. Russia-Ukraine war impact on NDB operations is an important nuance.
PYQ Relevance
- (Prelims 2021): "With reference to the New Development Bank, which of the following statements is correct?" — HQ Shanghai; equal voting rights; $100B authorised capital
- (Prelims 2024 pattern): BRICS membership after expansion; Kazan Summit outcomes; NDB president
- (GS2 Mains 2022): "Discuss the relevance of BRICS in the current global order. Has the bloc lived up to its initial promise?"
- (GS2 Mains 2023): "Examine India's role in BRICS and assess the opportunities and challenges for India in the expanded BRICS."
Exam Strategy
Non-negotiable Prelims facts:
- BRIC coined by Jim O'Neill (Goldman Sachs) in 2001
- First BRIC Summit: 16 June 2009, Yekaterinburg
- South Africa joined: 2011 (Sanya Summit) → became BRICS
- NDB HQ: Shanghai; authorised capital: $100 billion; president: Dilma Rousseff (March 2023)
- NDB founding: 2014 agreement; operational July 2015
- CRA: $100 billion; China = $41B; Brazil/Russia/India = $18B each; South Africa = $5B
- New members (Jan 2024): Egypt, Ethiopia, Iran, UAE; Indonesia (Jan 2025); Saudi Arabia (July 2025) → 11 full members
- Argentina declined (September 2024); Saudi Arabia formally joined July 2025 at 17th Summit (Rio de Janeiro)
- Kazan 2024: 13 partner countries created; no BRICS currency agreed
Mains analytical angles:
- BRICS as India's multi-alignment platform: how India uses BRICS alongside QUAD and G20 simultaneously
- India's de-dollarisation stance: why India resists — strategic interests in dollar stability, US ties, premature alternative infrastructure
- China's dominance within BRICS: ~70% of combined GDP — is it genuine multilateralism or Chinese influence?
- NDB vs World Bank: equal voting as the key distinction; no conditionality as the selling point for Global South
- BRICS expansion dilemma: larger membership brings geopolitical weight but dilutes coherence; BRICS+ as loose "Global South" umbrella
- India-China within BRICS: managing rivalry within a cooperative framework — lessons from SCO parallels
Cross-link: For current BRICS developments under Brazil's 2025 Presidency, follow Ujiyari.com.
