BRICS Explained: What is BRICS, Which Countries Are Members, and the Full Story from 2009 to 2026

Countries

Cooperation areas

Source: Asianet News Hindi | Original Published At: 2026-09-09 09:31:20 UTC

BRICS is a consensus-based platform for economic cooperation among 11 members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab Emirates, and Indonesia.
The group began as BRIC with Brazil, Russia, India, and China, held its first leaders summit in 2009, and became BRICS after South Africa joined in 2010.
BRICS expanded in 2023 with Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, while Indonesia became a full member on 6 January 2025.
According to the Brazilian Central Bank, BRICS members represent about 49% of the world's population, 36% of global land, 39% of global GDP, and 23% of the international market.
BRICS has no permanent secretariat and no common currency; decisions are generally made by consensus, with the chairmanship rotating annually among member states.
Key BRICS financial mechanisms include the New Development Bank, headquartered in Shanghai with $100 billion in authorized capital, and the Contingent Reserve Arrangement with an initial $100 billion support framework.
India holds the 2026 BRICS chairmanship and will host the 18th BRICS Summit in New Delhi on 12-13 September 2026, focusing on economic cooperation, digital payments, technology, health, energy, and Global South issues.