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BRICS: Built Brick by Brick from an Investment Acronym 25 Years Ago

BRICS: Built brick-by-brick from an investing acronym 25 years ago
Countries
BrazilChinaEgyptEthiopiaIndiaIndonesiaIranRussiaSaudi ArabiaSouth AfricaUnited Arab Emirates
Cooperation areas
Economic GrowthInclusive MultilateralismInstitutional Development

Source: The New Indian Express | Original Published At: 2026-09-10 12:51:23 UTC

Key Points

  • BRICS began as the acronym BRIC, coined by Goldman Sachs economist Jim O'Neill to describe Brazil, Russia, India and China as fast-growing emerging economies.
  • The grouping was formalized at the first BRIC foreign ministers meeting on the sidelines of the UN General Assembly in 2006.
  • The inaugural BRIC leaders summit was held in Yekaterinburg, Russia, in 2009, attended by leaders of Brazil, Russia, India and China.
  • South Africa joined in 2010, making the bloc BRICS, which now has 11 full members after expansions in 2024 and 2025.
  • The New Development Bank was announced in 2014 as the BRICS Development Bank.
  • Iran is now a full member and its president is attending the BRICS Summit 2026 in India, with Iran expected to be a key discussion point.
  • India's BRICS chairship and the 18th BRICS Summit are themed around resilience, innovation, cooperation and sustainability.
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