Manmohan Singh Proposed BRICS Development Bank Idea in 2012: Jairam Ramesh

Source: ANI (Asian News International) | Original Published At: 2026-09-10 08:38:25 UTC

Key Points

• Senior Congress leader Jairam Ramesh highlighted former Prime Minister Manmohan Singh’s role in the evolution of BRICS.
• Ramesh said Singh proposed the idea of a BRICS Development Bank during India’s first hosting of the BRICS summit in 2012.
• He noted that the proposal later contributed to the establishment of the New Development Bank.
• Ramesh also traced BRICS’ origins, stating that economist Jim O’Neill coined the term BRIC in 2001 for Brazil, Russia, India and China as emerging global economic powers.