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International Relations GS 2 In the news 4 times

BRICS as a Grouping

BRICS is an intergovernmental grouping of major emerging economies that increasingly coordinates positions on global economic governance, trade and climate finance to represent Global South interests.

Key details
  • The acronym BRIC was coined in 2001 by Goldman Sachs economist Jim O'Neill; the grouping held its first formal summit in 2009 (Yekaterinburg, Russia). South Africa joined in 2010, making it BRICS.
  • In a major 2024 expansion (decided at the Johannesburg Summit, August 2023), Egypt, Ethiopia, Iran and the United Arab Emirates joined as full members effective 1 January 2024, with Saudi Arabia invited but yet to formally confirm accession.
  • The expanded "BRICS+" bloc now represents a significant share of global population and GDP (on a PPP basis), giving it greater collective bargaining weight on issues like trade and climate finance.
In the news

● Tracked since August 18, 2026 · last seen September 13, 2026 · updates as the daily brief publishes

13 Sep '26
Putin asks BRICS to consider SWIFT alternative, a grain exchange, own reinsurance firm
International Relations
12 Sep '26
BRICS backs carbon market cooperation while opposing unilateral CBAM
Environment & Ecology
18 Aug '26
BRICS nations oppose EU carbon border tax at the group's environment ministers’ meeting
International Relations
18 Aug '26
BRICS condemns EU carbon tax
International Relations
Related concepts
International Relations
Carbon Border Adjustment Mechanism (CBAM)
Economy
EU Carbon Border Adjustment Mechanism (CBAM)
International Relations
BRICS Financial Architecture
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