BRICS as a Grouping
Origin, Expansion and India's 2026 Chairship
BRICS began as an informal grouping (BRIC) of Brazil, Russia, India and China in 2009, with South Africa joining in 2010 to form BRICS. It has since evolved from an economic dialogue forum into a platform for institution-building (NDB, CRA) and, more recently, discussions on alternative trade and payment infrastructure — reflecting the shifting priorities of an expanded, more heterogeneous membership.
- BRICS expanded in January 2024 to admit Egypt, Ethiopia, Iran, Saudi Arabia and the UAE (Saudi Arabia's accession remains under its own domestic consideration); Indonesia joined as the newest full member in January 2025, taking full membership to 11 countries
- The grouping operates by consensus, with no binding charter or secretariat; the chairship rotates annually among members
- India held the 2026 BRICS chairship and hosted the summit at Bharat Mandapam, New Delhi
- BRICS members together account for a large and rising share of global GDP (in PPP terms) and roughly 40% of the world's population, giving proposals like BRICS Pay potential scale even without binding commitments
● Tracked since March 16, 2026 · last seen September 13, 2026 · updates as the daily brief publishes
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