BRICS presently is a group of nations which are part of emerging economies. This group was established in 2008. Initially it had four members : Brazil, Russia, India and China, and was known as BRIC. In 2010 when South Africa became its fifth member, it came to be known as BRICS. It extent lies from Asia, Africa to South America. In this competititve age, BRICS nations are ready to face the challenges to work together on an international platform.
BRICS Top-level Summit :
- The first summit of BRICS was held in June 2009 at Ketinburg in Russia. They proposed that the decisions on economic, political and defence issues were to be based on democratic ideas.
- Second BRICS summit took place in 2010 in the capital city of Brazil, Brasilia in which a 33 point declaration was adopted.
- The third summit was convened in April 2011 at Sanya city of China. The summit reiterated the reforms in Security Council, International Monetary Fund and World Bank to make it more representative and democratic.
- The fourth summit was held at New Delhi in India in March 2012. After deliberations, consensus was made to increase the share of BRICS nations in shaping global stability, security and wealth of the world.
- Fifth summit was held in South Africa. In the declaration letter of this summit, it insisted on promoting international law, multinational cooperation and strengthening the central power of UNO.
- Sixth summit of BRICS group was held in Brazil in 2014. The main subject of this summit was inclusive growth and sustainable development.
- In 2015 the seventh summit of BRICS was held in Russia. In this summit the discussion was held regarding promotion of cooperation in the economic field.
- In 2016 the eighth summit of BRICS was organised in New Delhi (India).