Rising together - BRICS

The BRICS nations came together on the ground of similar and fast growing economies in the 2000s and continue to be important players in the world market. The total population of these countries stands at 2.88 Bn and forms 41% of the entire global population, with the five countries covering 29.3% of the planet’s land. The five nations represent almost a quarter of the world Gross Domestic Product (GDP) which comprises 195 countries. BRICS actively goes beyond economic strategies and essentially gives a platform to a group of nations who choose to stand apart from global economic and political poles and carve out a growth journey that is independent of global power dynamics and yet fits perfectly into the globalised contemporary world. Amongst a number of global economic collaborations formed over the years, BRICS has stood its unique ground on a strong base of mutual respect and went on to successfully collaborate on fronts like the setting up of New Development Bank and Contingency Reserve Agreement alongside conducting regular ministerial meetings and forming working groups to tackle key issues. The report covers the growth journey of the bloc and discusses its future prospective in a post COVID-19 world.

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