BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China, and South Africa.The grouping was originally known as “BRIC” before the inclusion of South Africa in 2010. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs; all five are G-20 members.
The term, “BRICS”, was coined by economist Jim O’Neill in his publication, Building Better Global Economic BRICs.
