About:
BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China and South Africa.
The BRICS Leaders’ Summit is convened annually.
The 15th BRICS Summit was hosted by South Africa in 2023, and Russia will host the 16th Brics summit in October 2024.
Formation of BRICS:
The grouping was first informally formed during a meeting of the leaders of Brazil, Russia, India, and China (BRIC) on the sidelines of the G8 (now G7) Outreach Summit in St.Petersburg, Russia, in 2006, this was later formalised during the 1st BRIC Foreign Ministers' Meeting in New York in 2006.
In 2009, the inaugural BRIC summit took place in Yekaterinburg, Russia. The following year (2010), South Africa joined to form the group known as BRICS.
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