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International relationsInternational organisations2009

BRICS

India is a founding member; the New Development Bank is in Shanghai.

Written by Pratidin; every fact checked by a separate review before publishing. How we work

South Africa joined in 2010, and the group expanded again from 2024.

New Development Bank headquarters, Shanghai.
New Development Bank headquarters, Shanghai. Donnie28, CC BY-SA 4.0, via Wikimedia Commons
Practise this in the app: flashcards, quiz and a timed answer
Prelims

Quick recall

When was the first BRIC summit?
2009.
When did South Africa join?
2010.
Where is the New Development Bank?
Shanghai.
What is the CRA?
Contingent Reserve Arrangement for balance of payments support.
Which countries joined in 2024?
Egypt, Ethiopia, Iran and the UAE.
Who coined 'BRIC'?
Jim O'Neill of Goldman Sachs in 2001.

Asked before in UPSC

Recurring theme: BRICS, the New Development Bank and Global South multilateralism

Mains
  1. 2026 · GS2 · 10 marks

    "BRICS acts as a powerful counterweight in global governance, actively amplifying the voice and influence of the Global South." Explain the role of BRICS in projecting itself as an alternative to other groupings.

    BRICS expansion and institutions such as the NDB are the evidence for its role as an alternative grouping.

  2. 2014 · GS2 · 12.5 marks

    India has recently signed to become a founding member of New Development Bank (NDB) and also the Asian Infrastructure Investment Bank (AIIB). How will the role of the two Banks be different? Discuss the strategic significance of these two Banks for India.

    The NDB, headquartered in Shanghai, is the BRICS institution at the centre of this question.

Prelims
  1. 2025 · Prelims

    Consider the following statements with regard to BRICS: I. 16th BRICS Summit was held under the Chairship of Russia in Kazan. II. Indonesia has become a full member of BRICS. III. The theme of the 16th BRICS Summit was Strengthening Multiculturalism for Just Global Development and Security. Which of the statements given above is/are correct?

    Tests recent BRICS summits and expansion of membership.

  2. 2016 · Prelims

    Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of New Development Bank is in Shanghai. Which of the statements given above is/are correct?

    Tests the NDB's origin as a BRICS bank and its Shanghai headquarters.

  3. 2014 · Prelims

    With reference to a grouping of countries known as BRICS, consider the following statements: 1. The First Summit of BRICS was held in Rio de Janeiro in 2009. 2. South Africa was the last to join the BRICS grouping. Which of the statements given above is/are correct?

    Tests BRICS history: the first BRIC summit was in 2009 and South Africa joined in 2010.

The basics

Why it matters

BRICS brings together major emerging economies. It has expanded beyond its original five members and created the New Development Bank.

2009
First BRIC summit
In Yekaterinburg, Russia; South Africa joined in 2010.

How it evolved

Key milestones.

BRICS
  1. 2009First BRIC summit
  2. 2010South Africa joins
  3. 2014New Development Bank agreed
  4. 2024Egypt, Ethiopia, Iran and UAE join
  5. 2025Indonesia joins

You now know

  • First summit in 2009; South Africa joined in 2010.
  • New Development Bank, headquartered in Shanghai.
  • Contingent Reserve Arrangement for liquidity support.
  • Expanded from 2024.

Go deeper

In one line: BRICS is the main club of emerging economies seeking a larger voice in global governance.

Why it matters for UPSC

India's role and BRICS expansion are frequent topics.

The core idea

It offers alternatives such as the New Development Bank, and debates De-dollarisation.

Where to go next

In one line: Expansion adds weight but makes consensus harder.

India's position

Supports reform of global institutions but cautious on a common currency and anti-West framing. See New Development Bank and De-dollarisation.

Where to go next

New Development Bank

BRICS's lending arm

In one line: The NDB, set up by BRICS, finances infrastructure and sustainable development.

HQ

Shanghai; its first president was India's K.V. Kamath.

Voting

Founding members hold equal shares.

Where to go next

New Development Bank: every story that connects to it (4)

De-dollarisation

Reducing reliance on the dollar

In one line: De-dollarisation means reducing the use of the US dollar in trade and reserves.

Moves

Local-currency trade, payment links.

India

Promotes rupee trade but has said it is not pursuing de-dollarisation as policy.

Where to go next

Prelims-style quiz

  1. The New Development Bank is headquartered in:

    1. Shanghai
    2. Moscow
    3. Brasilia
    4. New Delhi
    Show answer

    Answer: (a) Shanghai. Shanghai.

  2. Consider the following:
    1. South Africa joined BRICS in 2010.
    2. The NDB was agreed at the Fortaleza summit in 2014.
    Which of the statements given above is/are correct?

    1. 1 only
    2. 2 only
    3. Both 1 and 2
    4. Neither 1 nor 2
    Show answer

    Answer: (c) Both 1 and 2. Both correct.

  3. The term BRIC was coined by:

    1. Paul Krugman
    2. Jim O'Neill
    3. Raghuram Rajan
    4. Jeffrey Sachs
    Show answer

    Answer: (b) Jim O'Neill. Jim O'Neill, 2001.

  4. Which country joined BRICS in 2025?

    1. Indonesia
    2. Saudi Arabia
    3. Turkey
    4. Argentina
    Show answer

    Answer: (a) Indonesia. Indonesia.

Syllabus

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