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Q48 (CDS-I/2022) International Relations & Global Affairs › International Organisations & Groupings › Intergovernmental groupings Answer Verified

Which one of the following best describes BRICS ?

Result
Your answer: —  Â·  Correct: C
Explanation

BRICS is primarily defined as an acronym for the major emerging national economies of Brazil, Russia, India, China, and South Africa. Originally coined as an investment concept, it evolved into a formal political and economic bloc aimed at improving the global influence of emerging economies. Unlike the G7, which represents highly industrialized nations, BRICS serves as a platform for the Global South to challenge Western dominance in multilateral institutions like the World Bank and IMF [1]. While the group includes nuclear powers and advocates for UN Security Council reform to include members like India, Brazil, and South Africa, its core identity is that of a group of major emerging economies seeking a multipolar world order. The bloc emphasizes South-South cooperation and has established financial mechanisms like the New Development Bank to support sustainable development in emerging markets [2].

Sources

  1. [1] https://guides.loc.gov/brics
  2. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 18: International Economic Institutions > NEW DEVELOPMENT BANK OR BRICS DEVELOPMENT BANK > p. 528
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SIMILAR QUESTIONS

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Which of the following are members of BRICS?

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