PIB class: PIB Backgrounder. Unit: PIB feature unit.
Why in News
PIB published a thematic Backgrounder on BRICS, the intergovernmental grouping.
Core facts (static, definitional)
- BRICS is an intergovernmental grouping. The founding members are Brazil, Russia, India, China and South Africa.
- Origin: The term BRIC began as an economic grouping in 2006. South Africa joined in 2010, making it BRICS.
- Expansion: The grouping admitted new members from January 2024. Indonesia became a full member in January 2025 and is the first Southeast Asian state in the bloc.
- Institutions: The New Development Bank (NDB) finances infrastructure and sustainable development projects. The Contingent Reserve Arrangement (CRA) is a currency swap framework for balance of payments support.
Static Context
- The New Development Bank (NDB) was established in 2015 and is headquartered in Shanghai. Founding members subscribed equal capital, so no single member dominates its voting.
- The Contingent Reserve Arrangement (CRA) is a treaty based safety net. It lets members access foreign currency during short term liquidity pressure.
- BRICS positions itself as a voice of the Global South. It presses for reform of the United Nations Security Council and of the Bretton Woods institutions.
- The 16th BRICS Summit was held at Kazan, Russia in 2024 under the Russian chairship. Its theme concerned strengthening multilateralism for just global development and security.
Prelims angle
Founding versus new members. The NDB headquarters at Shanghai and its equal capital structure. The CRA as a swap arrangement. Latest summit host and chair. Indonesia as the first Southeast Asian member.
Mains angle
GS2, global groupings affecting India’s interests. BRICS as a counterweight in global governance and a platform for the Global South, weighed against internal divergence among members.
Matching Previous Year Question
“[2025] Consider the following statements with regard to BRICS: I. The 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? (a) I and II (b) II and III (c) I and III (d) I only. Answer: (a)”
“[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.”
