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BRICS Nations Economic Study

This document summarizes a study on the BRICS nations. It discusses the founding and history of BRICS, which was established in 2006 and originally included Brazil, Russia, India, and China, with South Africa joining in 2010. The document outlines key statistics about the BRICS nations, such as their share of global GDP increasing from 11% in 1990 to nearly 30% in 2014. It also discusses objectives of the BRICS partnership such as functioning as an economic bloc and establishing the New Development Bank to fund infrastructure and development projects in BRICS countries.

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Parmvir Singh
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77 views13 pages

BRICS Nations Economic Study

This document summarizes a study on the BRICS nations. It discusses the founding and history of BRICS, which was established in 2006 and originally included Brazil, Russia, India, and China, with South Africa joining in 2010. The document outlines key statistics about the BRICS nations, such as their share of global GDP increasing from 11% in 1990 to nearly 30% in 2014. It also discusses objectives of the BRICS partnership such as functioning as an economic bloc and establishing the New Development Bank to fund infrastructure and development projects in BRICS countries.

Uploaded by

Parmvir Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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A Study On BRICS NATIONS

Presented by:
Bhoomika Kataria 19F08
Meet Bhati 19F27
Paramvir Singh Saini 19M33
Sejal Bundela 19M42
Introduction
❖ Founded in 2006.

❖ Founding members were Brazil, Russia and China.

❖ BRIC is an acronym for the economic bloc of countries consisting of Brazil, Russia, India,
and China.

❖ In 2010, South Africa joined the BRIC group.

❖ Economists believe these four nations will become dominant suppliers of manufactured
goods, services, and raw material by 2050 due to low labor and production costs.

❖ Critics argue that the nations' raw materials are limitless and the growth models ignore the
finite nature of fossil fuels, uranium, and other critical and heavily used resources.
BRIC's Growth in Global Dominance
❖ In 1990, BRIC countries accounted for 11% of global gross domestic product (GDP).

❖ By 2014, this figure rose to nearly 30%.

❖ BRIC countries have not announced formal trade agreements, but leaders regularly attend
summits together and often act in concert with one another's interests.

❖ Latest summit was hosted by Russia.


BRICS location map (I)
BRICS location map (II)
Literature review:
The acronym BRIC (without South Africa) was first mentioned by O'Neill in 2001, a Goldman
Sachs economist, and today, nearly fifteen years later, BRICS is considered as a new
international platform with a possibly increasing importance at the international stage.
Besides, other countries have declared their interest to become a BRICS member such as Turkey
and Indonesia.

Status of the 'BRICs': An analysis of growth factors

Development in BRICS

New Development Bank (NBS) or BRICS Development Bank (BDB)


Objectives of the study:
❖ To study the Functioning of BRICS nation as an economic bloc.

❖ To study the structure and functions of the BRIC new development bank.

❖ To study the activities and objectives behind formation of BRICS and New Development
Bank.
SIGNIFICANCE OF BRICS NATIONS
BRICS % of the total World
3.6 billion
❖ China is the most important global exporter of manufactured goods,Iindia the most
important global exporter of services while Russia and Brazil are the exporters of Raw
Materials.

❖ Thirty-four per cent of India's total imports are from the other four BRICS nation.

❖ Brazil, with 31 per cent of its total exports going to the BRICS nations.
BRICS Summits
Bibliography:
https://www.researchgate.net/publication/228109835_Status_of_the_'BRICs'_An_analysis_of_gro
wth_factors
https://www.brics-ibcm.org/images/publications/Research_and_Development_in_BRICS-An_Insig
ht.pdf
https://www.worldwidejournals.com/global-journal-for-research-analysis-GJRA/special_issues_pd
f/November_2014_1476528069__44.pdf
https://www.econstor.eu/bitstream/10419/183703/1/12-ENT23-Veres-83-90.pdf

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