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TRANS Asian Journal of Marketing & Management Research (TAJMMR)
Year : 2018, Volume : 7, Issue : 1
First page : ( 12) Last page : ( 17)
Online ISSN : 2279-0667.

An overview of brics economies

Mrs. Kavitha N.V.*, Dr Gandhimathi S.**

*PhD Scholar, Department of Economics, Avinashilingam Institute for Home Science and Higher Education for Women Coimbatore, India

**Professor, Department of Economics, Avinashilingam Institute for Home Science and Higher Education for Women Coimbatore, India

Online published on 9 February, 2018.

Abstract

BRICS countries includes Asia, Africa, Europe and America and are all members of the G20. Together, they account for 26.46% of world land area, 42.58% of world population, 13.24% of World Bank voting power and 14.91% of IMF quota shares. According to IMF's estimates, BRICS countries generated 22.53% of the world GDP in 2015 and have contributed more than 50% of world economic growth during the last 10 years. The declaration of Xiamen Summit 2017 reaffirmed that BRICS countries continue to play an important role as engines of global growth. Hence this study aims at analyzing the GDP growth of BRICS Economies BRICS is made up of China, Brazil, Russia, India and South Africa. The first BRIC Foreign Ministers’ Meeting was held in 2006 among China, Brazil, Russia and India on the margins of the general debate of the 61st session of the United Nations General Assembly, which drew the prelude for BRIC cooperation. In 2009, the first BRIC Summit was held in Yekaterinburg, Russia. Since then, the Summit has become an annual event. To date, 9 Summits have been held. In December 2010, China, as the Chair, invited South Africa to join BRIC and attend the Summit in Sanya, China. BRIC officially enlarged to include 5 countries and the acronym changed into BRICS.

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Keywords

Trade, Finance, Business, Agriculture, Education, Culture, Think Tanks.

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