The economies of Brazil, Russia, India, China and South Africa together form the BRICS grouping - a unique assemblage of the world’s largest emerging economies. Individually and collectively, these nations are expected to be amongst the world’s largest economies soon. BRICS comprises 43% of the world population, possessing 30% of the world GDP and 17% share in world trade. Therefore, India attaches importance to its engagement with BRICS countries as they have now become important trading partners. In the current global economic environment, cooperation between the leading emerging economies, gains added significance.
This Background Paper outlines the BRICS Economic co-operation, common factors of BRICS countries, potential areas of cooperation and the country profiles of BRICS Nations.