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BRICS Timeline: From Economic Acronym to Global South Forum
BRICS began as an idea about four countries that could become more important in the world economy.
The name came from Brazil, Russia, India and China.
These countries started working together officially in 2006.
They held their first leaders’ meeting in 2009.
South Africa joined in 2010, adding the “S” to BRICS.
The group later created the New Development Bank to support development projects.
Several more countries joined in 2024, and Indonesia became the 11th full member in 2025.
BRICS also created a partner-country system for countries that cooperate with the group.
India is chairing BRICS in 2026 and will host the next summit in New Delhi.
Economist Jim O’Neill coined “BRIC” in 2001 for Brazil, Russia, India and China.
The four countries began formal cooperation in 2006 and held their first leaders’ summit in Russia in 2009.
South Africa joined in 2010, turning BRIC into BRICS, while members later established the New Development Bank.
Egypt, Ethiopia, Iran and the United Arab Emirates joined in 2024 after Argentina declined its invitation; Saudi Arabia appeared on official membership lists.
Indonesia became the 11th full member in 2025, and India assumed the 2026 chairship ahead of the 18th summit in New Delhi.
- Who
- BRICS member countries, initially Brazil, Russia, India and China, later joined by South Africa and additional members including Indonesia.
- What
- BRICS developed from an economic acronym into a forum for political, economic and diplomatic cooperation, expanding to 11 full members and partner countries.
- Where
- The 18th BRICS Summit will be held at Bharat Mandapam in New Delhi, India.
- When
- The concept began in 2001; formal cooperation started in 2006, and the 18th summit is scheduled for 12–13 September 2026.
- Why
- The grouping seeks to increase cooperation among emerging economies, support development, and promote reforms in global governance and financial institutions.
Key facts
- Original acronym
- BRIC was coined by Goldman Sachs economist Jim O’Neill in 2001 for Brazil, Russia, India and China.
- Formal cooperation
- The four countries began developing BRIC as a political grouping in 2006.
- First summit
- The first BRIC leaders’ summit took place in Yekaterinburg, Russia, on 16 June 2009.
- South Africa’s entry
- South Africa was invited in 2010 and attended the 2011 summit as a full member, creating BRICS.
- Development institutions
- Members signed agreements for the New Development Bank and Contingent Reserve Arrangement in 2014; the bank became operational in 2015.
- Current membership
- Indonesia became the 11th full member in January 2025; BRICS also has a growing partner-country network.
- 2026 summit
- India’s chairship began on 1 January 2026, and the 18th summit is scheduled for 12–13 September in New Delhi.
Sources
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