BRICS Evolves From Four-Economy Concept to 11-Member Platform

BRICS began as an idea about four fast-growing countries: Brazil, Russia, India, and China.

The idea was created in 2001 by economist Jim O’Neill.

The countries started meeting officially in 2006 and held their first leaders’ summit in 2009.

South Africa joined in 2011, adding an African member and changing the name to BRICS.

In 2014, the group created a development bank and a financial safety arrangement.

These institutions were meant to help developing countries and complement existing organizations such as the IMF and World Bank.

BRICS later began discussing how to include more countries.

Five countries joined or were invited during the 2023-2025 expansion period, while Indonesia became the 11th full member in 2025.

The group now describes itself as a platform seeking greater representation for emerging economies in global governance.