Archive · 10 Sep 2026
BRICS Expands From Economic Idea Into Global Power Bloc
BRICS began as an idea about four growing countries: Brazil, Russia, India and China.
Jim O’Neill created the name BRIC in 2001 while working at Goldman Sachs.
The countries later began cooperating and held their first leaders’ summit in Russia in 2009.
South Africa joined in 2010, adding the letter S. Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia later joined.
The expanded group represents almost half of the world’s people and about two-fifths of global economic output.
BRICS wants developing countries to have a stronger voice in world affairs.
It has created financial institutions to support development and reduce reliance on Western-led systems.
However, its members do not always agree, and Saudi Arabia’s membership status remains disputed.
India assumed the BRICS chair on January 1, 2026, and will host the summit in New Delhi on September 12–13.
The grouping began with Brazil, Russia, India and China after economist Jim O’Neill coined the term BRIC in 2001.
South Africa joined in 2010, while Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia were added in the later expansion.
BRICS countries represent about 49% of the world’s population, roughly 39–40% of global GDP and 23% of international trade, according to cited sources.
The bloc promotes a more multipolar global order, but faces internal divisions and uncertainty over Saudi Arabia’s membership.
- Who
- India and the BRICS members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia; the articles differ on whether Saudi Arabia is also a member.
- What
- BRICS has grown from a four-country economic concept into a larger political and economic cooperation bloc.
- When
- The BRIC term was coined in 2001; the first summit was held in 2009; South Africa joined in 2010; India assumed the 2026 chair on January 1 and will host the summit on September 12–13.
- Where
- The 2026 summit will be held at Bharat Mandapam in New Delhi, India; the first summit took place in Yekaterinburg, Russia.
- Why
- Members seek greater cooperation, a more multipolar world, a stronger Global South voice and reduced dependence on Western-led financial institutions.
BRICS as a Growing Global Counterweight
BRICS as a Divided and Informal Bloc
Global influence
BRICS as a Growing Global Counterweight
Supporters and cited analysts describe BRICS as an increasingly influential voice for the Global South that can challenge Western dominance in institutions such as the World Bank, the G7 and the United Nations Security Council.
BRICS as a Divided and Informal Bloc
Critics and analysts cited in the articles emphasize that the bloc lacks a founding treaty, permanent headquarters and dedicated secretariat, and that internal disagreements could limit its ability to act as a unified global force.
Expansion
BRICS as a Growing Global Counterweight
Expansion adds economic and demographic weight, bringing the group to about half of the world’s population and roughly two-fifths of global GDP.
BRICS as a Divided and Informal Bloc
The larger membership introduces competing interests, including tensions between Iran and the United Arab Emirates, while Saudi Arabia’s status remains unresolved.
Western financial systems
BRICS as a Growing Global Counterweight
BRICS members support alternatives such as the New Development Bank and a financial safety mechanism to reduce dependence on Western-led institutions; some members have also discussed a BRICS currency.
BRICS as a Divided and Informal Bloc
The articles describe these efforts as ambitions and overlapping functions rather than evidence that BRICS has replaced existing Western-led financial systems.
- 2026 summit
- September 12–13 at Bharat Mandapam in New Delhi, India
- India’s chairship
- Began January 1, 2026, under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”
- Member count
- The articles differ: one describes an 11-country bloc including Saudi Arabia, while another lists 10 members and says Saudi Arabia has not finalized its membership
- Population share
- About 49% of the world’s population
- Economic share
- Approximately 39–40% of global GDP; the second article specifies purchasing power parity
- Trade share
- About 23% of international trade, according to an overview by Brazil’s central bank
- India’s exports
- Exports to BRICS countries rose 48.8%, from USD 64.3 billion to USD 95.7 billion
- Financial institutions
- The bloc created the New Development Bank and a financial safety mechanism for economic crises
