Q: With reference to a grouping of countries known as BRICS, consider the following statements:
a) The First Summit of BRICS was held in Rio de Janeiro in 2009.
b) South Africa was the last to join the BRICS grouping.
The Correct Answer is Option 2.
BRICS
- It is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
- Originally there were four nations grouped as “BRIC” (or “the BRICs”). South Africa became the member in 2010 and was last to join. Hence Statement 2 is Correct.
- The BRIC grouping’s first meeting was held in Yekaterinburg, Russia. Hence Statement 1 is not Correct.
- The importance of BRICS is self-evident: it represents 42% of the world’s population, 30% of the land area, 24% of global GDP and 16% of international trade.
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