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# BRICS: A Growing Force in Global Economics and Politics BRICS is an intergovernmental organization comprising eleven major emerging economies : Brazil , Russia , India , China , South Africa , Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. These countries represent around 49.5% of the global population, 40% of the global GDP, and 26% of global trade ¹. *History and Objectives* The BRICS concept was first introduced in 2001 by British economist Jim O'Neill to designate a group of emerging markets. The first summit was held in 2009 in Yekaterinburg, Russia, where the founding countries - Brazil, Russia, India, and China - adopted the acronym BRIC. South Africa joined in 2011, and the group was renamed BRICS. The organization's primary objectives include ² ³: - *Key Features and Initiatives* - *New Development Bank*: A multilateral development bank focused on infrastructure projects, with authorized lending of up to $34 billion ...