1. How BRICS Grew Over the Years

The grouping grew steadily from an economic prediction into a powerful voice for the developing world.

• The Spark: British economist Jim O’Neill coined the term “BRIC” in 2001, predicting these four nations would outpace the wealthy G7 economies by 2050.
• Coming Together: The leaders held their first official summit in Russia in 2009. South Africa joined a year later, completing the core “BRICS” family.
• Financial Independence: In 2014, the group signed the Fortaleza Declaration to create their own banks, aiming to reduce their reliance on the US dollar and the IMF.
• The 2023 Mega-Expansion: At the Johannesburg summit, the group invited heavyweights like Egypt, Ethiopia, Iran, and the UAE, massively boosting its global footprint.

2. Why BRICS is Crucial for India’s Foreign Policy

For New Delhi, this forum is a vital tool for maintaining a strong, independent voice on the world stage.

• A Louder Voice: India uses the combined weight of BRICS to demand fair voting rights in Western-dominated institutions like the UN Security Council and the World Bank.
• Balancing Beijing: By staying active inside BRICS, New Delhi prevents China from hijacking the platform to create an anti-American military club.
• Securing Oil and Trade: Since the newly expanded group includes top oil producers, it helps India secure stable energy supplies and trade directly in Indian Rupees.