BRICS+

• 5 new members
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Ethiopia
  • Egypt
• Argentina was invited, but they rejected
• emerged out of economic compulsion
• GDP of BRICS $=$ 36% of global GDP
• 47% of world population by 2050
• China and India together containing 1/3rd of world’s population
  • these are the fastest growing economies
  • by 2030 $\to$ among top 3 world economies
• global north and south divide
• de-dollarisation 💲 ❌
• gaining the trust of Africa
• India’s presidency at G20
  • inclusion of African Union