BRICS

 ● BRICS is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China and South Africa. 

● The first BRIC Summit took place in 2009 in Russia and South Africa was invited to join BRIC in 2010 after which the group adopted the acronym BRICS. 

● The BRICS Leaders Summit is convened annually and the chairmanship is rotated annually among the members in accordance with the acronym B-R-I-C-S. 

 

Why in News: The 12th BRICS Summit was held under the chairmanship of Russia.The Theme of the summit was “Global Stability, Shared Security and Innovative Growth''.