A Presentation on….

BY:

SURANJAN JEET

BRICS

FLOW OF PRESENTATION Introduction Meaning of BRICS From BRIC to BRIC’S Areas of Focus Objectives of BRICS BRICS Summit Financial Contributions SWOT Analysis Criticism Future of BRICS Conclusion

“In Economic, BRICS is an acronym that refers to countries- Brazil, Russia, India, China and South Africa”

BRICS Jim O'Neill, global economist at Goldman Sachs. Building Better Global Economic BRICS. Biggest and fastest growing emerging economies BRIC was first prominently used in a Goldman Sachs

report from 2003

FROM BRIC to BRIC’S South Africa has been formally asked to join the BRIC

group of major emerging markets Invited by China Officially admitted as a BRIC nation on December 24, 2010 South Africa stands at a unique position to influence African

economic growth and investment China is South Africa’s largest trading partner India wants to increase commercial ties with Africa

AREAS OF FOCUS

• TRADE• EDUCATION• TECHNOLOGY• ECONOMY• PEACE AND SECURITY

Objectives of BRICS

To achieve regional development To remove trade barriers Economic development Optimum use of resources Building relationship

BRICS SummitFirst official summit on 16 June 2009, in

Yekaterinburg, Russia.The current global financial crisis, global

development, and further strengtheningSeven Summits have held so far in various member

countriesGroupings are always held with member countries

taking turn to host.

The Fourth BRICS Summit was hosted in New Delhi on

29 March 2012 under the theme of “BRICS Partnership for Global Stability, Security and Prosperity.” The Summit has imparted further momentum to the BRICS process of planning a joint development bank.

BRICS Summit (Contd.) This year in 2016, Summit in Goa (India)8th summit

Financial contribution India has provided loans of more than $200million to

the African countries since 2009.�China has invested almost $4000 million as foreign direct

investment.�Russia too has contributed more than $3000million as

FDI�Brazil has invested around $4000 million in Africa.

SWOT Analysis Strength of the BRICS nations1- To use resources.2-Market opportunities.3-Economic developments.Weakness of the BRICS nations 1- Population problem.2- lack of Infrastructure.3- Decreasing GDP growth rate.

Cont…Opportunities of the BRICS nations 1- To expand the market.2- Regional development.3-Monetry resources.

Threats of the BRICS nations 1-Financial crises.2- Threats from other unions.3-dollar role

Criticism The BRICS dream isn’t green.

Nothing more than a neat acronym for the five largest emerging market economies.

A criticism is that the BRICS projections are based on the assumptions that resources are limitless and endlessly available when needed

Cont….

BRICS doesn’t have a concrete and constructive agenda for change or vision for a future world order.

China is the muscle of the group and the Chinese know it. They have effective veto power over any BRICS initiatives

Future of BRICS: Already BRICS accounts for:

40 per cent of the world's population, 25.9 per cent of its total geographic area, 40 per cent of global GDP

By 2050, BRICS countries expected to accounts for over 40% of the world’s population and 60% of global GDP.

Cont… BRICS could be larger economies than the united states and

the developed economies of Europe within 40 years . • China and India will become world’s dominant suppliers– manufactured goods and services

• Brazil and Russia will become dominant suppliers– raw materials

Conclusion

The BRICS have come together in a political grouping in a way that has far exceeded most expectations.Although BRICS cooperation has been significant, intra- BRIC competition and rivalry are important limits on how much further BRICS cooperation can go.BRICS nations have the potential and the resources to form a powerful economy with greater opportunity than any other nation