What is main purpose of BRICS?
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In 2006, Brazil, Russia, India and China created the “Bric” group. South Africa joined in 2010, making it “Brics”. The group was designed to bring together the world’s most important developing countries, to challenge the political and economic power of the wealthier nations of North America and Western Europe.
BRICS is an acronym for the powerful grouping of the world’s leading emerging market economies, namely Brazil, Russia, India, China and South Africa. The BRICS mechanism aims to promote peace, security, development and cooperation.