Presented By –

1. Pappu Kumar

2. Rishabh

Pandey

3. Rachna

The foreign ministers of the initial four BRIC countries (Brazil, Russia, India, and China) met in New York City in September 2006, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 May 2008.

Entry of South Africa

In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year.South Africa officially became a member nation on 24 December 2010, after being formally invited by the BRIC countries to join the group. The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership. In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.

KEYADVANTAGES

One of the fastest growing economies in last century.

Brazilian economy becoming less dependent on exports.

Extremely rich in resources such as coffee, sugarcane,iron and crude oil etc.

CHALLENGES FOR THE FUTURE

Overburdended and ineffective judicial system.

Industrial output is weak.

Russia

KEYADVANTAGES

Russia has capability in high-techonology sectors

Accounts for around 20% of the world’s oil and gas reserves

Fall in the number of people living below the poverty line

CHALLENGES FOR THE FUTURE

Labor shortages and poorly developed infrastructure

Corruption

KEYADVANTAGES

1.15 billion people

2nd largest labor force

Approximately 205 million college graduates per year

CHALLENGES FOR THE FUTURE

Improving basic educational achievment

Improving infrastructure and electrical capacityExpanding technology industry

KEYADVANTAGES

Broad expansion of educational achievment

Rapid economic growth

Third largest country in land size

CHALLENGES FOR THE FUTURE

Support to rural areas and less-developed regions.

Bank of china sees inflation as a bigger risk.

Need to improvr the investment

KEYADVANTAGES

The South African economy is now the 23rd largest in the world

Inflation is now below 5% and falling.

25% of goods produced in south Africa are for export

CHALLENGES

The economy is growing but not fast enough

Lack of skills, particularly in IT.

48% of the population is living below the poverty line.

BRICS Countries Statistics

Brazil, Russia, India, China and South Africa

BRICS Countries make up approximately 40% of the worlds population.

BRICS control 25.9% of the total geographic area of the world.

BRICS make up 25% of the global GDP.

BRICS currencies Could Appreciate by 300% by 2050.

BRICS holds 3.93 trillion in foreign reserves.

The rising middle class in these countries has increased their purchasing power.

The GDP growth rates for BRIC countries are much higher than in developed countries markets.

By 2050, three of the largest four economies will be from Asia.

Opportunities for BRICS Countries

High growth rates

Increased foreign direct investment

Investment in infrastructure

Growing middle class boosts demand

Large supply of educated cheap workforce

High potential for supply of outscore work

Abundant agricultural/mineral resources

Rapid expansion of commodity markets

Business confidence

Challenges of BRICS Countries

Volatile markets

Unstable economies

Geographic locations where natural disasters happen

Export driven economies

Weak Infrastructure

Energy concerns

Shortage of skilled workers areas