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ECONOMICS
ASSIGNMENT ON BRICS
“B” BRAZIL
“R”RUSSIA
“I”INDIA
“C”CHINA
“S”SOUTH AFRICA
Present by
GOVARDHAN
R.NO:51
DILEEP KUMAR
R.NO:72
INTRODUCTION TO BRICS
BRICS came ino existence in the year 2001 as
BRICSNATIONS
BRICS is International political organization of leading
emerging economics its 5 members are all developing
industrialized countries
Biggest and fastest growing emerging economies
Term BRICS was first prominently used in a Goldman Sachs
report from 2003
Jim o’neill, chairman of Goldman sachs asset management,
coined the term in 2001
With the entrance off South Africa in the third BRICS
summit in April 2011
BRIC became BRICS with capital
BRICS forum was formed in 2011 and it is an international
organization that works for a structured social, economics
and environmentally sustainable BRICS block
OBJECTIVES
To achieve regional development
To remove trade barriers
Economics development
Optimum use of resources
Building relationship
Focus of BRICS forum
BRAZIL
One of the fastest growing economic
Brazilian economy becoming less dependent on exports
Extermely rich in resources such as coffee sugarcane iron
etc
RUSSIA
It has capable high technology sectors
Accounts for 20% of worlds oil gas reserves
Fall in the number of peoples living the below poverty lines
INDIA
Access to financing
Restrictive labour regulation
Corruption
CHINA
Broad expansion of educational achievement
Rapid economic growth
Third largest country in land
SOUTH AFRICA
23RD largest economy in world
Inflation is now below 5% and falling
25% of goods producing in south Africa and export
BRICS DEVELOPMENT BANK
Meeting the development needs in BRICS and other
emerging economics and development countries
DEVELOPMENT NEEDS OF EMERGING DEVELOPMENT
ECONOMIES
Meeting the basic needs
In any economy focus on education healthe care food
security and ensuring a minimum standard of living to
citizens
INFRASTRUCTURE
Its refers to services and facilities and necessary for
economy
To function smoothly such facilities
Like schools hospitals roads telecommunication etc.
RESEARCH AND DEVELOPMENTOF CLEANER
TECHNOLOGIES
As we all know most development countries have there
energy needs met by non renewable resources
It must find alternative sourcing in the form of
cleanertechnology which causes less degradation to
environment