BRICS for Building Responsive, Inclusive, Collective Solutions: PM

November 15, 2015 16:23

Prime Minister Narendra Modi today termed the BRICS as 'Building Responsive, Inclusive and Collective Solutions', which will be the theme of the 5-nation group when India assumes its presidency next year.

"The theme of India's BRICS Chairmanship will be 'Building Responsive, Inclusive and Collective Solutions' which, in short, will be 'BRICS'. It aptly describes the ethos of our group," he said at the BRICS Summit on the sidelines of the two-day G20 Summit here.

A Goldman Sachs' economist had coined the BRIC acronym to represent world's four main emerging economic powers -- Brazil, Russia, India and China. In 2011, another major emerging economy South Africa joined the group and 'BRIC' became 'BRICS'. India will take over chairmanship from Russia, which heads the group at present.

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