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WHAT STAND FOR BRICS…?
BRICS stand for Brazil, Russia, India, China, South Africa.
BRICS is international political organization of leading emerging economies its Five members are all developing and newly industrialized countries.
Agreements between group of countries within a geographic region To reduce & ultimately remove the tariff and non- tariff barriers to the free flow of the goods, Services and Factors of production between each other
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OBJECTIVE OF BRICS NATIONS.
To achieve regional development To remove trade barriers. Economic development. Optimum use of resources. Building relationship.
ABOUT BRICS FORUM
The BRICS Forum was formed in 2011
It is an independent international organization that works for a structured social, economic and environmentally sustainable BRICS block.
Currently the forum is working on building partnerships and collaborating with member state institutions.
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FOCUS OF BRICS FORUM
To establish a development bank to balance the influence of the World Bank and IMF, as well as creating a joint foreign exchange reserve.
Business Competitiveness Governance & Leadership Science & Technology Poverty Private Sector & Prevention of Corruption Investment Landscape Innovation in building Infrastructure Trade Healthcare
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BRAZIL
10th fastest growing economies in the last centuries.
Extremely rich in resources such as coffee, sugarcane, crude oil and iron etc.
Focus on equitable development has resulted in significant poverty reduction.
Textiles, chemicals , iron ore , steel and motor vehicles industries.
Brazil today is the most popular of the BRICs so far as foreign direct investment is concerned.
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RUSSIA Russia has capability in high-technology sectors
Accounts for around 20% of the world’s oil and gas reserves.
Fall in the number of people living below the poverty line.
Consumer market of over 140 million people.
68% of people comes under middle income group.
Highly educated workforce.
Third largest exporter of steel and aluminium7
INDIA 1.2 billion people
2nd largest labour force
Holds second place followed by China in BRICS
Democratic country.
Broad knowledge economy.
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CHINA 18Th fastest growing economy.
Third largest country in land size.
Biggest of all BRIC nations GDP wise.
13% of people comes under middle income group..
Holds more than $3 trillion forex reserves.
Largest exporter/ importer for 32 and 34 countries respectively.
Cheap labour work force 9
SOUTH AFRICA
The South African economy is now the 23rd largest in the world
Inflation is below 6.6% and falling.
25% of goods produced in South Africa are for export
Richest in terms of its mineral reserves.
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POTENTIAL MEMBERS
Indonesia, Turkey, Mexico and Germany have
been mentioned as candidates for full membership of the BRICS,while Egypt, Argentina, Iran, Nigeria, Syria
and most recently Bangladesh have
expressed interest in joining BRICS 11
FEW FACTS ABOUT THE BRICS
The BRICS countries make up 21 percent of global GDP. They have increased their share of global GDP threefold in the past 15 years.
The BRICS are home to 43 percent of the world's population.
The BRICS countries have combined foreign reserves of an estimated $4.4 trillion.
Intra-BRICS trade flows reached $282 billion in 2012 and are estimated to reach $500 billion by 2015. In 2002, it was $27.3 billion.
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SUMMITS
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TARGET SECTORS FOR BRICS TRADE
Manufacturing, services and agriculture
Energy, infrastructure, mining beneficiation and healthcare
Construction and water provision
The green economy and tourism15
CHALLENGES
Development of BRICS bank
Reducing the rural/urban income gap
Maintaining macroeconomic stability
Inadequate Financial reforms
Managing Supply Chain 16
ADVANTAGES India is also expected to grow faster than China after
2020 Rising incomes in the BRICs nations will create a new
middle consumer class Featured as- “Roadmap For Contribution” Important drivers for growth in the global economy.
Expansion of their consumer markets and the rise of multinational companies.
The establishment of a “positive multipolarity" in international affairs 17
DISADVANTAGES Lost speed and altitude over the past two years
Chances of Intra Trade Disputes are high
Difficulties of articulating their conflicting interests in some sort of common vision became more evident.
Different viewpoints and influence in the international arena.
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CONCLUSION
We believe the BRICS markets retain strong characteristics that attract equity investors.
We can count here a strong economic growth, favorable demographics, rich
natural resources, and strong finances. The worries and uncertainty will likely
continue to create some angst in the global market,
Butwe firmly believe that these markets should
do well in the long-term19
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THANK YOU