Johannesburg. 24 Aug: BRICS, the group of five countries Brazil, Russia, India, China, and South Africa, has agreed to add more countries to it.
During the 15th summit in Johannesburg, South Africa agreed to add Argentina, Egypt, Iran, Saudi Arabia, Ethiopia, and UAE to the group. The announcement was made by the President of South Africa.
The group was formed in 2001 by Brazil, Russia, India, and China to provide a collective representation in the global economy. South Africa was added to the group in 2010. The group is now of 11 members.
However, the membership of the new nations will be effective from the year 2024.
Prime Minister Narendra Modi also confirmed about inclusion of six nations in BRICS.
