Evolution of BRICS in International Political Economy

Abstract

In an era of regional integration and interdependence, organisations like the Brazil, Russia, India, China and South Africa (BRICS) can play a meaningful role in not only the international level but also regionally. The recent summit of the BRICS reiterates that more cooperation is needed at various levels.1 It calls for a more representative international financial architecture demanding an increase in the voice and representation of developing countries. The establishment has also improved international monetary as well as trade systems which can serve the interests of all countries and support developing economies. This paper analyses the tendency of BRICS towards economic integration, its evolving nature in global political economy both political as well as economical aspects.