BRICS institutional framework
As BRICS Chair in 2026, India issued a Chair’s summary expressing deep concern over the West Asia conflict, amid differing member positions. BRICS is an intergovernmental cooperation forum; term coined by Jim O’Neill (Goldman Sachs) in 2001; first BRIC Foreign Ministers’ meet held at UNGA, New York (2006); South Africa joined in 2010. Chair rotates annually (Jan 1–Dec 31); pillars: political-security, economic-financial, cultural. BRICS has no permanent secretariat/charter; NDB set up at Fortaleza Summit (2014), HQ Shanghai; CRA provides BoP liquidity via swaps. Full members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, UAE, Indonesia; partners: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, Vietnam.



