BRICS GK Notes: Year-wise Events, Institutions & Latest Expansion
This article provides a complete set of BRICS GK questions and answers, covering the formation of BRICS in 2006, important summits, creation of the New Development Bank (NDB) and Contingent Reserve Arrangement (CRA), space cooperation, and the latest BRICS+ expansion (2024).
The content is presented in a year-wise, exam-oriented format, making it highly useful for UPSC, PSC, SSC, Banking, Railways, and school-level exams. Ideal for quick revision, competitive exam preparation, and general knowledge enhancement.
BRICS: Year & Event-Based Timeline
2006 – Formation of BRIC
July 2006
BRIC was formed by Brazil, Russia, India, and China.
The term “BRIC” was coined by Jim O’Neill, an economist at Goldman Sachs, highlighting these countries as emerging economic powers.
2009 – First BRIC Summit
16 June 2009
The first BRIC Summit was held in Yekaterinburg, Russia.
2010 – South Africa Joins
September 2010
South Africa was accepted as a full member during the BRIC Foreign Ministers’ meeting in New York.
BRIC became BRICS.
2011 – First BRICS Summit
April 2011
The 3rd BRICS Summit and 1st with South Africa was held in Sanya, China.
This marked the complete formation of BRICS.
2014 – NDB & CRA Agreement
15 July 2014
At the BRICS Summit in Fortaleza, Brazil, an agreement was signed to establish:
New Development Bank (NDB)
Contingent Reserve Arrangement (CRA)
2015 – NDB Operations Begin
21 July 2015
The New Development Bank (NDB) officially started operations.
Headquarters: Shanghai, China
Authorized Capital: USD 100 Billion
2021 – BRICS Space Cooperation
August 2021
Space agencies of the five BRICS nations signed an agreement outlining:
Six satellites
Five ground stations
Cooperation in Earth observation and space research.
2023 – 15th BRICS Summit
August 2023
BRICS invited six new countries to become full members.
Membership effective from 1 January 2024.
2024 – BRICS Expansion (BRICS+)
After adding five new members, BRICS expanded to 10 countries (BRICS+).
New Members:
Iran
UAE
Ethiopia
Egypt
Indonesia
Argentina was invited but did not join.
Key Objectives of BRICS
Increase influence of emerging economies in global politics.
Challenge dominance of Western nations in IMF and World Bank.
Provide greater voice and representation for developing countries.
BRICS+ Global Share (Approx.)
36% of world GDP (PPP, 2022)
46% of world population
25% of global exports
41% of world population
29.3% of total land surface
BRICS – GK Questions & Answers
Formation & Early Years
Q: In which year was BRIC formed?
A: 2006
Q: Which countries were the founding members of BRIC?
A: Brazil, Russia, India, and China
Q: Who coined the term “BRIC”?
A: Jim O’Neill
Q: Jim O’Neill was an economist at which organization?
A: Goldman Sachs
Summits & Expansion
Q: When and where was the first BRIC Summit held?
A: 16 June 2009, Yekaterinburg, Russia
Q: Which country joined BRIC in 2010, making it BRICS?
A: South Africa
Q: In which year did South Africa officially join BRICS?
A: 2010
Q: Where was the first BRICS Summit held?
A: Sanya, China
Q: In which year was the first BRICS Summit conducted?
A: 2011
Institutions of BRICS
Q: Which two major institutions were created by BRICS in 2014?
A: New Development Bank (NDB) and Contingent Reserve Arrangement (CRA)
Q: Where was the NDB agreement signed?
A: Fortaleza, Brazil
Q: When did the New Development Bank start operations?
A: 21 July 2015
Q: Where is the headquarters of the New Development Bank located?
A: Shanghai, China
Q: What is the authorized capital of NDB?
A: USD 100 Billion
Space & Cooperation
Q: In which year did BRICS sign a space cooperation agreement?
A: 2021
Q: How many satellites were planned under the BRICS space cooperation?
A: Six satellites
Recent Developments (BRICS+)
Q: Which BRICS Summit invited new member countries?
A: 15th BRICS Summit (2023)
Q: From which date did the new BRICS members become effective?
A: 1 January 2024
Q: How many countries are there in BRICS+?
A: 10 countries
Q: Name any three new BRICS member countries.
A: Iran, UAE, Egypt (also Ethiopia, Indonesia)
Q: Which country was invited to BRICS but did not join?
A: Argentina
Objectives & Importance
Q: What is the main objective of BRICS?
A: To increase the influence of emerging economies in global governance.
Q: Which global institutions’ dominance does BRICS aim to balance?
A: IMF and World Bank
BRICS Global Share
Q: BRICS+ accounts for approximately what percentage of world GDP (PPP)?
A: 36%
Q: What percentage of the world population is represented by BRICS+?
A: 46%
Q: BRICS contributes approximately what percentage of global exports?
A: 25%
One-Liner GK (Quick Revision)
BRICS headquarters city of NDB: Shanghai
First BRICS Summit year: 2011
BRICS space cooperation year: 2021
Total founding members: 4