BRICS Announces Expansion; 6 More Countries Added (Image: twitter.com/BRICSinfo)

On the occasion of the 15th anniversary of BRICS, a grouping of the economies of the global south consisted of Brazil, Russia, India, China, and South Africa, have taken the decision to expand the forum. The newly added member countries include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE. Indian Prime Minister Narendra Modi said such an expansion will make BRICS stronger and more effective.

“On the occasion of the 15th anniversary of BRICS, we have taken the decision to expand this forum. India has always fully supported this expansion. Such an expansion will make BRICS stronger and more effective. In that spirit, India welcomes Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and UAE into the BRICS family,” PM Modi said in an X (formerly Twitter) post today.

Prime Minister Modi, while addressing the media on the decision to expand the grouping, said the expansion and modernization of BRICS is a message that all the institutions of the world should adapt to the changing circumstances.

“This is an initiative that can set an example for the reform of other global institutions established in the twentieth century,” he added.

According to reports, the membership of the newly added members will come into effect from January 1, 2024. After admitting six new members, total numbers of member countries reached 11 in BRICS grouping.

BRICS, according to its formation agreement, aims to support infrastructure and sustainable development projects in emerging markets and its developing countries.