ABSTRACT
BRICS, consisting of Brazil, Russia, India, China and South Africa, was formed in the background of certain trends in the post-Cold War period that were detrimental to their interests. Consequently, the most important goal of the organisation has been to create a multi-polar, equitable, non-hegemonic and non-discriminatory global order. Towards this end, it seeks not just to enhance the role of BRICS at the international level but establish new norms of global governance.
The further progress of BRICS, however, is premised on many other factors like how the group manages the different foreign policy orientations of member states and the complex bilateral relations among some of them. Many constraints – multilateral, bilateral and national – need to be overcome before BRICS can realise its potential of becoming one of the leading and enduring organisations. This article discusses the genesis and history of the organisation, its role in addressing various global issues and creating alternative financial institutions, while looking at the problems it faces in its future growth.
