BRICS

IN NEWS:

• Commerce and industry minister Piyush Goyal called upon BRICS nations to enhance transparency in trade and build trust during the 10th meeting of BRICS trade ministers.

About BRICS:

• BRICS is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.
• The BRIC grouping's first formal summit was held in 2009  in Yekaterinburg in Russia.
• South Africa joined in 2010.
• Since 2009, the BRICS nations have met annually at formal summits.
• China hosted the 9th BRICS summit in Xiamen in September 2017, while Brazil hosted the most recent 11th BRICS summit on 13–14 November 2019.
• 2020 Summit of BRICS was proposed to be in Russia, but has been postponed due to the pandemic.

PRELIMS QUESTION

The first formal summit of BRIC nations, later BRICS, was held in:    
(a)2012 in China
(b)2005  in India
(c)2009 in Russia
(d)2007 in Brazil

Answer to prelims question