Consider the following statements regarding the BRICS countries:

The term 'BRICS' was coined by British economist Jim O'Neill in 2001.

The Beijing Declaration marked the establishment of the New Development Bank (NDB).

The members of BRICS include Brazil, Russia, India, Indonesia, China, and South Africa.

Which of the above statements is/are correct?

Question

In 2001, British economist Jim O'Neill coined the acronym 'BRICS' to represent the emerging economies of Brazil, Russia, India, and China.
The Fortaleza Declaration, adopted at the 6th BRICS Summit, led to the creation of the New Development Bank (NDB).
The members of BRICS include Brazil, Russia, India, China, and South Africa. Indonesia has officially joined the BRICS as a full member recently. The group, which brings together major emerging economies, now consists of Brazil, Russia, India, China, South Africa, and Indonesia.

GKToday Admin · Accepted Answer

1 and 3

In 2001, British economist Jim O'Neill coined the acronym 'BRICS' to represent the emerging economies of Brazil, Russia, India, and China.
The Fortaleza Declaration, adopted at the 6th BRICS Summit, led to the creation of the New Development Bank (NDB).
The members of BRICS include Brazil, Russia, India, China, and South Africa. Indonesia has officially joined the BRICS as a full member recently. The group, which brings together major emerging economies, now consists of Brazil, Russia, India, China, South Africa, and Indonesia.

Current Affairs