It’s the second time that BRICS has decided to expand. The bloc was formed in 2009 with fifth member South Africa added in 2010. The BRICS bloc currently represents around 40 per cent of the world’s population and contributes more than a quarter of global GDP.

Brazilian President Luiz Inácio Lula da Silva, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping, are attending the summit with Ramaphosa, while Russian President Vladimir Putin participated virtually.

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