When the BRICS group was established in 2009, it was widely viewed as an economic grouping. It was an association of emerging economies whose global relevance was being propelled by the enormous economic potential of its members.
BRICS countries felt constrained by an international economic system that was largely conceived by the West. It, therefore, sought fundamental reforms in institutions such as the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO), which are seen