Less BRIC-bats now

Given two of the BRICS nations are among the world’s top five economies (in PPP terms) and four in the top ten, and the group is all set to overtake the G6 by 2030 (in real dollars!), it’s surprising that the group that Goldman Sachs’ Jim O’Neill christened a decade ago hasn’t come together more forcefully till now. Which is why the promises made by BRICS chiefs at the 4th BRICS Summit offer hope, especially in an environment where no progress is being made, or can be expected, on liberalisation of global trade rules.

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