BRICS has expanded from a forum of four emerging economies in 2006 to a bloc of 11 nations by 2024, positioning itself as a non-Western alternative for global economic cooperation. Originally conceived in 2001 by economist Jim O’Neill, the group includes Brazil, Russia, India, China, and South Africa, with recent additions aimed at strengthening multilateralism, according to Firstpost.

Key initiatives, such as the New Development Bank and alternative trade arrangements, have attempted to minimize dependency on Western-dominated institutions like the IMF and World Bank. However, the group faces increasing internal and external challenges.

Internally, China’s push to lead the bloc and align it with its larger anti-Western agenda backed by Russia has created worries, particularly among founding members like as India. Externally, US President Donald Trump has threatened 100 percent tariffs if the BRICS pursues dedollarization or introduces a common currency, Firstpost reported.