Correct Answer: BRICS is basically an association of 5 major emerging national economies: Brazil, Russia,China, India and South Africa BRIC was coined in Foreign Ministerial meeting of Brazil,Russia,China and India in Newyork in Sept 2006 BRIC officialy came in existance in 2009 at Yekaterinburg,Russia At start group was named as BRIC, but after being formally invited by the BRIC countries to join the group, South Africa officially became a member nation on 24 December 2010, and the group was renamed BRICS
