This was revealed yesterday ahead of Brics' two-day summit which is underway at Kazan in Russia from today.
Considering that 43% of the world's population and 27% of the world reside within the bloc and some countries ditching the dollar as trading currency, experts believe Brics would soon overtake the G7, a group of rich mainly Western countries.
The demand for Brics membership has set unprecedented records in multilateral relations, with some European nations said to be also interested to be enlisted into alliance.
Iran, Egypt, United Arab Emirates (UAE) and Ethiopia will occupy their seats at the summit after they were admitted to the bloc in January.
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