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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Newnham has Sha Tin ambitions
Mark Newnham is rolling through his second season in Hong Kong with flying colours and today the trainer saddles five runners at Sha Tin's eight-race all-dirt programme.
Work and racy return as Ford prices new Transit Custom Sport
Ford has officially confirmed pricing of the new Transit Custom Sport.
Uphill battle looms for Royal AM
Embattled Betway Premiership club Royal AM's trip to Tshwane to face the reigning champions Mamelodi Sundowns couldn't have come at the worst possible time.
Sasol shares slump amid poor show
The stronger rand against the dollar, oil price volatility, and lower refining margins all impacted JSE-listed Sasol's business for the three months ended 30 September this year.
TALKING ABOUT...
Astronauts on Nasa mission will wear Prada for moonwalk
Navalny still has huge support
Paris â Well-wishers cover the grave of Russian opposition figure Alexei Navalny with flowers every day, showing he still has âhuge numbers of supportersâ, his widow Yulia Navalnaya said yesterday.
Street names are significant
The quote, âA rose by any other name would smell as sweetâ, from Shakespeareâs play, Romeo and Juliet, is what Juliet thought at that moment â that a name is just a label to distinguish one thing from another.
Iran clears the air over its space
Kuwait City â Iranâs neighbours have pledged they will not allow the use of their âsoil or airspaceâ for any att ack, Iranian Foreign Minister Abbas Araghchi said yesterday, as Israel weighs a retaliation for the Islamic republicâs missile strike.
Gaza: poverty rate 'doubles'
REPORT: ADDITIONAL 2.61 MILLION PALESTINIANS POOR
King Charles sails through Oz
Sydney - King Charles III greeted throngs of admirers under the sails of the Sydney Opera House yesterday, the public finale to his first major foreign sojourn since falling sick with cancer.