International Relations question from JKAS Prelims, 2021 by JKPSC
Who has coined the term 'BRICS', an association of five emerging national economies?
Last updated May 13, 2026
Correct Answer:
Option C —
Jim O'Neil
The term was coined by Jim O'Neill, a British economist who was then the Chairman of Goldman Sachs Asset Management. He originally introduced the acronym as "BRIC" in a 2001 paper titled "Building Better Global Economic BRICs." At the time, he used the term to identify the four fast-growing economies—Brazil, Russia, India, and China—that he predicted would collectively dominate the global economy by 2050. South Africa was officially invited to join the group in 2010, at which point the acronym became "BRICS."
Key Milestones
2001: Term "BRIC" coined by Jim O'Neill.
2006: First formal meeting of BRIC Foreign Ministers (on the sidelines of the UN General Assembly).
2009: First formal Summit held in Yekaterinburg, Russia.
2010: South Africa joins, expanding the group to BRICS.
2024: The group underwent a major expansion, inviting countries including Egypt, Ethiopia, Iran, and the United Arab Emirates to join.
Answer verified by Quintessence Classes faculty — Karan Nagar, Srinagar.
