BRICS is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Originally the first four were grouped as "BRIC" (or "the BRICs"), before the induction of South Africa in 2011. The BRICS members are known for their significant influence on regional affairs; all are members of G20. Since 2009, the BRICS nations have met annually at formal summits. China hosted the 9th BRICS summit in Xiamen on September 2017, while South Africa hosted the most recent 10th BRICS summit in July 2018. The term does not include countries such as South Korea, Mexico and Turkey for which other acronyms and group associations were later created.
In 2015, the five BRICS countries represent over 3.1 billion people, or about 41% of the world population; four out of five members (excluding South Africa at #24) are in the top 10 of the world by population. As of 2018, these five nations have a combined nominal GDP of US$18.6 trillion, about 23.2% of the gross world product, combined GDP (PPP) of around US$40.55 trillion (32% of World's GDP PPP) and an estimated US$4.46 trillion in combined foreign reserves. Overall the BRICS are forecasted to expand 4.6% in 2016, from an estimated growth of 3.9% in 2015. The World Bank expected BRICS growth to increase to 5.3% in 2017. The BRICS have received both praise and criticism from numerous commentators. Bilateral relations among BRICS nations have mainly been conducted on the basis of non-interference, equality, and mutual benefit.
The term "BRIC" was coined in 2001 by then-chairman of Goldman Sachs Asset Management, Jim O'Neill, in his publication Building Better Global Economic BRICs. The foreign ministers of the initial four BRIC states (Brazil, Russia, India, and China) met in New York City in September 2006 at the margins of the General Debate of the UN General Assembly, beginning a series of high-level meetings. A full-scale diplomatic meeting was held in Yekaterinburg, Russia, on 16 June 2009.
The BRIC grouping's first formal summit, also held in Yekaterinburg, commenced on 16 June 2009, with Luiz Inácio Lula da Silva, Dmitry Medvedev, Manmohan Singh, and Hu Jintao, the respective leaders of Brazil, Russia, India and China, all attending. The summit's focus was on means of improving the global economic situation and reforming financial institutions, and discussed how the four countries could better co-operate in the future. There was further discussion of ways that developing countries, such as 3/4 of the BRIC members, could become more involved in global affairs.
In the aftermath of the Yekaterinburg summit, the BRIC nations announced the need for a new global reserve currency, which would have to be "diverse, stable and predictable". Although the statement that was released did not directly criticise the perceived "dominance" of the US dollar – something that Russia had criticised in the past – it did spark a fall in the value of the dollar against other major currencies.
In 2010, South Africa began efforts to join the BRIC grouping, and the process for its formal admission began in August of that year. South Africa officially became a member nation on 24 December 2010, after being formally invited by the BRIC countries to join the group. The group was renamed BRICS – with the "S" standing for South Africa – to reflect the group's expanded membership. In April 2011, the President of South Africa, Jacob Zuma, attended the 2011 BRICS summit in Sanya, China, as a full member.
The BRICS Forum, an independent international organisation encouraging commercial, political and cultural cooperation between the BRICS nations, was formed in 2011. In June 2012, the BRICS nations pledged $75 billion to boost the lending power of the International Monetary Fund (IMF). However, this loan was conditional on IMF voting reforms. In late March 2013, during the fifth BRICS summit in Durban, South Africa, the member countries agreed to create a global financial institution which they intended to rival the western-dominated IMF and World Bank. After the summit, the BRICS stated that they planned to finalise the arrangements for this New Development Bank by 2014. However, disputes relating to burden sharing and location slowed down the agreements.
At the BRICS leaders meeting in St Petersburg in September 2013, China committed $41 billion towards the pool; Brazil, India and Russia $18 billion each; and South Africa $5 billion. China, holder of the world's largest foreign exchange reserves and who is to contribute the bulk of the currency pool, wants a greater managing role, said one BRICS official. China also wants to be the location of the reserve. "Brazil and India want the initial capital to be shared equally. We know that China wants more," said a Brazilian official. "However, we are still negotiating, there are no tensions arising yet." On 11 October 2013, Russia's Finance Minister Anton Siluanov said that a decision on creating a $100 billion fund designated to steady currency markets would be taken in early 2014. The Brazilian finance minister, Guido Mantega stated that the fund would be created by March 2014. However, by April 2014, the currency reserve pool and development bank had yet to be set up, and the date was rescheduled to 2015. One driver for the BRICS development bank is that the existing institutions primarily benefit extra-BRICS corporations, and the political significance is notable because it allows BRICS member states "to promote their interests abroad... and can highlight the strengthening positions of countries whose opinion is frequently ignored by their developed American and European colleagues."
In March 2014, at a meeting on the margins of the Nuclear Security Summit in The Hague, the BRICS Foreign Ministers issued a communique that "noted with concern, the recent media statement on the forthcoming G20 Summit to be held in Brisbane in November 2014. The custodianship of the G20 belongs to all Member States equally and no one Member State can unilaterally determine its nature and character." In light of the tensions surrounding the 2014 Crimean crisis, the Ministers remarked that "The escalation of hostile language, sanctions and counter-sanctions, and force does not contribute to a sustainable and peaceful solution, according to international law, including the principles and purposes of the United Nations Charter." This was in response to the statement of Australian Foreign Minister Julie Bishop, who had said earlier that Russian President Vladimir Putin might be barred from attending the G20 Summit in Brisbane.
In July 2014, the Governor of the Russian Central Bank, Elvira Nabiullina, claimed that the "BRICS partners the establishment of a system of multilateral swaps that will allow to transfer resources to one or another country, if needed" in an article which concluded that "If the current trend continues, soon the dollar will be abandoned by most of the significant global economies and it will be kicked out of the global trade finance."
Over the weekend of 13 July 2014, when the final game of the FIFA World Cup was held, and in advance of the BRICS Fortaleza summit, Putin met fellow leader Dilma Rouseff to discuss the BRICS development bank, and sign some other bilateral accords on air defence, gas and education. Rouseff said that the BRICS countries "are among the largest in the world and cannot content themselves in the middle of the 21st century with any kind of dependency." The Fortaleza summit was followed by a BRICS meeting with the Union of South American Nations president's in Brasilia, where the development bank and the monetary fund were introduced. The development bank will have capital of US$50 billion with each country contributing US$10 billion, while the monetary fund will have US$100 billion at its disposal.
On 15 July, the first day of the BRICS 6th summit in Fortaleza, Brazil, the group of emerging economies signed the long-anticipated document to create the US$100 billion New Development Bank (formerly known as the "BRICS Development Bank") and a reserve currency pool worth over another US$100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked.
At the end of October 2014, Brazil trimmed down its US government holdings to US$261.7 billion; India, US$77.5 billion; China, US$1.25 trillion; South Africa, US$10.3 billion.
In March 2015, Morgan Stanley stated that India and Indonesia had escaped from the 'fragile five' (the five major emerging markets with the most fragile currencies) by instituting economic reforms. Previously, in August 2013, Morgan Stanley rated India and Indonesia, together with Brazil, Turkey and South Africa, as the 'fragile five' due to their vulnerable currencies. But since then, India and Indonesia have reformed their economies, completing 85% and 65% of the necessary adjustments respectively, while Brazil had only achieved 15%, Turkey only 10%, and South Africa even less.
After the 2015 summit, the respective communications ministers, under a Russian proposal, had a first summit for their ministries in Moscow in October where the host minister, Nikolai Nikiforov, proposed an initiative to further tighten their information technology sectors and challenge the monopoly of the United States in the sector.
Since 2012, the BRICS group of countries have been planning an optical fibre submarine communications cable system to carry telecommunications between the BRICS countries, known as the BRICS Cable. Part of the motivation for the project was the spying of the National Security Agency on all telecommunications that flowed across the US.
The BRICS is an association formed by countries in four continents: Brazil in the Americas, Russia in Europe, India and China in Asia and South Africa in Africa. Its member states cover an area of over 39,000,000 square kilometers, which is approximately 27% of the world's land surface.
The grouping has held annual summits since 2009, with member countries taking turns to host. Prior to South Africa's admission, two BRIC summits were held, in 2009 and 2010. The first five-member BRICS summit was held in 2011. The most recent BRICS summit took place in South Africa from 25 to 27 July 2018 .
|Sr. No.||Date(s)||Host country||Host leader||Location||Notes|
|1st||16 June 2009||Russia||Dmitry Medvedev||Yekaterinburg (Sevastianov's House)|
|2nd||15 April 2010||Brazil||Luiz Inácio Lula da Silva||Brasília||Guests: Jacob Zuma (President of South Africa) and Riyad al-Maliki (Foreign Minister of the Palestinian National Authority)|
|3rd||14 April 2011||China||Hu Jintao||Sanya (Sheraton Sanya Resort)||First summit to include South Africa alongside the original BRIC countries.|
|4th||29 March 2012||India||Manmohan Singh||New Delhi (Taj Mahal Hotel)||The BRICS Cable announced an optical fibre submarine communications cable system that carries telecommunications between the BRICS countries.|
|5th||26–27 March 2013||South Africa||Jacob Zuma||Durban (Durban ICC)|
|6th||14–17 July 2014||Brazil||Dilma Rousseff||Fortaleza (Centro de Eventos do Ceará)
|BRICS New Development Bank and BRICS Contingent Reserve Arrangement agreements signed.|
Guest: Leaders of Union of South American Nations (UNASUR)
|7th||8–9 July 2015||Russia||Vladimir Putin||Ufa (Congress Hall)||Joint summit with SCO-EEU|
|8th||15–16 October 2016||India||Narendra Modi||Benaulim (Taj Exotica)||Joint summit with BIMSTEC|
|9th||3–5 September 2017||China||Xi Jinping||Xiamen (Xiamen International Conference Center)||Joint summit with EMDCD|
|10th||25–27 July 2018||South Africa||Cyril Ramaphosa||Johannesburg (Sandton Convention Centre)|
|12th||TBD 2020||Russia||Vladimir Putin||Chelyabinsk||Joint summit with SCO|
|Country||Population (2018)||Nom. GDP bil. USD (2019 est.)||PPP GDP bil. USD (2019 est.)||Nom. GDP per capita USD (2019 est.)||PPP GDP per capita USD (2019 est.)||GDP growth
|Foreign Exchange Reserves (2018)||HFCE (2013)||Government spending||Exports||Imports||Literacy rate||Life expectancy (years, avg.)||HDI (2017)|
|Brazil||210,867.954||1,930||3,524||9,160||16,727||0.7%||$379,444 million||$1,401,620 bn||$846.6 bn||$217.2 bn||$151.9 bn||91.7%||75.1||0.759 (high)|
|Russia||143,964.709||1,649||4,345||11,461||30,198||1.8%||$460,300 million||$1,089,144 bn||$414.0 bn||$336.8 bn||$212.7 bn||99.7%||72.7||0.816 (very high)|
|India||1,367,089.879||2,957||11,413||2,188||8,443||8.2%||$401,790 million||$1,106,702 bn||$616.0 bn||$303.4 bn||$426.8 bn||72.1%||68.8||0.640 (medium)|
|China||1,415,045.928||14,172||27,449||10,099||19,559||6.7%||$3,109,700 million||$3,320,652 bn||$2,031.0 bn||$2,157.0 bn||$1,731.0 bn||96.4%||76.4||0.752 (high)|
|South Africa||57,398.421||386||819||6,609||14,042||0.7%||$50,722 million||$221,990 bn||$95.27 bn||$78.25 bn||$80.22 bn||94.3%||63.6||0.699 (medium)|
|Average||627,060,914||3,653.7||8,119.9||7,422||19,041||3.2%||$1,003.970 million||$1,428,022 bn||$800.574 bn||$562.94 bn||$446.68 bn||93%||71.2||0.711 (high)|
Afghanistan, Argentina, Indonesia, Mexico and Turkey have expressed strong interest in full membership of the BRICS, while Egypt, Iran, Nigeria, Sudan, Syria and most recently Bangladesh and Greece have also expressed interest in joining BRICS.
Currently, there are two components that make up the financial architecture of BRICS, namely, the New Development Bank (NDB) or sometimes referred to as the BRICS Development Bank and the Contingent Reserve Arrangement (CRA). Both of these components were signed into treaty in 2014 and became active in 2015.
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank operated by the BRICS states. The bank's primary focus of lending will be infrastructure projects with authorized lending of up to $34 billion annually. South Africa will be the African Headquarters of the Bank named the "New Development Bank Africa Regional Centre". The bank will have starting capital of $50 billion, with capital increased to $100 billion over time. Brazil, Russia, India, China and South Africa will initially contribute $10 billion each to bring the total to $50 billion.
The BRICS Contingent Reserve Arrangement (CRA) is a framework for providing protection against global liquidity pressures. This includes currency issues where members' national currencies are being adversely affected by global financial pressures. It is found that emerging economies that experienced rapid economic liberalization went through increased economic volatility, bringing uncertain macroeconomic environment. The CRA is generally seen as a competitor to the International Monetary Fund (IMF) and along with the New Development Bank is viewed as an example of increasing South-South cooperation. It was established in 2015 by the BRICS countries. The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed at Fortaleza, Brazil on 15 July 2014. With its inaugural meetings of the BRICS CRA Governing Council and Standing Committee, held on September 4, 2015, in Ankara, Turkey it entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.
At the 2015 BRICS summit in Russia, ministers from BRICS nations, initiated consultations for a payment system that would be an alternative to the SWIFT system. Russian Deputy Foreign Minister Sergey Ryabkov stated in an interview, "The finance ministers and executives of the BRICS central banks are negotiating ... setting up payment systems and moving on to settlements in national currencies. SWIFT or not, in any case we’re talking about ... a transnational multilateral payment system that would provide greater independence, would create a definite guarantee for BRICS."
The Central Bank of Russia (CBR) also started consultations with BRICS nations for a payment system that would be an alternative to the SWIFT system. The main benefits highlighted were backup and redundancy in case there were disruptions to the SWIFT system. The Deputy Governor of the Central Bank of the Russia, Olga Skorobogatova stated in an interview, "The only topic that may be of interest to all of us within BRICS is to consider and talk over the possibility of setting up a system that would apply to the BRICS countries, used as a backup."
China has also initiated development of their own payment system called CIPS that would be an alternative to the SWIFT system. The Cross-Border Inter-Bank Payments System (CIPS) is a planned alternative payments system to SWIFT which would provide a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.
In 2012, Hu Jintao, the then President of China and Paramount leader, described the BRICS countries as defenders and promoters of developing countries and a force for world peace. Western analysts have highlighted potential divisions and weaknesses in the grouping, including significant economic instabilities, disagreements between the members over UN Security Council reform, and India and China's disputes over territorial issues.
In June 2015, Jim Rogers said that he does not see any current alternative to the US dollar and that "The world needs something to compete with the US-dominated institutions, some of them - the World Bank and the IMF. So, if BRICS offer any new structures that can compete with these long-standing…institutions, it will be very good."
On 9 April 2013, Isobel Coleman from the Council on Foreign Relations, director of CFR's Civil Society, Markets and Democracy Program said that members of BRICS share a lack of consensus. They uphold drastically different political systems, from active democracy in Brazil to entrenched Oligarchy in Russia, and their economies are little integrated and are different in size by orders of magnitude. Also she states that the great difference in GDP, influences the reserves, for China taking up of over 41% of the contribution, which in turn leads to bigger political say within the association.
Vijay Prashad, author and the Edward Said Chair at the American University of Beirut has shed lights on the limits of the BRICS as a political and economic 'locomotive of the South', for the states concerned, according to Prashad, follow neoliberal policies. They have established neither new counter-balancing institutions nor come up with an alternative ideology. Furthermore, the BRICS project, argues Prashad, has no ability to challenge the primacy of the United States and NATO.
The group at each summit elects one of the heads of state of the component countries to serve as President Pro Tempore of the BRICS. In 2018, the pro tempore presidency is held by the president of South Africa.
|Member||Leader||Name||Foreign Ministers||Name||Finance minister||Name||Central bank governor|
|Brazil||President||Jair Bolsonaro||Minister of Foreign Affairs||Ernesto Araújo||Minister of Economy||Paulo Guedes||Roberto Campos Neto|
|China||President||Xi Jinping||Minister of Foreign Affairs||Wang Yi||Minister of Finance||Liu Kun||Yi Gang|
|India||Prime Minister||Narendra Modi||Minister of External Affairs||Sushma Swaraj||Minister of Finance||Arun Jaitley||Shaktikanta Das|
|Russia||President||Vladimir Putin||Minister of Foreign Affairs||Sergei Lavrov||Minister of Finance||Anton Siluanov||Elvira Nabiullina|
|South Africa||President||Cyril Ramaphosa||Minister of International Relations and Cooperation||Lindiwe Sisulu||Minister of Finance||Tito Mboweni||Lesetja Kganyago|
The 2018 BRICS summit is the tenth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states Brazil, Russia, India, China and South Africa. The summit was held in Johannesburg, South Africa, the second time the South Africa has hosted the summit after the 2013 summit.Partnership on New Industrial Revolution (PartNIR):
It is a programme of partnership among BRICS nation that will focus on Maximising the opportunities arising from the fourth industrial revolution/New Industrial Revolution.
It was formed at the 10th BRICS summit in Johannesburg3rd BRICS summit
The 2011 BRICS summit (Chinese: 金砖国家领导人第三次会晤) took place in Sanya on the island of Hainan, China, on 14 April 2011. This was the third BRICS summit since 2009. The meeting took place between the five heads of state/heads of government from the BRICS states following bilateral meetings in the prior days.4th BRICS summit
The 2012 BRICS summit was the fourth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states Brazil, Russia, India, China and South Africa. The summit was held at Taj Hotel in New Delhi, India on 29 March 2012 and began at 10:00 Indian Standard Time. This is the first time that India has hosted a BRICS summit. The theme of the summit was "BRICS Partnership for Global Stability, Security and Prosperity".5th BRICS summit
The 2013 BRICS summit was the fifth annual BRICS summit, an international relations conference attended by the head of states or heads of government of the five member states Brazil, Russia, India, China and South Africa. The summit was held in Durban, South Africa in 2013. This completed the first cycle of BRICS summits.6th BRICS summit
The 6th BRICS summit was the sixth annual diplomatic meeting of the BRICS, a grouping of major emerging economies that includes Brazil, Russia, India, China and South Africa. It was hosted by Brazil, as the first host country of the current five-year summit cycle; the host city was Fortaleza. Though Brazil had previously hosted a four-member BRIC summit in April 2010, 2014 marked its first full BRICS summit; the 2010 summit in Brasília did not officially include South Africa, who were only invited as guests as a prelude to their gaining full membership in December 2010. Argentine President Cristina Kirchner was a special guest of the summit, and the BRICS leaders met with their UNASUR counterparts shortly after. The 6th BRICS summit resulted in the official inauguration of the New Development Bank, a multilateral development bank intended as an alternative to the World Bank and International Monetary Fund.8th BRICS summit
The 2016 BRICS summit was the eighth annual BRICS summit, an international relations conference attended by the heads of country or heads of government of the five member countries Brazil, Russia, India, China and South Africa. The summit was held from 15 to 16 October 2016 at the Taj Exotica hotel in Benaulim, Goa, India. India holds the chair of the BRICS from February 2016 to December 2016.9th BRICS summit
The 2017 BRICS summit was the ninth annual BRICS summit, an international relations conference attended by the heads of state or heads of government of the five member states Brazil, Russia, India, China and South Africa. The summit was held in Xiamen, China, the second time the China has hosted the summit after the 2011 summit.BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development. It is typically rendered as "the BRICs" or "the BRIC countries" or "the BRIC economies" or alternatively as the "Big Four". A related acronym, BRICS, adds South Africa.
There are arguments that Indonesia should be included into grouping, effectively turning it into BRIIC or BRIICS.Previously BRIC was coined by Jim O'Neill in 2001 as an acronym of four countries that were all deemed to be at a similar stage of newly advanced economic development, but in 2009 the leaders of BRIC countries made the first summit and in 2010 BRIC became a formal institution. South Africa began efforts to join the BRIC grouping and on December 24, 2010, was invited to join BRICS. The original aim of BRIC was the establishment of an equitable, democratic and multi-polar world order, but later BRIC became a political organization, especially after South Africa joined. Jim O'Neill, told the summit that South Africa, at a population of under 50 million people, was just too small as an economy to join the BRIC ranks.But the future of BRIC as an economy group is questionable. In 2012, a book with the title Breakout Nations mentioned that it is hard to sustain rapid growth for more than a decade.Brazil–Russia relations
Brazil–Russia relations (Russian: Российско-бразильские отношения or Бразильско-российские отношения, Portuguese: relações entre Brasil e Rússia) have seen a significant improvement in recent years, characterized by an increasing commercial trade and cooperation in military and technology segments. Today, Brazil shares an important alliance with Russia, with partnerships in areas such as space and military technologies as well as telecommunications.
According to a 2017 Pew Global Attitudes Project survey, 35% of Brazilians have a favorable view of Russia, with 36% expressing an unfavorable view.Emerging market
An emerging market is a country that has some characteristics of a developed market, but does not satisfy standards to be termed a developed market. This includes countries that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". The economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. The four largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries (Brazil, Russia, India and China).Galgotias University
Galgotias University is a private university in Greater Noida, Uttar Pradesh, India. It is recognized by the University Grants Commission (UGC).India women's national under-17 football team
The Indian women's national under-17 football team represents India in international women's under-17 football. The team is controlled by the governing body for football in India, the All India Football Federation (AIFF). The team and federation is currently a member of the Asian Football Confederation (AFC) and the regional South Asian Football Federation (SAFF).
The team have only participated once in the AFC U-17 Women's Championship, back during the tournament's inaugural edition.Jim O'Neill, Baron O'Neill of Gatley
Terence James O'Neill, Baron O'Neill of Gatley (born 17 March 1957) is a British economist best known for coining BRIC, the acronym that stands for Brazil, Russia, India, and China—the four rapidly developing countries that have come to symbolise the shift in global economic power away from the developed G7 economies. He is also a former chairman of Goldman Sachs Asset Management and former Conservative government minister. As of January 2014, he is an Honorary Professor of Economics at the University of Manchester. He was appointed Commercial Secretary to the Treasury in the Second Cameron Ministry, a position he held until his resignation on 23 September 2016. Since 2008, he has written monthly columns for international media organization Project Syndicate.List of BRICS summit attendees
This is a list of representative leaders of BRICS states at each BRICS Summit since the group's inception in 2009. The group consists of the five countries, Brazil, Russia, India, China and South Africa. BRICS holds an annual summit, which each state or government leader attends. Each year the heads of government take turns assuming the presidency, whose job it is to set the agenda for, and host, the annual summit.
The group was formed as BRIC, including all of today's members minus South Africa. South Africa joined in the third year of the group's existence, 2011, forming BRICS.New Development Bank
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa). According to the Agreement on the NDB, "the Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments." Moreover, the NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank."The initial authorized capital of the bank is $100 bln divided into 1 mln shares having a par value of $100,000 each. The initial subscribed capital of the NDB is $50 bln divided into paid-in shares ($10 bln) and callable shares ($40 bln). The initial subscribed capital of the bank was equally distributed among the founding members. The Agreement on the NDB specifies that the voting power of each member will be equal to the number of its subscribed shares in the capital stock of the bank.
The bank is headquartered in Shanghai, China. The first regional office of the NDB is in Johannesburg, South Africa.QS World University Rankings
QS World University Rankings is an annual publication of university rankings by Quacquarelli Symonds (QS). Previously known as Times Higher Education–QS World University Rankings, the publisher had collaborated with Times Higher Education (THE) magazine to publish its international league tables from 2004 to 2009 before both started to announce their own versions. QS then chose to continue using the pre-existing methodology while Times Higher Education adopted a new methodology to create their rankings.
The QS system now comprises the global overall and subject rankings (which name the world's top universities for the study of 48 different subjects and five composite faculty areas), alongside five independent regional tables (Asia, Latin America, Emerging Europe and Central Asia, the Arab Region, and BRICS).Being the only international ranking to have received International Ranking Expert Group (IREG) approval, the QS ranking is viewed as one of the three most-widely read university rankings in the world, along with Academic Ranking of World Universities and Times Higher Education World University Rankings. However, it has been criticized for its overreliance on subjective indicators and reputation surveys, which tend to fluctuate over the years. Concern also exists regarding the global consistency and integrity of the data used to generate QS ranking results.Russia–South Africa relations
Russia–South Africa relations (Russian: Российско-южноафриканские отношения) are foreign relations between Russia and South Africa. Full diplomatic relations were established between both countries on February 28, 1992. Russia has an embassy in Pretoria and a consulate-general in Cape Town. South Africa has an embassy in Moscow. Both countries are also members of BRICS.Times Higher Education World University Rankings
Times Higher Education World University Rankings is an annual publication of university rankings by Times Higher Education (THE) magazine. The publisher had collaborated with Quacquarelli Symonds (QS) to publish the joint THE–QS World University Rankings from 2004 to 2009 before it turned to Thomson Reuters for a new ranking system. The publication now comprises the world's overall, subject, and reputation rankings, alongside three regional league tables, Asia, Latin America, and BRICS & Emerging Economies which are generated by different weightings.
THE Rankings is often considered as one of the most widely observed university rankings together with Academic Ranking of World Universities and QS World University Rankings. It is praised for having a new, improved ranking methodology since 2010; however, undermining of non-science and non-English instructing institutions and relying on subjective reputation survey are among the criticism and concerns.Xavier Institute of Management and Entrepreneurship
Xavier Institute of Management and Entrepreneurship (XIME) is a private business school with three fully residential campuses, in Bangalore, Kochi and Chennai, all in India. The Institute pioneered the Association of BRICS Business Schools (ABBS, estd 2008) which is a platform for management education in Brazil, Russia, India, China and South Africa.XIME arranges international events in collaboration with seventeen partner institutions around the globe, including campus exchange programmes, faculty exchange programmes and an international study tour for its students. XIME took the initiative in formation of Association of BRICS Business Schools (ABBS), thus bringing together Brazil, Russia, India, China and South Africa.