New Delhi, Sept. 9 -- Twenty years after its formation, BRICS has acquired enormous economic weight and a growing institutional footprint. Twenty years after the BRIC grouping took shape, BRICS has become one of the clearest institutional expressions of the changing global economy.

What began as an acronym coined by Goldman Sachs to describe four emerging economies - Brazil, Russia, India and China - has evolved into a broader grouping with considerable economic and geopolitical weight. Its expansion has also changed the nature of the organisation: from an informal economic conversation among emerging powers into a platform that increasingly addresses trade, finance, development, technology, supply chains and the architecture of global g...