India, Sept. 10 -- The 18th BRICS Summit will take place in New Delhi on September 12 and 13. When BRICS came into shape -- its first conference was held in Russia in 2009 with Brazil, Russia, India and China participating; South Africa joined from 2010 onwards -- the world was a very different place from what it is today. The Cold War had ended just about a decade ago and globalization was truly on the rise. The period before BRICS came into being was also one of rapid economic convergence with emerging market economies catching up with their advanced economy peers in a big way. What has happened to the global economic convergence story? How relevant is a group like the BRICS today?

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