New Delhi, Sept. 10 -- Congress general secretary in-charge communications Jairam Ramesh on Thursday traced the evolution of BRICS from an economic acronym coined by British economist Jim O'Neill in 2001 to a major grouping of emerging economies, while highlighting former Prime Minister Manmohan Singh's contribution to the creation of the BRICS Development Bank.
In a post on social media platform X, Ramesh recalled that "twenty-five years ago in November 2001", O'Neill, then with investment bank Goldman Sachs, published his influential report Building Better Global Economic BRICs. The report coined the term "BRIC" for Brazil, Russia, India, and China and projected that the four economies would emerge as dominant forces in the global econom...