The BRICS group is still young as an organization, but has already proven its effectiveness. Brazil, Russia, India, China, and South Africa are coordinating their policies on key international issues ever more closely, and are playing an active part in shaping a multipolar world order and developing modern models for the world’s financial and trading systems.
Planning to boost joint resources to promote high technology ventures in Russia and India, the Russian Venture Company (JSC RVK), Indian Association of technology parks and business incubators (Authority ISBA) and the Global Venture Alliance (GVA) have signed an agreement to jointly develop technological ventures for mutual benefit
The BRICS (Brazil, Russia, India, China and South Africa) nations-led New Development Bank (NDB) will raise $2.5-$3 billion in the next three years to lend to infrastructure projects in emerging markets such as India
India state cabinet has granted ex-facto approval for constitution of the functional secretariat for the Brazil, Russsia, India, China, South Africa (BRICS) summit, 2016, and to delegate all administrative and financial powers