BRICS Summit 2026: 5 facts you probably didn't know about the powerful bloc - check here

India is hosting the 18th BRICS Summit in New Delhi, bringing leaders of the expanded BRICS grouping together at a time when the bloc is playing an increasingly important role in global affairs. India assumed the BRICS chairship in 2026 and is leading this year's summit and related meetings.

BRICS has grown far beyond its original four-country identity. But behind the high-profile summits and geopolitical discussions are several lesser-known facts about how the grouping originated and how it operates.

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Here are 5 BRICS facts you probably didn't know:

1. The term “BRIC" was coined by an economist, not a government

The word BRIC did not originally come from the governments of Brazil, Russia, India or China. It was coined by British economist Jim O'Neill, then chief economist at Goldman Sachs, in a 2001 research paper.

O'Neill used “BRIC” to describe Brazil, Russia, India and China as four major emerging economies with the potential to play a much larger role in the global economy.

At the time, BRIC was primarily an economic and investment concept rather than a political organisation. The four countries later adopted the idea and began holding political summits, with the first BRIC leaders' summit taking place in 2009. South Africa joined in 2010, turning BRIC into BRICS.

2. BRICS is not a formal military or political alliance

Despite its growing geopolitical importance, BRICS is not a military alliance like NATO, nor is it a formal political bloc with a common foreign policy.

Instead, it is an intergovernmental grouping that provides a platform for cooperation on areas including trade, finance, development, technology, health and global governance.

Its members can and often do have different positions on international issues. This is one reason BRICS is better understood as a forum for cooperation among emerging and developing economies rather than a traditional alliance.

The diversity within the expanded grouping is particularly significant today, with members including countries from Asia, Africa, the Middle East and Latin America.

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3. BRICS has its own development bank

One of BRICS' most significant institutional achievements is the New Development Bank (NDB), sometimes referred to as the BRICS Development Bank.

The bank was established by the five original BRICS members, Brazil, Russia, India, China and South Africa, to finance infrastructure and sustainable development projects.

Its headquarters are in Shanghai, China. The NDB has also established regional offices in Johannesburg, São Paulo, Ahmedabad and Moscow, giving it a presence across several founding member countries.

The bank is intended to complement existing international financial institutions by supporting development projects in member and other eligible countries.

4. BRICS represents nearly half of the world's population

BRICS has become significantly larger since its original formation. In 2026, the grouping comprises 11 full members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates, Indonesia and Saudi Arabia.

Using the latest 2026 population estimates based on the UN World Population Prospects, these 11 BRICS countries together have a population of approximately 4.01 billion people. The world's population is estimated at 8.30 billion, meaning BRICS members account for roughly 48.3% of the global population almost one in every two people on Earth.

The figures are based on the 2024 edition of the UN World Population Prospects, with post-2023 figures treated as projections.

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5. What is a BRICS Sherpa?

A BRICS Sherpa is a senior government official who represents a member country in the detailed negotiations and preparatory work leading up to the BRICS leaders' summit.

The term “Sherpa” comes from the Himalayan Sherpa people, traditionally known for guiding climbers in the mountains. In international diplomacy, the term is used for officials who prepare the ground for leaders' meetings.

While heads of government make the major political decisions at the summit, Sherpas work behind the scenes on drafting documents, negotiating positions, coordinating discussions and building consensus among member countries.

In other words, the BRICS Sherpa helps ensure that issues are worked out at the official level before they reach the leaders' table.