The formation of the grouping of emerging economies, Brazil, Russia, India, China and South Africa, (BRICS) is perhaps the most unique development in recent history as a new bloc of countries with diverse histories and cultures came together not based on ideology but out of an increasing concern for the well-being of the people and integrated development in economy and culture.
Though the famous economist Jim O'Neill coined the name BRICS, he never expected it to become a reality in such a short time.
Diversity perhaps is the other name for BRICS as all the five are from different cultures, languages, regions and perhaps even continents with diverse political and economic systems and varied of development and economic growth.
But the big binding factor is the economic growth and the immense potential all the five carried which perhaps in the long run may become one of the most uniquely influential blocs in shaping the international politics.
The BRICS Bank is already a reality and it is expected to be a binging factor for the new emerging bloc offering a vast scope for new infrastructure revolution with huge funding generated from within the ranks of the BRICS countries.
So many other initiatives like a host of the Ministerial meetings, followed by regular consultations and coordination at Un on major international issues backed by annual summits of leaders have ignited a new momentum of development among the BRICS members.