The BRICS Alliance - India

The Brics - India Name Institution The Country Brazil, Russia, India, China, and South Africa came together and formed the popular BRIC alliance. The alliance held its first summit in 2009 and enforced their main aim to be economical and social development. One of the factors that led the five countries to join together was that they were all newly industrialized and they at the same period looking for maximizing trade and development. All the members have made it to the top 25 of the world population. Combination of the five nations makes BRICS boast of about 40% of the world's population and a strong 30% of the world GDP allying a critical economic engine. Like many other organizations and alliances, BRICS has diversified into other activities, especially in the field of political governance, financial, economic and the general multispectral cooperation. The activities, news, and propaganda that come with the new alliance were just enough for the newsrooms, newspapers and money magazines. However, with time, there has been a decline of activities, and it is not business as usual for the magazines anymore since there is no creditworthy news to write about, as some of the earlier mentioned goals seem to have been achieved. The member countries are densely populated; China has in two decades jumped from a developing world to become the second largest economy it is observed as the factory of the world. Brazil, on the other hand, is one of the main exporters of numerous natural resources. Russia is unmistakably one of the key drivers of the world economy as it has held the top position in petroleum products and defense manufacturing. South Africa is a key gateway to the African region. The world third largest economy in the world, India is emerging as an investment global and market power bloc. It is today one of the most sought out regions for investment. Both domestic and foreign investors have made the region one of the robust markets and the future of the country is prophesied to be profitable for both. BRICS members have grown tremendously economically with special case observed in China as the nation experience phenomenal growth in a very short duration. Members also share another aspect when it comes to governance as they all inhibit stark inequality. A common observable characteristic among the member states is that the realized economic growth has not been able to eliminate poverty. Russia and Brazil have been affected by the crash in prices of natural resources. Recently, China has been grappling with a slowdown that was never experienced in the past three decades. China debt issues threaten to be a factor for the next global economic recession, making the future of the billion plus people at risk of getting poor. However, among the BRICS members, India is observed to be inhibiting positive economic prospects. The liberalization of the Indian's economy started more than 25 years ago through the amazing leadership of the then leader P.V. Narasimha Rao. Despite critics from his government, he reduced the power of the state and unleashed market linked reforms. Atal Behari Vajpayee took from Narasimha and continued the development work by undertaking wise reforms. He led to the development of many sectors ranging from telecom to...