BRICS was founded in 2006 by Brazil, Russia, India and China, with South Africa joining in 2010. It has since expanded to 11 members, representing about half the world’s population and a significant share of global economic output. The group has increasingly called for greater representation for developing countries in global institutions.
It has sought to raise its profile by promoting alternatives to Western-dominated financial institutions and positioning itself as the voice of developing nations and emerging economies.
India is hosting this year's summit, attended by Russian President Vladimir Putin, Chinese President Xi Jinping, Pezeshkian and counterparts from the other eight BRICS members.
Concerns have grown that the Iran war, triggered by U.S.-Israeli strikes on Feb. 28, may expand as fighting escalated between Saudi Arabia and Yemen’s Houthi rebels. Wars in Ukraine and the Middle East, along with rising U.S.-China tensions, are also testing the bloc’s ability to find common ground among countries with competing geopolitical interests.