As it prepares to hold its latest annual summit in New Delhi on March 28-29, the BRICS grouping — Brazil, Russia, India, China, and South Africa — remains a concept in search of a common identity and institutionalized cooperation.
That is hardly surprising, given that these countries have very different political systems, economies and national goals, and are located in very different parts of the world. Yet the five emerging economies pride themselves on forming the first important non-Western global initiative.
The lack of common ground among the BRICS has prompted cynics to call the grouping an acronym with no substance.