The Role of India towards Economic-Growth and Development of BRICS Member Countries

Abstract

BRICS is one of the Membership Based Organisations which encompasses Brazil, Russia, India China and South Africa accordingly. Thus, the Acronym BRICS entails the initial of the aforementioned countries who come together thereby contributing economic quota by each member in order to accomplished certain goals and objectives. This paper explored the roles of India as a member country towards enhancing the economic growth and development of member states. In an attempt to do so, the paper employed Theory of International Economic Cooperation in its Theoretical Framework of Analysis. Notwithstanding, the paper adopted Content analysis otherwise known as documentary analysis in its methods of data collection. However, statistical data were collected, presented and analysed for empirical purposes. The paper concluded that, the role played by the Department of Economic Affairs, Ministry of Finance, Government of India which coordinated a Joint BRICS Study on the “State of World Economy and the Role of the BRICS countries has yielded a great impact on economic growth and development of the member countries.