The potential of the BRICS group of the world's major emerging economies has been rising over the years, becoming a value driver for the member states, Tribhuvan Darbari, chairman of the India-Russia Business Council, has told Sputnik.
"BRICS is an emerging platform, it has shown its value in terms of augmenting and increasing the engagement levels between the BRICS nations … People are not just coming for any political reason. It is the value which this platform drives. And because of this, the BRICS platform is emerging and becoming more potent and vibrant over the years," Darbari said in an interview on the sidelines of the EEF.
Darbari, who is also a senior official at the Federation of Indian Chambers of Commerce and Industry, predicted that India and Russia could play a critical role in promoting BRICS' "positive and vibrant leadership."
Kremlin aide Yuri Ushakov said on Wednesday that Turkey had officially applied for full membership of BRICS. The Russian official said BRICS was unlikely to accept any new members at the Kazan summit in October after the member states agreed to introduce a new status of a BRICS partner state.
BRICS was established in 2009 as a cooperation platform for the largest developing economies, uniting Brazil, Russia, India, and China. South Africa joined the group in 2010. On January 1, BRICS expanded its membership to include Egypt, Ethiopia, Iran and the United Arab Emirates. Saudi Arabia has not formalized its participation but has been taking part in BRICS meetings.