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News: The Ministry of External Affairs announced that PM Narendra Modi will be visiting Russia to attend the BRICS Summit.
1. BRICS is an acronym for Brazil, Russia, India, China, South Africa, which are five major emerging economies.
2. It aims to foster collaboration and dialogue among members on various global issues, including economic growth, development and political cooperation.
3. Its membership was expanded in 2024 to include Iran, Egypt, Ethiopia, Saudi Arabia, and UAE, to be now known as BRICS+.
4. BRICS has emerged as a potential voice of the Global South, especially with the expansion of membership.
5. Global South is a term used to refer to countries in Central and South America, Africa, Asia (excluding Israel, Japan and South Korea) and Oceania (excluding Australia and New Zealand) that are often characterized by lower level of economic development compared to the wealthier nations in the Global North (such as North America, Europe).
6. Brandt Line is often used as a visual representation to divide the world into two distinct economic regions: the Global North and the Global South.
