With reference to the BRICS grouping, consider the following statements:1.BRICS countries account for a substantial portion of the world's GDP and trade volume.2.BRICS is seen as a geopolitical force that aims to reform global institutions, challenge existing power dynamics, and address the concerns of developing nations on international platforms.3.The New Development Bank (NDB) was established by BRICS member countries with an emphasis on providing funding for space exploration projects.How many of the above statements are correct?

Q. With reference to the BRICS grouping, consider the following statements:
1.BRICS countries account for a substantial portion of the world’s GDP and trade volume.
2.BRICS is seen as a geopolitical force that aims to reform global institutions, challenge existing power dynamics, and address the concerns of developing nations on international platforms.
3.The New Development Bank (NDB) was established by BRICS member countries with an emphasis on providing funding for space exploration projects.
How many of the above statements are correct?

[A] Only one

[B] Only two

[C] All three

[D] None

Answer: B

Notes:

Statements 1 and 2 are correct. BRICS countries account for a substantial portion of the world’s GDP and trade volume. BRICS is seen as a geopolitical force that aims to reform global institutions, challenge existing power dynamics, and address the concerns of developing nations on international platforms.

Statement 3 is incorrect. The New Development Bank (NDB) is also known as the BRICS Bank. It was established by BRICS member countries, focuses on financing infrastructure and sustainable development projects in emerging economies, providing an alternative to traditional lending institutions like the World Bank and the International Monetary Fund.

Source: ForumIAS

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