The recent conference of BRICS nation being held in India is one of the most significant international conferences. All the five countries are playing key role in the international growth since last few years and have been significantly impacting the Global policies on Trade & Economics. These Countries have upgraded themselves to a new level and they are no more the obedient followers of Western World. The stand taken by these five relating Oil procurement from Iran may be a concerning point for USA who has been forcing all Nations to boycott oil buying from Iran.50% of the Global growth is being contributed by these five Nations since last three years . But flip side is that these Countries continue to fight against each other for attracting foreign investment and increasing global trade share. BRIC was started in 2001 and after joining of South Africa in 2010 it became BRICS . Efforts is being made to encourage us of local currency as against the fully converatble curency like USD. Efforts is also to set of Bank in line with the World Bank to be promoted by these five Nation for the developmennt BRICS Nation.
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