India, China and a Mightier BRICS: Winners All Around, Except the West – News18

As of August 24, 2023, in its 15th summit since the first in 2009, BRICS will not be the same. It is a momentous occasion for the grouping of emerging economies as six new members have been invited to join an expanded BRICS. These include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE. This turns the bloc into an overwhelming force with six of the top nine oil-producing countries. The assault on the petro-dollar cannot be stressed enough. With the new members, BRICS shall now form 37 per cent of the global GDP, up from 31.5 per cent in…