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In the backdrop of the BRICS summit in South Africa lies the claim that G7 is now playing second-fiddle to these emerging economies. Brazil, Russia, India, China and South Africa officially surpassed the G7 in terms of their share to the global GDP. ‘BRIC’ was originally coined in 2001 by noted economist Jim O’Neill, reportedly when he was looking for a snappy acronym. The rapid rise of BRICS economies has led to many experts calling it a global power bloc, but many believe otherwise. Watch the video to find out more. #brics, #modibrics, #xibrics, #modixi, #bricsg7, #bricsg7gdp, #bricsg7g20 Times Now - Times Now News channel examines news with in-depth analysis. We provide much more than the Get Breaking news, the Latest news, Politics news, of the day. Times Network houses upscale television channels. Times Network takes the lead with its ground-breaking innovation and disruption of a new content category. The Times Network channels, which have a global footprint in 100 countries, inform, entertain, and engage viewers of all ages with fascinating and intriguing content, news, and information. Subscribe to our channel - / @timesnow Check out our website: https://www.timesnownews.com Facebook: / timesnow Twitter: / timesnow Instagram: / timesnow You can Search us on YouTube by- live,live news,,english news,times live, live tv, latest news, breaking news, today news, world news, world news live, today world live news , uk news, us news , us news live , russia war news russia news live, ukraine news @timesnow