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The Science, Technology and Innovation Ministers of the BRICS grouping (Brazil, Russia, India, China, and South Africa) met on November 13 evening through a virtual platform to discuss S & T cooperation among the member countries.

Highlights

• The Ministry of Science and Higher Education of Russia organized the meeting, Russian Federation being the Chair for the 12th BRICS Summit.
• Recently ‘SERB–POWER’ (Promoting Opportunities For Women in Exploratory Research) scheme has been launched to encourage and support emerging as well as eminent women researchers to undertake R&D activities in frontier areas of science and engineering. 
• India will actively contribute in the implementation of BRICS STI Calendar of Activities 2020-21 and supports continuation scientific activities under BRICS MOU on Science, Technology and Innovation.

What is BRICS?

BRICS is an acronym for Brazil, Russia, India, China, and South Africa. Goldman Sachs economist Jim O'Neill coined the term BRIC (without South Africa) in 2001, claiming that by 2050 the four BRIC economies would come to dominate the global economy by 2050. South Africa was added to the list in 2010.

This thesis became conventional market wisdom in the aughts. But there were always skeptics, including some who claimed the phrase was Goldman marketing hype. Indeed, few talk about BRICS much anymore—at least not in terms of their global domination. Goldman closed its BRICS-focused investment fund in 2015, merging it with a broader emerging markets fund.

Source: Newsonair