How did the BRICS form and develop? BRICS is a grouping acronym referring to the initials of the five emerging national economies – namely, Brazil, Russia, India, China and South Africa. The name of the association evolved from the term BRIC coined by Jim O’Neill from Goldman Sachs in 2001. O’Neill wanted to signal that much of the world’s economic growth would soon be generated by Brazil, Russia, India and China. In 2009, leaders from the four countries held their first meeting in Russia and vo