Subhechcha Ganguly 
Members of the BRICS (Brazil, Russia, India, China, and South Africa) announced on Thursday that the organisation would be expanding by accepting six more nations. The accession of new members would strengthen the group and boost trust in the idea of a multipolar world order, Prime Minister Narendra Modi said in making the announcement at the conclusion of the 15th BRICS summit in Johannesburg.
From January 1 of the next year, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates are asked to join as full members.It now claims to be working to build a stronger group of developing countries that can better advance the causes of the Global South.
Prior to the meeting, which is taking place in Johannesburg, South Africa, media sources highlighted Chinese officials who suggested that the BRICS should unite to compete with the G7.
In order to lessen their reliance on changes in the dollar exchange rate, the president of Brazil called on the BRICS countries to establish a single currency for trade and investment.
There are still many obstacles for the BRICS nations to clear before challenging the dominance of the US dollar, even though the idea of starting trade in local currencies or creating a new currency has gained support.More than 40 nations had indicated interest in joining BRICS before the commencement of its annual meeting in South Africa this week, and 23 had formally registered to join.
