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Analysis Study Research Paper | Economics | India | Volume 12 Issue 4, April 2023 | Popularity: 5 / 10

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The BRICS Countries: Trends of Demographic and Economic Development

B Suresh Lal

Abstract: This paper examines how important the BRICS countries are to the world economy as emerging market nations. Together, these countries account for 41% of the global population, 24% of the global GDP, and more than 16% of global commerce; BRICS is a significant organisation that brings together the most prominent emerging economies worldwide. Over the years, the BRICS nations have been the primary drivers of global economic development. It focussed on the two decadal (2000-2020) growth and development patterns in different demographic and economic facets. It is important to note that the BRICS group fared far better economically than industrialised nations and was not significantly impacted by the global crisis. Increased input of forces and vast ranges of population and resources were the key drivers of the group's economic growth. China benefits from having inexpensive labour and resources. India, too relies on a cheap labour force. The study analysed at a variety of factors, including demographics fertility rate, population growth, total population, life expectancy, and workforce. Economic development GDP, per capita income, export and import, drugs, health, information technology (IT) service expenditures, automobiles, electronics spending, and public opinion on artificial intelligence (AI). The BRICS nations might soon rival the G7 in terms of leadership as they explore different resources for economic development.

Keywords: BRICS, population, economic development, automobile, artificial intelligence

Edition: Volume 12 Issue 4, April 2023

Pages: 702 - 708

DOI: https://www.doi.org/10.21275/SR23410201331

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