Which one of the following statements about BRIC is not correct?
In the year 2009 the leaders of the BRIC countries held their first summit in Yekaterinburg
According to Goldman Sachs, the global investment banking and securities firm, the economic potential of BRIC is such that they may become among the four most dominant economies by the year 2050
BRIC countries suggests for the Doha round to be accelerated in order to find compromise solutions for radical reductions for multibillion dollar subsidies in the agricultural sector
Brazil, Russia, India and Canada are the members of BRIC
Answer is Right!
Answer is Wrong!
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UPSC CAPF – 2009
Statement B is correct. Jim O’Neill, the economist at Goldman Sachs, coined the term BRIC and made predictions about the significant economic growth and potential dominance of these countries by 2050.
Statement C is correct. BRIC/BRICS countries have consistently advocated for reforms in the global trade system and often push for the reduction of agricultural subsidies by developed nations within forums like the WTO (Doha Development Agenda).
Statement D is incorrect. BRIC is an acronym for Brazil, Russia, India, and China. Canada is not a member of this grouping. South Africa joined in 2010, expanding the group to BRICS.
Since the question asks for the statement that is *not* correct, option D is the answer.