The BRICS have in the past decade shaken the world economy with their remarkable growth. Their share in the world GDP grew from 11 percent in 1990 to 25 percent in 2011. | A study of Brics nation being the real growth drivers of world economy International Journal of Management IJM Volume 8 Issue 2 March April 2017 198 Article ID IJM_08_02_020 Available online at http ijm JType IJM amp VType 8 amp IType 2 Journal Impact Factor 2016 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication A STUDY OF BRICS NATION BEING THE REAL GROWTH DRIVERS OF WORLD ECONOMY Rashmi Mishra Research Scholar Lalit Narayan Mithila University Darbhanga Bihar India Dr. . Thakur Professor Retd. University Prof of Commerce amp Ex Dean of the Faculty of Commerce Lalit Narayan Mithila University Darbhanga Bihar India ABSTRACT The BRICS have in the past decade shaken the world economy with their remarkable growth. Their share in the world GDP grew from 11 percent in 1990 to 25 percent in 2011. However much of this success could be attributed to China and India. While China indulged in investment based growth model India was reaping the benefits of its economic liberalization. Meanwhile Russia earned from the energy needs that China s growth had created and Brazil attacked its own macroeconomic woes for a faster growth. South Africa however sneaked into the group and has been the one most lagging behind. The question which this report attempts to address is whether these nations are still the growth drivers of the world. There are several factors which suggest that even though these economies might continue to grow they cannot recreate the magic with their remarkable growth in 2000s. That period saw an unprecedented growth partly because of the surge in the growth of these countries owing to reasons inherent to their economies and partly due to the sluggish growth of the richer economies. That was the period when they witnessed the major sub-prime crisis of which the BRICS to some extent were shielded. The room to catch-up is now low. The challenges which each of the BRICS is
