BRICS (Brazil, Russia, India, China, and South Africa) is one of the major platforms of the five emerging economies, aiming at promoting peace, security, inclusive development and cooperation. The platform represents 43% of the world’s total population and 30% of the global Gross Domestic Product (GDP). Since its establishment against the backdrop of the 2008 global financial crisis, as a potential alternative to G7 platform. The BRICS has grown substantially as an effective platform to articulate views of countries in the Global South as at least one country is present from every different continent across the region. Economy, being in focus point of the grouping, the initial decade of BRICS has advanced coordinated policy initiatives in the field of global economic governance.