Context: The five new candidates of BRICS formally became members on January 1, 2024.

Introduction of New Members to BRICS:

Expansion of BRICS: The inclusion of five new members, namely Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates, marks a significant enlargement of the BRICS alliance.

Argentina's Withdrawal: Argentina has opted to retract its initial decision to join the expanding BRICS group of nations.

Importance: This expansion represents a noteworthy shift in the global landscape, highlighting the increasing trend towards multipolarity.

BRICS Summit 2024: The upcoming BRICS summit in Russia, scheduled for October 2024, is poised for a substantial transformation as it broadens its membership to encompass five additional nations, alongside the original founding members: Brazil, Russia, India, China, and South Africa.