BRICS Plus: the prospects of integration

This research paper aims to assess whether BRICS Plus initiative ensures integration in the developing world by promoting cooperation between the regional institutions at which the BRICS countries play a leading role. There are five major areas of partnership under the BRICS Plus model. Although BRICS plus initiative promotes integration to some extent, there are risks to miss out on cooperation with other developing countries that are not members of the regional organizations mentioned in the paper. Hence, a decentralized model of economic integration would allow many other developing countries to be involved in cooperation with the BRICS and become a part of large-scale economic partnership.