Manmohan Singh proposed BRICS development bank idea in 2012: Jairam Ramesh

Senior Congress leader Jairam Ramesh on Thursday highlighted former Prime Minister Manmohan Singh's role in the evolution of BRICS, recalling that he had proposed the idea of a BRICS Development Bank during India's first hosting of the summit in 2012, which later led to the establishment of the New Development Bank (NDB). In a post on X, Ramesh traced BRICS' origins, saying economist Jim O'Neill coined the term BRIC in 2001 for Brazil, Russia, India and China as emerging global economic powers. https