In the economic world, BRICS is a grouping acronym that refers to the countries of Brazil, Russia, India, China and South Africa. These countries are all known to be at the beginning of newly advanced economic development. The acronym was created by Jim O'Neill in a 2001 paper entitled "Building Better Global Economic - BRICS". The acronym has come into worldwide use as a symbol of the shift in global economic power away from the developed G7 economies towards the developing world. G7 countries are existing nations with well-developed economies. It is estimated that the BRICS economies will overtake G7 economies by 2050. Although there is argument of whether South Africa should be included in the BRIC countries due to its population of 50 million, it was still included. China and India, predictively, will become the dominant global suppliers of manufactured goods and services, while Brazil and Russia will become similarly dominant as suppliers of raw materials. .

             India is the second largest country with a population of over 1.2 billion people. The country thrives off of small businesses headed by poor families trying to make a living and to support their families. In the past decade however, India has made it clear they want to expand their horizons. This idea is not favored with everyone due to the fear of forgetting India's roots and traditions to the modern way (or Western way). It is also causing a stir about the decline in profit to small businesses. .

             The value of Indian economic output in 2012 will be $1.95 trillion and $2.12 trillion in 2013. That makes it one of the 10 largest economies in the world. India has already overtaken several rich countries such as Canada as far as the size of its economy goes. But faster economic growth is important as well as creating a robust economy that offers many opportunities to 1.2 billion Indians. The way to ensure this is not temporary; it's monetary and fiscal stimulus.