BRIC summit preparatory meet in New Delhi

The two-day BRIC preparatory meet began in the national capital, New Delhi on Wednesday to prepare the agenda for the first BRIC summit to be held in June 2009. The international financial giant Goldman Sachs referring to the fast growing economies of Brazil, Russia, India and China coined the term BRIC in 2001. Shiv Shankar Menon, Indian foreign secretary, spoke at length about the BRIC nations and praised the way it had shaped up since its inception in 2001.