From Business Standard

The five-member block of emerging economies, BRICS, should consider drawing Kenya into its fold to become ‘BRICKS’, World Bank’s Chief Economist and India’s former Chief Economic Advisor Kaushik Basu has said.

Originally this grouping was known as BRIC, after global financial giant Goldman Sachs’ Jim O’Neill coined this term in 2001 for Brazil, Russia, India and China, for being the four most important emerging economies of the world.

A few years ago, South Africa was included into this grouping and it became BRICS.

“BRICS should think seriously of drawing Kenya into its ranks and correcting the annoying spelling mistake that it is,” Basu has tweeted.

Basu became Senior Vice-President for Development Economics and World Bank Chief Economist in October 2012 and prior to that he was Chief Economic Advisor to the Government of India.

Basu, a well-known expert on Indian and other emerging economies, is currently on leave from his position and is serving as Professor of Economics and the C Marks Professor of International Studies at Cornell University.

Earlier he was also Professor of Economics at the Delhi School of Economics.

Earlier last month, Basu said that among the BRICS in 2013 and this year, China has had the “fastest growth and India the fastest growth of growth–the only country where the growth rate grew.”

Read more at Business Standard