what is the meaning of BRIC or Abbrevation of BRIC?

General consensus is that the term was first prominently used in a thesis of the Goldman Sachs investment bank. The main point of this 2003 paper was to argue that the economies of the BRICs are rapidly developing and by the year 2050 will eclipse most of the current richest countries of the world. Finally, because of the popularity of the Goldman Sachs thesis “BRIC” and “BRIMC” (M for Mexico), these terms are also extended to “BRICS” (S for South Africa), “BRICA” (GCC Arab countries – Saudi Arabia, Qatar, Kuwait, Bahrain, UAE) and “BRICET” (including Eastern Europe and Turkey) have become more generic marketing terms to refer to these emerging markets.