BRIC (Brazil, Russia, India & China)

BRIC is an acronym used in the context of business and procurement to refer to Brazil, Russia, India and China. These four countries are considered to be rapidly developing nations, offering a range of potential business opportunities, from sourcing materials to expanding market share. By incorporating these countries into procurement strategies, businesses can increase their global footprint and achieve strategic objectives. BRIC is an important concept for businesses to understand in order to take advantage of the benefits these countries offer.