Move over BRIC. RIC or the troika of Russia, India and China are taking over. A regional formation will take up international issues like the reform of the UN and the Security Council, according to Konstantin V Vnukov, director, first Asia department, Russian foreign ministry, and head of delegation for trilateral cooperation between India, Russia and China, on a visit to the capital for the seventh ministerial of the troika.
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As Brazil is another rising Economy, the troika will coordinate with the Latin American nation although it is not part of the region.
The reason behind RIC formation is that it has 40% of the world's population and occupies 20% of its surface, but less than 10% of its GDP.
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