Solution:India - Brazil and Russia - China are known as the emerging markets.
Emerging markets are nations that are investing in more productive capacity. They are moving away from their traditional economies that have relied on agriculture and the export of raw materials. Leaders of developing countries want to create a better quality of life for their people.
They are rapidly industrializing and adopting a free market or mixed economy. Brazil, Russia, India, China, and South Africa are the biggest emerging markets in the world. In 2009, the leaders of Brazil, Russia, India, and China formed a summit to form "BRIC," an association created in order to improve political relationships and trade between the largest emerging markets.
South Africa joined the "BRIC" group in 2010, which was then re-named "BRICS." India established itself as an emerging market after trade liberalization and other major economic reforms in 1991. The Indian economy has been growing steadily at relatively high rates. It averaged 7.1% in the past decade, with some fluctuations due to political instability and economic reforms.