Ehn, BRICS as a block is overstated as well. It started off as a one off marketing term for GS's Asia practice which was going through a wild west phase in the early 2000s (1MBD scandal is the most notable of the scandals from that time).

While there is some level of economic integration among all the BRICS, on a Grand Strategy standpoint it's not very cohesive. The only commonality they have is supporting a multipolar world - basically a bunch of regional Monroe Doctrines. The issue is, for RIC, their near abroads all clash with each other which leads to them concentrating on each other. Finally, any conversation about the BRICS ignores the reality that SK+Japan+Taiwan are the true financial behemoths in Asia from an FDI standpoint.