BRIC, an acronym coined by Goldman Sachs in 2001 to categorize the leading emerging economies a Brazil, Russia, India and Chinaawhich have the potential to rank as the four dominant economies of the world by 2050. This led way for many associations amongst these countries for mutual benefits and growth of economy. Later South Africa was added in the list due to its promising future creating the new acronym, BRICS. Taking the BRICS association one step further, the BRICS Business Schools joined hands in April 2008 in Shanghai for mutual cooperation. The same year, a Memorandum of Cooperation among BRICS universities was signed in Moscow.

Speaking on the occasion, Mr. Ramesh Venkateswaran, Director, SDM-IMD said, “The institute has always aimed to offer the best education to its students. Our associations with such globally recognized institutes will give our students a wider perspective to the world of business management. We already have exchange programs with Texas A&M; University and Shanghai University. With these new relationships formed, SDMIMD is now truly a global management education provider.”

The other members of the BRICS Business School Consortium are FGV-EAESP (Brazil), State University for Management (Moscow), Xavier Institute of Management and Entrepreneurship (India), PSG Institute of Management (India), University of International Business and Economics (China), Guangdong University of Foreign Studies (China), Shantou University (China), Renmin University of China (China, Graduate School of Business (University of Kwazulu Natal, South Africa).