The global financial crisis, had hit the BRICS economies - Brazil, Russia, India, China and South Africa, but these countries are likely to rebound, with India likely to clock "steady" GDP growth in next three years.

The global financial crisis, had hit the BRICS economies - Brazil, Russia, India, China and South Africa, but these countries are likely to rebound, with India likely to clock "steady" GDP growth in next three years.

Ministers from the BRICS economies defended their growth prospects on Friday despite waves of turbulence caused by the tightening of monetary stimulus in the US and concerns about a potential cash crunch in China.