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The 21st century is recognized as an era of Knowledge. It is realized that knowledge is a critical element of producing wealth and creating job in contemporary societies. One of the new developing associations that the world is currently seeing is the formation of the BRICS countries namely Brazil, Russia, India, China and South Africa. This present paper does the comparative study of BRICS nations on the basis of Knowledge Economy Index (KEI) as given by World Bank Institute. The paper highlights the four pillars of knowledge economy and its indicators. Over time comparison is also done among BRICS nations. It has been found that these developing economies have shown improvement over the period. The paper concludes that education and information and communication infrastructure play a major role in converting the industrial economies to knowledge economies and which will further pave the way for social and economic development. Russia Federation is strong in all the four pillars of knowledge economy and could be placed at 1st rank on basis of KEI and India being weak on the basis of indicators of knowledge economy is placed at 5th rank among BRICS nations.
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