Five major emerging economies in the World will meet in Brazil for the 11th BRICS summit for two days from November 13.
The theme of the BRICS summit this year is “Economic Growth for an Innovative Future.” Prime Minister Narendra Modi and heads of state of other member contries like Brazil, Russia, China and South Africa will be attending the meet.
This will be the sixth time that Mr Modi will be participating at the BRICS summit. His first BRICS summit was at Fortaleza in Brazil in 2014.
A large business delegation from India is also expected to be present during the visit especially to attend the BRICS Business Forum where the business community of all five countries are represented.
Mr Modi is scheduled to hold separate bi-lateral meetings with the Russian President Vladimir Putin and the Chinese Premier Xi Jinping apart from the BRICS business forum closing ceremony and the closed Plenary Sessions of the XI BRICS Summit.
In the closed session, the discussions are expected to be focused on challenges and opportunities for the exercise of national sovereignty in the contemporary world. This will be followed by the BRICS Plenary Session where the leaders will discuss the intra BRICS cooperation for the economic development of BRICS societies.
Thereafter Mr Modi will participate in the meeting of the BRICS leaders with BRICS Business Council where in the Chairman of the Brazilian BRICS Business Council and the President of the new Development Bank are expected to submit reports.
Immediately thereafter a BRICS MoU between Trade and Investment Promotion agencies will be signed.
On the conclusion of the summit leaders will issue a joint declaration.
BRICS brings together five major emerging economies comprising 42 percent of the world’s population, having 23 percent of the global GDP and around 17 percent of the share and world trade.
BRICS cooperation has two pillars including consultations on issues of mutual interest through meeting of leaders and ministers as well as cooperation through meeting of senior officials in a number of areas including trade, finance, health, education, science and technology, agriculture, communications IT etc.