2016 BRICS summit to be held in Goa
India has assumed the chairmanship of BRICS on February 15 this year from the Russian Federation. On this occasion Union External Affairs Minister Sushma Swaraj formally unveiled the BRICS Logo for the duration of India’s BRICS Chairmanship and also launched website. India's tenure will last till December 31 this year.
BRICS is the influential bloc comprising five countries viz. Brazil, Russia, India, China and South Africa.These five countries accounts for 42 per cent of the world population having combined GDP of over USD 16 trillion.
India has assumed BRICS Chairmanship for second time and had hosted the BRICS Summit in 2012 for first time in New Dehli. The 7th BRICS Summit was held in the Russian city of Ufa in July 2015.
BRICS Summit 2016
♦ India will host the 8th BRICS Summit would be organized on 15-16 October 2016 in Goa. During the summit over 50 sectoral meetings will be organised at the ministerial, official, technical, and track II levels.
♦ India's core-theme for the BRICS chairmanship would be "Building Responsive, Inclusive and Collective Solutions (BRICS). The special focus will be on institution-building, implementing past commitments and exploring innovative solutions in a spirit of continuity with consolidation.
BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. Originally it was known as BRIC before the inclusion of South Africa in 2011. The BRICS members are all developing or newly industrialised countries and all five are G-20 members.
♦ Established: 2009.
♦ First Summit: The first formal summit was held in Yekaterinburg, Russia.
The five BRICS countries represent over 3 billion people, or 42% of the world population;The five nations have a combined nominal GDP of US$16.039 trillion,
equivalent to approximately 20% of the gross world product, and an estimated US$4 trillion in combined foreign reserves.