BRASILIA July 19, 2016: The first BRICS Trade Fair and Exhibition will be organized at New Delhi from October 12-14, 2016 just ahead of the BRICS Summit. This is a major initiative proposed by Prime Minister of India in July 2015 during his address to the members of the BRICS Business Council at Ufa, Russia. In line with the core theme for BRICS in 2016, the Trade Fair theme is ‘Building BRICS – Innovation for Collaboration’. While trade and investment flows amongst the BRICS countries have been increasing, these are still far below the potential. To give an impetus to intra-BRICS economic engagement and to foster connectivity amongst members of the business community; India is organizing this BRICS Trade Fair. It is hoped that this will become a permanent mechanism to promote BRICS economic cooperation in times ahead.
During a Roadshow at Brasilia on 18th July, officials from the Federation of Indian Chambers of Commerce and Industry (FICCI) shared information on 15 focus sectors at the first ever BRICS Trade Fair 2016. The sectors include aerospace, agro-processing, auto and auto components, chemicals, green energy and renewables, healthcare and pharmaceuticals, railways, textiles and apparel, infrastructure, IT, engineering goods, tourism, gems and jewelry and skills development.
It was emphasized that the 1st BRICS Trade Fair will be an opportunity for Brazilian companies to showcase technologies and advances made in industrial development. Besides established companies from Brazil, start-ups and innovators from BRICS countries also have the possibility of showcasing their offerings. The idea is to help technology solution providers from BRICS countries share their knowledge and expertise in dealing with common development challenges faced in areas like healthcare, education, energy efficiency, waste management, and urban development.
A new initiative has been taken by India to invite business leaders from BIMSTEC countries (Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand) for B2B meetings and discussions with BRICS business leaders and companies at the Trade Fair. This is an added dimension that complements the outreach efforts being made by BRICS nations to countries in the South Asian region.
Mr. Manish Singhal, Asst. Secretary General, FICCI, stated on 18th July in Brasilia that India will also be organizing a BRICS Business Forum on October 13, 2016. This will be in the form of a full-day conference that will see participation of over 1000 business delegates from BRICS countries. BRICS Trade and Industry Ministers will also attend the meeting to share their vision for economic engagement among BRICS countries. President of the New Development Bank will share perspectives on how the private sector can support efforts to promote sustainable development projects across BRICS. Various working groups of the BRICS Business Council can plan focused seminars and workshops during the BRICS Trade Fair. FICCI will facilitate business interactions for all participants at the Trade fair.