Goa to host BRICS Summit

We are continuously being informed about the economic slump and rising inflation in the country, but now there is reason to cheer as the International BRICS summit is coming to India next month. It will explore new avenues for economic development, among the 5 members of BRICS, namely Brazil, Russia, India, China and South Africa. The good news is that the Goan Capital of Panaji is going to be the venue for the BRICS summit due to be held on the 15^th and 16^th October 2016. Goa will also be staging many events around the BRICS programme.

The following tentative dates have been given for events that will take place in Goa:

28^th August- Secretary-level meeting of BRICS
29^th August-Ministerial meeting of Environment Ministers of BRICS
19^th-22^nd September- BRICS Academic Forum
14^th October- Meeting of BRICS Finance Ministers, Central Bank Governors, BRICS Development Banks and Workshop on Export Credit
15^th October- BRICS Business Council
15^th October- Annual Meeting of BRICS Interbank Cooperation Mechanism
15^th October- BRICS Financial Forum
15^th & 16^th October- Meeting of Heads of BRICS Development Bank with NDB
16^th October- BRICS Business Council Interaction with BRICS Leaders
To be held in October- U-17 Football Tournament

What is BRICS?

The term BRIC was first used in 2001 by Jim O’Neal, the Chairmen of Goldman Sachs Asset Management to describe the emerging markets of Brazil, Russia, India and China in a report titled 'Building better economic BRIC’s.'

The foreign ministers of the 4 countries met at the margins of the General debate at the UN General Assembly, in New York City on 16^th September 2006. The first official meeting between the Prime ministers of the four countries under the banner of BRICS happened, in Russia, in 2009. In 2014, South Africa was allowed to join the BRIC group of nations, which made it BRICS.