The first trade fair of the BRICS countries, aimed at deepening their economic engagement, trade and investment ties, got underway in New Delhi on Wednesday, to be followed by meetings of the BRICS Business Forum and BRICS Business Council, ahead of the leaders' summit in Goa later this week.
India is the chair for the 2016 BRICS (Brazil, Russia, India, China, South Africa) group of emerging economies.
Holding a BRICS Trade Fair and Exhibition was proposed by Prime Minister Narendra Modi in 2015 during his address to the members of the BRICS Business Council at Ufa, Russia.
The trade fair, being held at the Pragati Maidan exhibition ground in Delhi, is according to the Indian commerce ministry, showcasing about 20 key sectors. These 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 jewellery and skill development.
"The BRICS Trade Fair will be a platform for respective BRICS countries to exhibit the state-of-the-art technologies and advances made in industrial development," the ministry statement said.
Besides, business leaders from BIMSTEC countries (Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand) also have been invited for meetings and discussions with the BRICS business leaders and companies at the trade fair, it added.
"Over 600 exhibitors are showcasing their products and expertise at the BRICS Trade Fair," industry chamber FICCI, the organisers of the three-day event, said in a statement.
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