BRICS is an association of five major emerging economies: Brazil, Russia, India, China and South Africa. The 8th BRICS summit was held in Goa, India in 2016. The BRICS countries represent over 3 billion people and have a combined GDP of $16.6 trillion. The summit addressed many issues including financial support, trade, health, education, science and technology, and infrastructure development. Being part of BRICS provides economic opportunities for India such as employment, development partnerships, and foreign direct investment.

1. BRICS- 2016
8th BRICS Summit- Goa (India)- 2016
Mithlesh Kumar
Camithlesh@live.com

2. What is BRICS?
• Since we are discussing this topic it is important for us to
understand what BRICS actually is.
• BRICS is the acronym for an association of five major
emerging national economies – Brazil, Russia, India, China
and South Africa. All these countries are also G-20
Members.
• Earlier the group was BRIC and later on South Africa also
became a part of it in 2010.
• Apart from BRICS India is member of some other important
groups as well like SAARC, Commonwealth, UN, G-20, G8+5,
G4, BIMSTEC, APEC etc.

3. Important Facts About BRICS?
• The population of BRICS countries represent over 3 billion
people (i.e. almost half of the population of the world). All
the five members are in the top 25 of the world by
population.
• Combined GDP of BRICS countries is 16.6 Trillion $ (i.e.
almost 22% of Gross World Product. GDP (PPP) is
approximately 37 Trillion $
• Although first BRIC summit took place in 2009 and US is
not a part of BRICS country , the concept of BRIC was
initiated in New York (USA) by Jim O'Neill (Chairman- Asset
Management- Goldman Sachs)

4. BRICS-2016 Representatives
Country Represented By Name
Brazil President Michea Temer
Russia President Vladimir Putin
India Prime Minister Narendra Modi
China President XI JinPing
South Africa President Jacob Zuma

5. BRICS Discussion Issues
• Agenda of BRICS summit generally consist of tracking the
improvement from previous years, Execution of new deals
and contracts & making strategies to mitigate new risk and
challenges
• These Agenda Varies from time to time keeping the current
needs and challenges in focus. Generally almost 50-55
official meeting takes places between leaders and technical
advisors of the nation.
• The major agendas covered in 2016 BRICS summit are
regarding following issues:-
• Financial Support & Stability
• Statistical Support & Agencies meetings
• Geospatial Technology

6. Agenda (continue…)
• BRICS development Bank
• Anti Corruption
• Trade & Economy
• IT & Digital Support
• Railway Expert Meetings
• Meetings of Completion Authorities
• Access to Medicines & Trade Agreements
• Labour & Employment
• Intellectual Property
• Audit Institutions
• Youth Summit
• Energy Saving & Efficiency
• Anti-Drug Agencies
• Money Laundering

7. Agenda (continue…)
• Foreign Policy
• Skill Development
• Health Surveillance system
• Smart Cities
• Disaster Management
• Tourism
• Films
• Handicrafts
• Terrorism
• National Security
• Infrastructure Development
• Agriculture
• Science & Technology Development
• Education System

8. Agenda (continue…)
• Sports
• Credit Agencies
• Local Bodies
• Business Development
• Internet Security Protocol & Cyber Terrorism
• EXIM Policy
• Population
• Tax Agreements
• FDI Investments
• Satellite Supports
• Seaways & Roadways Co-operation

9. BRICS for India- Population
• All these 5 BRICS countries are emerging & developing
countries. So the immense potential of growth exists in each of
these countries. It is important for these countries to work
together to make best use of the each other country's labour &
natural resources. As mentioned earlier as well, that
population of these 5 BRICS countries are more than 40 % of
overall population of the world. Hence India has the
opportunity of using cheap labours as well as bringing
employment for youth
Population Data of BRICS countries
Country Population Ranking in World % of world's Population
Brazil 20 Crore 5th 2.77%
Russia 14 Crore 9th 1.97%
India 129 Crore 2nd 17.8%
China 137 Crore 1st 18.5%
S.Africa 5 Crore 24th .75%

10. BRICS for India- Development
• Out of all 5 BRICS countries India has the fastest growth rate.
In fact, India is one of the fastest growing nations in the world
at the moment. Being a leader in growth rate, other BRICS
countries are eyeing on India for support & Investment. This
gives India the opportunity to be a leader of BRICS & develop
further with help of remaining 4 BRICS counties by bringing
the technology and using the resources.
Country Growth Rate
Brazil -3%
Russia -3.9%
India 7.5%
China 6.9%
S.Africa 1.4%

11. BRICS for India- Partnership
• Being part of one of the major groups in the world provides
India an immune & a shield to compete with other developing
& Developed countries. BRICS in itself is one of the most
powerful groups, hence it can easily have an influence over
decisions taken by the United Nations, G20 Nations etc. So it
can easily work favour, if India maintains good relations with
other BRICS Nations.
• Lets have a look at the financial strengths of BRICS countries:-
Country GDP (Real Term) Ranking- worldwide
Brazil 1.7 Trillion $ 9th
Russia 1.2 Trillion $ 12th
India 2.2 Trillion $ 7th
China 11.3 Trillion $ 2nd
S.Africa .28 Trillion $ 41st

12. BRICS for India- Employment
• Even after being one of the fastest growing country at the
moment, the per capita income of India is at the bottom of the
list. Reason of this kind of per capita income is un-
employment & non- adequate payment of skilled labour.
Getting support from BRICS country could help India in
bringing employment to improve the overall per capita income
of the country:-
• Lets have a look at the Per-capita Income of BRICS countries:-
Country Per Capital Income/Anum Ranking- worldwide
Brazil 15646 $ 76th
Russia 26211 $ 48th
India 6187 $ (least in BRICS) 122nd
China 14340 $ 84th
S.Africa 13209 $ 89th

13. BRICS for India- FDI
• In the recent time, India has focused on FDI very seriously and
have taken critical actions on every possible opportunity to
bring in the Foreign Direct Investments from other countries
in whatever sectors feasible to India . Like Insurance etc.
• Unfortunately, None of these BRICS countries are major part of
India's FDI inflows. India has the opportunity to encash the
partnership and bring the FDI from BRICS countries:-
• Major FDI Investors For India:-
Country FDI Investment (%)
Singapore 34%
Mauritius 21%
USA 13%
USA 13%
Switzerland 8%
Netherlands 7%
UK 5%