Chinese President Xi Jinping and Prime Minister Narendra Modi will hold a bilateral meet ahead of BRICS Summit, schedule to take place on October 15 in Goa.
A meeting of BRICS (Brazil, Russia, India, China, South Africa) trade ministers began in New Delhi. Global economic trends and development of a framework to enhance economic co-operation among the member nations were among the topics that were discussed in the meeting.
The meeting, is being hosted by Commerce and Industry Minister Nirmala Sitharaman, and is being attended by her counterparts from Brazil, China, Russia and South Africa.
The bloc comprising five countries has 42 per cent of the world population and a combined GDP of over USD 16 trillion. In order to push trade among the BRICS nations, India, for the first time, is organising a trade fair on the same day.
The fair will be a platform for respective BRICS countries to exhibit state-of-the-art technologies and advances made in industrial development. Intra-BRICS trade grew to USD 297 billion in 2014, from USD 281.4 billion in 2012.
Business leaders from BIMSTEC countries (Bangladesh, Myanmar, Sri Lanka and Thailand, Bhutan and Nepal) have been invited for meetings and discussions with the BRICS business leaders and the companies at the fair.
(With inputs from PTI)