Business / Macro

BRICS trade fair and exhibition begins in Indian capital

(Xinhua) Updated: 2016-10-13 14:10

NEW DELHI - The first BRICS trade fair and exhibition began Wednesday in India's capital city of New Delhi, officials said.

The fair, according to officials, provided a platform for respective BRICS countries to exhibit state-of-the-art technologies and advances made in industrial development.

The three-day fair was held at Pragati Maidan. According to organisers, the fair has attracted more than 600 exhibitors.

"While there are several sectors of interest to BRICS countries that will be represented at the trade fair, the focus will be to showcase some of the best technologies available across BRICS nations to address BRICS countries main development challenges," an official said.

"The BRICS trade fair will focus on start-ups and will bring together young entrepreneurs from across BRICS nations on this platform."

The trade fair showcased advances in several sectors including aerospace, agro-processing, auto and auto components, health care and pharmaceuticals, railways, infrastructure, tourism, gems and jewellery and skill development.

Reports said intra-BRICS trade grew to $297 billion in 2014, from $281 billion in 2012.

The BRICS Business Forum will be held on Thursday and over 1,000 business delegates are likely to participate from all BRICS countries.

The 8th BRICS summit is scheduled to take place on Saturday and Sunday in western Indian state of Goa.

The last BRICS summit was held in the Russian city of Ufa in July 2015.

BRICS is an association of five countries -- Brazil, Russia, India, China and South Africa.

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