1st Indian BRICS trade fair to boost trade among nations

Q.  To boost trade among BRICS nations, India has planned to organise the trade fair for the bloc at which venue?
- Published on 04 Oct 16

a. Goa
b. Delhi
c. Mumbai
d. None of the above

ANSWER: Delhi
 
1<sup>st</sup> Indian BRICS trade fair to boost trade among nationsTo boost trade among the BRICS nations, India will, for the first time, organise a trade fair for the bloc including BRICS
  • Intra BRICS trade in 2014 was USD 297 billion- less than 5 % of the USD 6.5 trillion worth trade that the five countries had with the world that year
  • Goods imports from the world onto the BRICS countries amounted to USD 3.03 trillion in 2014 while global goods exports of BRICS nations were USD 3.47 trillion that year
  • The first BRICS Trade Fair and Exhibition will be held from Oct 12=14 in the NCT ahead of the BRICS political summit in Goa (Oct 15-16 2016)
  • Initiative was proposed by PM Modi in 2015
  • The focus of the fair is Building BRICS- Innovation for Collaboration
  • The fair will promote intra BRICS economic engagement and showcase 20 key sectors including aerospace, auto, agro processing, chemicals, green energy, healthcare, railways and textile
  • Startups and innovators will also showcase technology to solution providers in areas such as healthcare, education,waste management and energy efficiency
  • Leaders from Bangladesh, Myanmar, Bhutan, Nepal and Thailand have also been invited to the fair

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