Leaders from the BRICS countries — Brazil, Russia, India, China and South Africa — will launch new initiatives for cooperation at the Summit meeting in Goa this week as they mark the successful operationalisation of initiatives like the BRICS New Development Bank and the Contingent Reserve Arrangement, Prime Minister Narendra Modi has said.

“I am optimistic that the BRICS Summit will strengthen intra-BRICS cooperation and advance our common agenda for development, peace, stability and reform,” Modi said in a statement on Friday issued ahead of upcoming eigth BRICS Summit and first BRICS-BIMSTEC Outreach Summit.

"In a first, I am happy that India is facilitating an outreach Summit with the BIMSTEC leaders of Bangladesh, Bhutan, Myanmar, Nepal, Sir Lanka and Thailand,'' the PM added.

Modi will also receive President Vladimir Putin of Russia for the India-Russia Annual Summit and President Michel Temer of Brazil for a bilateral visit.

As Chair of the BRICS this year, India has embraced stronger emphasis on promoting people-to-people linkages in diverse fields, including trade, sports, education, films, scholarship, and tourism, the statement said. It is anchored in the belief that our people are pivotal partners in our effort to craft responsive, collective and inclusive solutions.

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