The Trade Ministers of Brazil, Russia, India, China and South Africa (BRICS) are likely to meet ahead of the Summit level meeting of BRICS leaders, a senior official of the Ministry has said.
India is to host the Summit at the end of March.
Addressing a seminar, Secretary, Ministry of External Affairs, Mr Sudhir Vyas, said that just before the Summit there were also plans to have a financial forum meeting in which the central and development banks will come together.
Besides, in the build-up to the Summit a graduated series of meetings are planned which will come up with suggestions that will feed into the Summit.
“We will have a meeting of the academic group which will bring together think-tanks from the five countries, this will be anchored in Delhi. We would also like to engage with business schools in the five countries,” he added.
The Secretary said another initiative being put in place is having an economic research group bringing together economic think-tanks and experts who can contribute to developing and widening studies in areas of economics which will impact BRICS and the developing world.
“The Summit itself will come up with ideas and initiatives,” Mr Vyas said and added that during the remaining year of India's chairmanship of BRICS it will take forward the action plan developed over the last three summits in a manner that “emphasises quality rather than quantity”.
In addition, the Summit will also focus on issues like food security and agricultural productivity.
“We are looking at values and initiatives that will promote business and investment among BRICS and also in the larger world sphere. We are looking at public health issues and also at science and technology,” he added.
The Secretary was speaking at a seminar jointly organised by the Ministry of External Affairs and the Federation of Indian Chambers of Commerce and Industry (FICCI).