Press Information Bureau

Government of India

Ministry of Commerce & Industry

21-November-2016 16:59 IST

The 1st BRICS Trade Fair was organized at Pragati Maidan in New Delhi from 12-14 October 2016.

The BRICS Trade Fair was completely an interactive business engagement and was organized with an objective to promote trade and investment opportunities amongst the participating BRICS nations i.e. Brazil, Russia, India, China and South Africa. 397 companies participated at the BRICS Trade Fair to showcase the capability of each of the BRICS nations in the identified sectors. About 910 companies participated at various BRICS business engagements and nearly 1601 Business-to-Business (B2B) Meetings took place over three days. The BRICS Trade Fairs, like the other business to business International Trade Fairs was a unique platform for showcasing technologies, goods and services, exploring opportunities for businesses and entering into dialogues and discussions for joint venture partnerships and collaborations. As the BRICS Trade Fair was not a direct consumer fair allowing sales of merchandise, the immediate revenue earned by participating Indian Companies cannot be quantified.

India organised the 1st BRICS Trade Fair during its Presidency pursuant to the announcement made by Hon’ble Prime Minister of India during the BRICS Summit at Ufa, in 2015. The Presidency of BRICS will move to China in 2017 and they would need to take a decision on the organisation of the next BRICS Trade Fair.

This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Lok Sabha today

***

MJPS

BRICS trade promotion: inaugural Trade Fair facilitated cross-border business engagements and B2B partnerships among member nations. The inaugural BRICS Trade Fair in New Delhi, organised under India's BRICS Presidency, served as an interactive business engagement to promote trade and investment among BRICS nations by showcasing technologies, goods and services, facilitating B2B meetings and exploring joint venture opportunities; it was not a consumer sales event and immediate revenue for participating Indian firms was not quantifiable, and the decision on future fairs rests with the next Presidency.