Welcoming Prime Minister Narendra Modi’s thrust on deeper economic cooperation between BRICS (Brazil, Russia, India, China and South Africa) nations, Ficci said the New Development Bank must promote projects in infrastructure, renewable energy and skill development. “We are deeply encouraged by the guidance given by our Prime Minister in context of boosting intra-BRICS economic cooperation. “The New Development Bank has a lot of expectations attached to it and it must promote joint BRICS projects particularly in areas of infrastructure, renewable energy and skill development. “NDB must also support projects in manufacturing sector that foster regional value chains within BRICS. This will give a massive boost to intra-BRICS trade that presently defies potential,” Ficci President Jyotsna Suri said. Referring to BRICS New Development Bank, Modi said it should fund projects which have cross-border collaboration among the five member countries. Modi made the comments while addressing the BRICS Business Council in Ufa, Russia. He said the Contingency Reserve Arrangement (CRA) of the BRICS will come into force soon, which will help in bringing about stability in the BRICS economies. Modi favoured development of a manufacturing chain across the BRICS countries, saying it will help create jobs and benefit all the member nations. Moreover, pitching for closer cooperation and coordination among BRICS nations, Modi also proposed a 10-point initiative that includes India hosting the first trade fair for the grouping and establishing research centres for railways and agriculture. The proposed initiatives for the BRICS include a trade fair, a Railway Research Centre, cooperation among supreme audit institutions, a Digital Initiative and an Agricultural Research Centre. They also include State/Local Government’s Forum, cooperation amongst cities in field of urbanisation, BRICS Sports Council and Annual Sports Meet, a film festival and the first major project of NDB to be in field of Clean Energy. “The BRICS Information Sharing and Exchanging Platform (BRICS Business Portal), anchored by the Fudan University, is an excellent tool that must be used and leveraged by businesses for accessing information on policies and projects across sectors in BRICS countries. “Ficci, as the technical secretariat for the BRICS Business Council from India, will enhance awareness about this portal and its usability amongst businesses in India through its nationwide network,” Suri said. On the initiative of BRICS trade fair, Suri said it can be a very significant platform to connect businesses, learn about investment opportunities and evaluate cutting edge technologies being pursued across sectors in all BRICS countries. “We would be completely supporting this initiative of our Prime Minister and feel that going ahead this could become a critical platform for enhancing intra-BRICS trade and investment flows,” she added.

1. PRESENTED BY:-
SHUBHAM PATIL
New Development Bank
must promote joint
BRICS plans: Ficci

2. Welcoming Prime Minister Narendra Modi’s thrust on deeper
economic cooperation between BRICS (Brazil, Russia, India, China
and South Africa) nations, Ficci said the New Development Bank must
promote projects in infrastructure, renewable energy and skill
development. “We are deeply encouraged by the guidance given by our
Prime Minister in context of boosting intra-BRICS economic
cooperation. “The New Development Bank has a lot of expectations
attached to it and it must promote joint BRICS projects particularly in
areas of infrastructure, renewable energy and skill development. “NDB
must also support projects in manufacturing sector that foster regional
value chains within BRICS. This will give a massive boost to intra-
BRICS trade that presently defies potential,” Ficci President Jyotsna
Suri said. Referring to BRICS New Development Bank, Modi said it

5.  BRICS stands for Brazil, Russia, China, and
South Africa.
 Came into existence in 2001 as BRICS nation
 It is the fastest growing and emerging economics
 BRICS is the international political organization
of leading emerging economies. Its five members
are all developing industrialized countries
 The term BRICS was used for the first time in the
Goldman Sachs report 2003

6.  The BRIC became a mechanism through which the
countries can exchange opinions, seek convergence,
identify areas of cooperation and influence the
international agenda.
 Officially it was admitted as a BRIC nation on 24
December 2010
 With the entrance of South Africa, at the 3rd BRICS
Summit, in April 2011, the BRIC became BRICS,
with capital "S".
6

7.  Vast Land Area
 Developing Economy Globally
 Friendly Trade Relations
 Challenges Related To Economic And Social Integration
 Desire To Make The International Order More Representative
 Possibility Of Cooperation In Many Areas

8.  To achieve regional development
 To remove trade barriers
 Economic development
 Optimum use of resources
 Building relationship

10. KEY ADVANTAGES :
 One of the fastest growing economies in the last centuries
 Brazilian economy becoming less dependent on imports
 Extremely rich in resources such as coffee, sugarcane,
crude oil and iron etc.
 Focus on equitable development has resulted in significant
poverty reduction.
CHALLENGES FOR THE FUTURE:
 Overburdened and ineffective judicial system.
 Industrial output is weak

11. KEY ADVANTAGES:
 Russia has capability in high-technology sectors
 Accounts for around 20% of the world’s oil and gas reserves
 fall in the number of people living below the poverty line
CHALLENGES FOR FUTURE
 Labour shortages and poorly developed infrastructure
 Corruption

12. KEY ADVANTAGES
 1.15 billion people
 2nd largest labour force
 Approximately 2.5 million college graduates per year
CHALLENGES FOR THE FUTURE
 Improving basic educational achievement
 Improving infrastructure and electrical capacity
 Expanding technology industry

13. KEY ADVANTAGES
 Broad expansion of educational achievement
 Rapid economic growth
 Third largest country in land size
CHALLENGES FOR THE FUTURE
 support to rural areas and less-developed regions
 Bank of China sees inflation as a bigger risk
 Need to improve the investment

14. KEY ADVANTAGE
 The South African economy is now the 23rd largest in
the world
 Inflation is now below 5% and falling.
 25% of goods produced in South Africa are for export
CHALLENGES FOR THE FUTURE:
 The economy is growing but not fast enough
 Lack of skills, particularly in IT.
 48% of the population is living below the poverty line

15. 15

16.  To support growth on the continent, notably during the recent
financial crisis
 South Africa’s financial market development and
sophistication
 The World Economic Forum’s 2011/12 Global
Competitiveness Index displayed a high level of confidence in
South Africa’s financial market development, ranking the
country in fourth place globally on this measure.
 Among BRICS members, South African exports to China
grew the most, at 46%, while exports to India grew by 20%, to
Brazil by 14% and by 7% to Russia.

17.  Manufacturing, services and
agriculture
 Energy, infrastructure, mining
beneficiation and healthcare
 Construction and water provision
 The green economy and tourism

18. BRICS

19.  India is also expected to grow faster than China after
2020
 India- Characterized by a low share of consumption
and high savings.
 Rising incomes in the BRICs nations will create a
new middle consumer class
 Featured as- “Roadmap For Contribution”
 Important drivers for growth in the global economy.
 Expansion of their consumer markets and the rise of
multinational companies
 the establishment of a “positive multipolarity" in
international affairs

20.  The BRICS were seen by Brazilian diplomats and
scholars as a useful mechanism to project Brazil
internationally in a rapidly changing global
landscape.
 Lost speed and altitude over the past two years
 Chances of Intra Trade Disputes are high
 Difficulties of articulating their conflicting interests
in some sort of common vision became more evident.
 Different viewpoints and influence in the
international arena.

22.  BRICS will remain a useful mirror
 Brazilian comparisons with China and India in
regards to economic factors
 overcoming current obstacles to higher
sustainable growth
 drive productivity and competitiveness in an
increasingly integrated world economy
 a central role in dealing with global challenges
and threats.

23. CONCLUSION

24. Credit goes to:
AANN