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NEW DELHI: India will host the eighth annual Summit of BRICS from October 15-16 in Goa in its capacity as chair of the influential bloc comprising five countries with 42 per cent of the world population and combined GDP of over $16 trillion.

External Affairs Minister Sushma Swaraj made the announcement today during a function where she also unveiled a logo and a website of the Summit.

India assumed chairmanship of BRICS (Brazil-Russia-India- China-South Africa) from Russia on February 15 and it will last till December 31.

"I congratulate the Russian Federation for steering the BRICS process commendably that culminated with the 7th BRICS Summit in the beautiful city of Ufa in July 2015. I am happy to share that the 8th BRICS Summit will be hosted in Goa from October 15-16," Swaraj said.

The External Affairs Minister said India's core-theme during BRICS chairmanship will be building responsive, inclusive and collective solutions for the grouping.

The logo for the Summit is a lotus having colours from all the five member countries and a traditional 'namaste' in the centre.

"We will adopt a five-pronged approach during our Chairmanship. It will comprise Institution Building, Implementation, Integration, Innovation, and Continuity with Consolidation (IIIIC or I4C)," she said speaking on the occasion.

She said India's emphasis would be on institution building, implementation of previous commitments flowing from the past Summits, and exploring synergies among the existing mechanisms.

The grouping has been pushing for greater economic growth among the member countries and reform of global financial institutions.

It has set up a the New Development Bank headquartered in Shanghai, with India's K V Kamath at present serving as its chief.

Swaraj said during India's chairmanship, "over 50 sectoral meetings will be organised at the ministerial, official, technical, and track II levels."

The minister further said t hat enhancing "greater people- to-people participation" will be among the top priorities during the BRICS events which would be held "throughout the year across the country".

"We have planned a series of events including - the BRICS Under-17 Football Tournament, BRICS Film Festival, BRICS Wellness Forum, BRICS Youth Forum, Young Diplomat's Forum, BRICS Trade Fair, BRICS Friendship Cities Conclave besides the think-tank and academic forums," she said.

"This will give people a greater opportunity to enrich the BRICS process. It would also be an occasion for our BRICS partners to visit different cities and states of India," she added.

Source: India to host 8th BRICS Summit in October in Goa