Visit of the BRICS CCI delegation to South Africa (22ND March-3RD April’13)
A delegation of 15 persons from the Chamber visited Durban besides Johannesburg and Cape Town, South Africa to witness the business environment around and for the BRICS Summit. The fifth summit of the BRICS took place in Durban on March 26-27, promised to be an exceptionally significant event in several ways. It highlighted the strategic weight and capability in whole of the African continent and especially in the global political arena. The four widely discussed areas of the summit were:
- African infrastructure development;
- The BRICS-led development bank with a starting capital of $50 billion from each pa ticipating nation;
iii. BRICS think-tank; and,
- A business council.
- Highlights of the 6th BRICS summit in Fortaleza, Brazil
- Agenda : Inclusive Growth : Sustainable Solutions
- BRICS Expansion : By increasing engagement with other countries, particularly developing countries and emerging market economies, as well as with international and regional organizations. A joint session with the leaders of the South American nations, under the theme of the Sixth BRICS Summit with a view to furthering cooperation between BRICS and South America is latest example.
- Cooperation : Four fold agenda of peace, security, development and cooperation. Comprehensive cooperation and a closer economic partnership to facilitate market inter-linkages, financial integration, infrastructure, connectivity as well as people-to-people contacts.
- Statistics : BRICS nations undertook that their National Institutes of Statistics and the Ministries of Health and Education to work on the development of joint methodologies for social indicators to be incorporated in the BRICS Joint Statistical Publication.
- GDP : The BRICS stand ready to contribute to the G20 goal of lifting collective GDP by more than 2 percent above the trajectory implied by current policies over the coming 5 years.
- Bank for BRICS Group: Decision to create the New Development Bank (NDB) based in Shanghai will contribute to the efforts to eliminate infrastructure gaps and meet sustainable development needs of the BRICS Group and other emerging markets. With initial authorized capital of $100 billion, including $50 billion of equally shared initial subscribed capital, it will become one of the largest multilateral financial development institutions. Importantly, it will be open for other countries to join. The first chair of the Board of Governors shall be from Russia. The first chair of the Board of Directors shall be from Brazil. The first President of the Bank shall be from India. The headquarters of the Bank shall be located in Shanghai. The New Development Bank Africa Regional Center shall be established in South Africa concurrently with the headquarters.
- CRA : Creation of the Contingent Reserve Arrangement, or currency reserve pool, initially sized at $100 billion, will help protect the BRICS Group against short-term liquidity pressures and international financial shocks.
- Cooperation Agreement : The summit welcomed conclusion of the Cooperation Agreement on Innovation within the BRICS Interbank Cooperation Mechanism.
- MoU: The summit welcomed signing of the Memorandum of Understanding on Cooperation among BRICS Export Credit and Guarantees Agencies that will improve the support environment for increasing trade opportunities among our nations.
- Tax cooperation : The summit welcomed conclusion a cooperative approach on issues relatedto tax administrations and to enhance cooperation in the international forums targeting tax base erosion and information exchange for tax purposes.
- State Owned Companies : The summit highlighted important role that State Owned Companies (SOCs) play in the economy and encourage our SOCs to continue to explore ways of cooperation, exchange of information and best practices. BRICS Group also recognize the fundamental role played by small and medium-sized enterprises in the economies of BRICS countries as major creators of jobs and wealth.
- New Chair of BRICS : As Russia, is taking over the position of the BRICS Chair, the next summit will be held in the city of Ufa in the Republic of Bashkortostan, in July 2015.
3 – MOU AND UNDERSTANDINGS REACHED:
- MOU dated 26th April, 2013 signed with Mr Rajen Ghasi, representative in Cape Town in South Africa to represent the Chamber.
- MOU with FORE School of Management regarding International conference on “Strengthening the strategic alliance for BRICS nations”
- Memorandum of Understanding between MBITA/Trade Port, Santa Cruz, CA and BRICS Chamber of Commerce & Industry to provide trade promotion services to the business organizations.
- MOU is proposed and is to be signed between BRICS CCI and Red Flag Oversight Consultancy Services Private Limited regarding regulation of inter-se business relationships.
- MOU proposed with Bengal and Kerala Chambers of Commerce and Industry.
1st NEWSLETTER OF THE CHAMBER
The first issue of the newsletter of the Chamber was launched in September’13 and showcased the activities and projects taken up by BRICS. The newsletter showcased the articles by various contributors from the BRICS countries. Some of the articles were in Hindi, Chinese and Russian and hence catered to reader from these countries. The list of notable writers that contributed to the newsletter included Dr. Sushi Singh, who is an educationist and social activist and has been associated with the field of education for past 22 years and Jyoti Srivastava who is an advocate at Supreme Court of India. Dr. Debidatta Aurobindo Mahapatra, who is an Indian commentator, presented his views on relations between the BRICS countries and talked about economic and trade prospects between the five nations. Contributions came from a plethora of notable writers like Rajeev Sharma , a prominent journalist and a strategic affairs analyst, M.K. Bhadrakumar wrote about the BRICS Summit meeting in Durban and an article was also contributed by the Russian writer Konstantin Garibov. The articles were complied by under the guidance of Dr. B.B.L Madhukar (Secretary General, BRICS CCI) , the Chief Editor of the newsletter who was assisted by a team of editors which included- Begum Yaman Khan, Dr. Sushi Singh, Ms. Prachi Tyagi and Capt. M.P. Tiwari. The newsletter also received and featured advertisements of known companies like Pravek, Herbal, Urbane Stone, FORE School of Management, NTPC, NF Infratech Service Pvt. Ltd. among many others. This newsletter was widely circulated.
4 – 2nd NEWSLETTER OF THE CHAMBER
The second issue of our newsletter be will out soon and will include information about trade statistics and laws and regulation of BRICS Countries. The magazine will emphasise on important global subjects like Art & Culture, Education, Travel and Tourism, Sports and will also include complete information about the BRICS Summit ’14 which was held at Brasilia, Brazil.
5 – BRICS CCI FLASH
We are adding a new chapter- BRICS CCI Flash- August 2014 Issue, a joint initiative of Dr. B.B.L. Madhukar (Secretary General BRICS CCI); former Chairman & M.D of MMTC Ltd; Vice President FORE School of Management and Ms. Jyoti Srivastava Advocate, Founding Partner, Legal Imperials, Delhi based law firm (Head Dispute Resolution Desk), Legal Aid Counsel Saket District Court and Mediator (ICADR). In this initiative, we have different programmes on important issues throughout the year and literary contributions through our Newsletter platform- BRICS &BEYOND. Through these initiatives, we try to bring together the people of BRICS countries and friendly nations and neighbors to enable them explore different opportunities in each others nation and strengthen the spirit of the BRICS philosophy and commitments. In 2014, the Chamber aims to expand its reach and play a role of great catalyst to help BRICS countries and friendly nations and neighbours to meet the commitments made at summit at Brazil in 2014.
EVENTS PROPOSED IN THE YEAR 2014-2015 & BEYOND
1) E-Commerce Conclave 2014
BRICS Chamber of Commerce and Industry (BRICS CCI) is organizing its first edition of E-Commerce Conclave’14 on 19th November 2014 at India International Centre, New Delhi. MSTC Ltd., leading e Commerce entity in India, is a Key Partner with us in this event. Also, Fore School of Management has extended hands as the Knowledge Partner for this event.
BRICS CCI wants to provide a one stop platform for the E-commerce companies to showcase themselves and their capabilities, and provide networking opportunity to for the collective growth. We wish to make this knowledge exchange session an annual event. Invitees include- Representatives from various Embassies, Government Officials, and Members of the Chamber, Corporates and Students. It is a one day event on the growing dimensions of E-commerce in India. We have scheduled three Panel Discussions to touch upon various aspects relevant to the
E-commerce companies operating in BRICS countries which are as follows:
- Technology & Innovation;
- Payment & Security Issues &
iii. Fund Raising & Investors’ Role
2) Universalisation of Education
3) Empowerment of Women
4) Workshop on ‘Corporate Social Responsibility’
5) Buyer seller meet in Russia (Moscow & St. Petersburg)
6) Workshop and Exhibition on Agri Business
VOTE OF THANKS TO THOSE WHO INSPIRED & ACTIVELY HELPED
Add the very outset, we must place on record the valuable contribution made by Mr. Ashok Kumar Singh, Mr. Anil Kumar Agarwal, Mr. Rajesh Mehta, Dr. Sushi Singh, Mr. Ravi Dhingra and Mr. M.C. Gupta who worked relentlessly to garner meaningful and substantial support for our organization and we would like to express our heartfelt gratitude towards them. We are thankful to our esteemed member Mr. Anil Peshawri who generously hosted the social side of the Annual General Meeting held on 11 September’13. We would like to extend our vote of thanks to Mr. Rakesh Srivastava, Director of Rockland Group, for hosting a gala evening party on the New Year Day of 2014. Grateful thanks are also for those dignitaries and officials, more specially our Senior Advisors who gave us their support by way of their valued participation in our events and who continuously showered their blessings. We are also thankful to media persons who brought out extensive coverage of our events. Last but not the least, I must thank and express my gratitude towards the support we have received from our principal office bearers; the President, Vice- President, Treasurer and everyone. This to place on record our sincere thanks to the officers past (Akanksha, Shrestha, Divya, Prachi) & present, Ms. Megha Gupta assisted by Mr. Durgesh Kumar Jha, Ms. Varad Grover and Ms Aditi Nagpal without whose unending support our organisation would not have made such humble progress. We assure our valued members that we shall continue to endeavour towards fulfilment of the goals enshrined in our Chamber’s mandate and objectives and relentlessly serve to meet the expectations of each one of you associated with the Chamber’s objective of “growth with equity”.
New Delhi (India) Dr BBL Madhukar
27th September’14 Secretary General
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