In the closed session, the discussions are expected to focus on challenges and opportunities for the exercise of national sovereignty in the contemporary world. This will be followed by the BRICS plenary session where the leaders will discuss the intra-BRICS cooperation for the economic development of BRICS societies.
Prime Minister Modi will also participate in the meeting of the BRICS leaders with BRICS Business Council where Chairman of the Brazilian BRICS Business Council and the President of the new Development Bank are expected to submit reports.
A BRICS MoU between Trade and Investment Promotion agencies is expected to be signed. The summit will end with a joint declaration.
BRICS brings together five major emerging economies comprising 42 per cent of the world's population, having 23 percent of the global GDP and around 17 per cent of the share and world trade.
BRICS cooperation has two pillars including consultations on issues of mutual interest through the meeting of leaders and ministers as well as cooperation through the meeting of senior officials in various areas.