The 8th BRICS Summit will be held at the Indian state of Goa. In February 2016, India assuemd chairmanship of BRICS. External Affairs minister, Sushma Swaraj said that this year’s emphasis during its chairmanship will be institution building, implementation of previous commitments flowing from the past Summits, and exploring synergies among the existing mechanisms.
A series of events, such as Under-17 Football Tournament, BRICS Film Festival, BRICS Wellness Forum, BRICS Youth Forum, Young Diplomat’s Forum, BRICS Trade Fair and BRICS Friendship Cities Conclave will be hosted across India. This, according to Swaraj will create an occasion for BRICS partners to visit different cities of India. Meanwhile, the National Development Bank approved its first set of laons of $811 million that were disbursed to the BRICS countries in April 2016. The projects within these countries are in the renewal energy development sphere.