The Ministry of Finance, Government of India along with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) have organised a Seminar on ‘Investment Flows: Challenges, Opportunities and Road Ahead’ on October 13, 2016 at Hotel The Lalit, Mumbai. Union Minister of Finance, Shri Arun Jaitley will deliver the key note address at the Seminar. Dr. Urjit R. Patel, Governor, RBI, Shri U K Sinha, Chairman, SEBI and Shri Shaktikanta Das, Secretary, Ministry of Finance will also address the Seminar and Shri K V Kamath, President, New Development Bank will deliver a special address. The Seminar is a precursor to the 2016 BRICS annual summit to be held in Goa on October 15 and 16, 2016. The summit in Goa will be the eighth annual BRICS summit, and will be attended by the heads of states or heads of government of the five member states Brazil, Russia, India, China and South Africa (BRICS).

The technical sessions in the seminar will deliberate on topics, such as, loan and equity capital and investment flows in BRICS, portfolio investment and capital flows from low tax jurisdictions. Senior officials from SEBI, CBDT, DIPP will be in the panels for these technical sessions along with senior representatives from Government of Brazil, Bank of International Settlement, HSBC India, Standard Chartered Bank, India, Deutsche Bank AG, India. New Development Bank, PWC, AZB Partners, etc. Partners of Deloitte and KPMG among others would also be the panellists. Shri H R Khan, former Deputy Governor, RBI would be moderating one of these sessions.

Background

India is the chair of the BRICS from February to December 2016. The theme of India’s BRICS Chairmanship is Building Responsive, Inclusive and CollectiveSolutions. During India’s BRICS Chairmanship, five-pronged approach has been adopted:

(i) Institution building to further deepen, sustain and institutionalise BRICS cooperation;

(ii) Implementation of the decisions from previous Summits;

(iii) Integrating the existing cooperation mechanisms;

(iv) Innovation, i.e., new cooperation mechanisms; and

(v) Continuity, i.e., continuation of mutually agreed existing BRICS cooperation mechanisms.

A number of other programmes were held in India under the banner of BRICS with major activities in August and September 2016 concentrating on topical issues in respect of education, labour and employment, agriculture, environment, disaster and youth, etc.

Alpana Killawala
Principal Adviser

Press Release : 2016-2017/906