NEW DELHI, May 16:The intra-BRICS trade has increased multiple times over the last few years but it accounts for only around 5 per cent of the global trade, reflecting huge untapped potential for deeper integration and stronger value-chain linkages, Commerce Secretary Rajesh Agrawal has said.
BRICS is a grouping of 11 developing countries – Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.
It acts as a platform for consultation and cooperation on contemporary issues having global as well as regional significance, and issues of global political and economic governance.
India has assumed the BRICS Chairship for the fourth time, after 2012, 2016 and 2021. (IANS)
