GOA (Sputnik), Anastasia Levchenko – Idian leader Narendra Modi is already at the summit's venue. Arrival of the presidents of Russia, South Africa and China is pending.
The eighth annual BRICS event will be attended by all five leaders, who will discuss a plan for cooperation in the near future as well as a wide range of political, economic and security issues.
BRICS is an association of five developing economies which comprise over one third of the world's population. BRICS member-states (China, Russia, Brazil, India and South Africa) have a combined nominal GDP equivalent to approximately 20 percent of the gross world product.