The 2016 Goa Summit was the 8th BRICS annual gathering, taking place over October 15-16 in the coastal state of Goa, India. As a premier forum for major emerging national economies, the Summit underscored India’s expanding role on the international stage and aimed to enhance the dialogue and partnership between the five member countries: Brazil, Russia, India, China, and South Africa.

India, hosting the Summit for the second time (the first being in 2012), centered the theme on “Building Responsive, Inclusive and Collective Solutions.” This theme was carefully chosen to reflect India’s vision for its BRICS chairmanship and the member countries’ shared goals to address global economic challenges through collaboration and collective decision-making processes.

The Summit’s locale in the idyllic setting of Goa lent a relaxed backdrop to high-level diplomacy. The Indian Prime Minister, Narendra Modi, welcomed the visiting leaders: President Michel Temer of Brazil, President Vladimir Putin of Russia, President Xi Jinping of China, and President Jacob Zuma of South Africa.

The Summit aimed to reinforce cooperation in areas such as the economy, peace and security, and cultural exchanges. Key outcomes targeted the furthering of economic ties with a focus on the BRICS Business Council, aimed at facilitating economic cooperation and trade. Discussions also aimed to enhance the operationality of the New Development Bank (NDB), set up to finance infrastructure and sustainable development projects in BRICS countries and other emerging and developing economies.

Amidst a global political climate marked by a changing balance of power and economic uncertainty, the BRICS leaders at the Goa Summit emphasized the need for reform in global governance institutions, like the United Nations and the International Monetary Fund, to reflect the growing influence of BRICS and other developing countries.

In addition to the usual economic and political dialogues, there was a significant focus on combating terrorism and enhancing global security. The adoption of the “Goa Declaration” at the end of the Summit encapsulated the leaders’ collective stance on various international issues ranging from the need to counter terrorism to the endorsement of a rules-based, transparent, non-discriminatory, open, and inclusive multilateral trading system.

Parallel events during the Summit included a BRICS Business Forum, BIMSTEC Outreach Summit (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation), and the first-ever BRICS-BIMSTEC Leaders’ Retreat. These events deepened cooperation within BRICS and extended the sphere of regional engagement, including countries in the South Asian region that are part of BIMSTEC.

The 2016 Goa Summit concluded with a forward-looking approach, with an enduring commitment from the BRICS nations toward fostering a peaceful, stable, and prosperous international community, and a resolve to build on economic partnership for the well-being of their populations and the global economy.