While addressing a meeting, Vaz said India has become an emerging football market with the recent creation of Indian Super League (ISL), adding it is a key player in all segments within BRICS.
He urged to use football as a tool to enhance BRICS members spiritually, socially, physically and mentally.
"It will also be able to promote a CSR Initiative. BRICS U-17 Football Cup is the first football event involving BRICS nations," said Vaz.
"U-17 football tournament with the representing youth teams of the five nations plus a guest team. The BRICS U-17 Football Cup will happen yearly and if possible in conjunction with BRICS Summit following the molds of FIFA U-7 tournaments.
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"Each edition of BRICS U-17 Football Cup will have one of the BRICS SUMMIT hosting nation as partner to organise the tournament," said Vaz while addressing the ASSOCHAM sports council.
"To use football and 'soft diplomacy' as a powerful tool to bring together people from different ethnic, cultural, religious, linguistic and socio-economic backgrounds among BRICS nations," said Vaz.