Consensus remained elusive on a common BRICS currency as business leaders from the five-bloc nations debated the pivotal issue at a business forum on the periphery of a summit of the five-member bloc being hosted here by South Africa. In their two addresses at the Summit so far, the leaders of Brazil, Russia, India, China and South Africa have made no or scant references to the issue either. "The BRICS Business Forum discussed the international payments system in detail. "Participants also debated the question of whether a BRICS currency is possible or desirable, with strong views expressed both for and against and little consensus reached," Sim Tshabalala, chief executive of Standard Bank Group, told several hundred captains of industry from the partner countries and over 40 other nations across the globe at the Summit.
Noting that India has 'limitless possibilities and countless opportunities', Modi urged the BRICS business leaders to take advantage of them.
The Brics Development Bank was mooted at a summit in New Delhi in March this year as an alternative to the International Monetary Fund.
Srikanth Kondapalli on what to expect from the seventh BRICS summit meeting to be held in Russia in July.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
'Just as we cannot surrender the interests of our farmers and dairy industry, Trump is also looking for markets for the produce of the farmers in the Midwest, which are his support base.'
India's National Security Advisor Ajit Doval is expected to attend a major security meeting in Moscow next week, organized by Russia's Security Council. Doval is invited for the 13th international meeting of high representatives for security issues, taking place from May 27-29. The meeting, chaired by Sergei Shoigu, Secretary of the Security Council of the Russian Federation, will see participation from over 150 countries and international organizations. Pakistan's NSA, Lt Gen Asim Malik, is also expected to attend the meeting, leading to speculation of a possible face-to-face meeting between the two NSAs amidst heightened tensions between India and Pakistan following the Pahalgam attack and subsequent retaliatory actions.
"For instance, you generally buy your military gear from Russia. That's a way to kind of get under the skin of America, if you go to buy your armaments from Russia."
'The two sides should support rather than undermine each other, strengthen cooperation rather than guard against each other, and enhance mutual trust rather than be suspicious of each other'
Modi is visiting the African country from August 22 to 24 at the invitation of South African President Cyril Ramaphosa. South Africa is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa, since 2019.
India and China have not ruled out a Modi-Xi meeting during the summit.
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
'Happily,' says Ambassador B S Prakash, 'BRICS displayed new-found energy and built something real, a bank. Between needless nihilism and as yet unjustified euphoria, there are many stations for the BRICS train and we can watch its progress with renewed interest.'
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
Modi will first stop in Rwanda for a two-day visit, then visit Uganda from July 24-25 and finally go to South Africa.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
A total of over 75 Heads of State and Foreign Ministers will be meeting with Modi, external affairs minister S Jaishankar and minister of state for external affairs V Muraleedharan during the week across various platforms.
With Donald Trump unable to make it, Modi settles for Brazilian President Jair Bolsonaro.
Modi, who will be addressing the General Debate for the first time in five years, has a packed bilateral and multilateral agenda beginning September 23 till September 27.
She said there was no bigger global challenge than "state-sponsored" and "state-protected terrorism, asserting those supporting terror networks must be made to pay the cost.
President Pranab's four-day visit to China that saw him meeting the top Chinese leadership and discussing the sticky boundary issue and cooperation in combating terrorism besides the need for a predictable nuclear regime.
'Unless the economy is sound in the country how can only three movies collected so much business in a single day?'
Likening India to the "cleanest among the dirty shirts" left with a person towards the end of a business visit, a foreign fund house said the country presents enormous growth potential despite the "kind of mess" it has been in for many years.
At 89th, India is the lowest-ranked among the BRICS.
India's ranking is worst among the five BRICS countries
On the list of 137 economies, Switzerland is followed by the US and Singapore in second and third places, respectively.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
On the index, India has a score of 4.52 while that of Switzerland is 5.81
The overall rank has been propped by the third criteria of innovation and sophistication, which have ranks of 59 and 57 respectively.
The annual list, released on Wednesday by Geneva-based World Economic Forum, comes at a time when the new Indian government has completed 100 days in power and has promised further steps to revive its economy and the ease of doing business in the country.
India and South Africa on Friday agreed to deepen engagement in key areas of defence production, manufacturing, mining and minerals and combating terrorism.
Union Minister of Finance Arun Jaitley's opined, in an article made public on his Facebook page, about the economic reforms in India's future and the potential opportunities in the nation's financial future.
China on Monday said Indian Prime Minister Manmohan Singh's three-day visit from Tuesday is of great importance for deepening strategic partnership amid expectations that the two sides would sign some key pacts, including one to prevent incursions along the LAC.
India Inc has too much on its plate to ensure double digit growth in FY16.
Finance Minister Arun Jaitley who is in Davos to showcase India as an investment destination at the World Economic Forum (WEF), on Wednesday promised India has a "lot in the pipeline" for global investors even as he plans to take up with Switzerland the issue of black money stashed in banks there.
Chinese President Xi Jinping's visit to India is a time for the two countries to get away from the haze of rhetoric and stale euphoria, says Sana Hashmi.
The agreement came in after the Ruias agreed to clear most of the Rs 26,000-crore dues to the lenders on completion of the transaction.
