BRICS has no plans to form a military and political alliance, Russian President Vladimir Putin said on Wednesday, in an apparent effort to allay apprehensions of the West.
The agenda is to give a concrete shape to a Development Bank and pitch for reforms of the UN Security Council.
The highlight of the first BRICS Summit on the African soil is the possible setting up of a development bank for undertaking infrastructure and development projects.
National Security Adviser Shivshankar Menon on Thursday will represent India in the meeting of high representatives of national security of the BRICS nations in New Delhi, a statement released by the Ministry of External Affairs said on Wednesday.
Prime Minister Narendra Modi's bilateral meetings on the sidelines of the BRICS summit in Johannesburg are being finalised, Foreign Secretary Vinay Kwatra said on Monday but did not give a direct reply on the possibility of a meeting between Modi and Chinese President Xi Jinping.
Pitching for 'zero tolerance" against terrorism, Prime Minister Narendra Modi on Tuesday told leaders of the five-nation grouping BRICS that the "choices" they make now will shape the future of the world at large.
India is keen on the issue of equal share holding since it doesn't want a repeat of the distortions that have crept into Bretton Woods institutions like International Monetary Fund, World Bank and the Asian Development Bank in which rich countries like the US and Japan have a strangle hold.
With Chinese President Xi Jinping listening, Modi said: "We must unitedly fight against it (terrorism), without any discrimination between groups, or countries, sponsors or targeted countries.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
Most of these deals include outstanding payments for acquisitions or stakes in companies. Market experts explained that these Indian firms were keen to settle their deals, even at a discount as they feared that payments might get delayed indefinitely, in case the matter reached court. Lehman's assets in India are currently valued at over Rs 500 crore (Rs 5 billion).
Once the Canadian investigation runs its course, Ottawa may put on the public domain further accusations passing for "evidence" -- and that could happen at some point closer to our general election. All in all, the big question is, what is it that the US is really up to, asks Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi has left from Delhi for Brazil to attend the five-nation Brazil, Russia, India, China and South Africa (BRICS) summit slated to be held for two days, starting Monday. Here is his statement ahead of the meet.
In a first-of-its-kind step, Brazil, Russia, India, China and South Africa (BRICS) will be signing an agreement on Thursday under which they would be able to give credit and grants to each other in their own currency instead of dollars.
'No one knows Pak and understands Pak better than China,' Chinese Foreign Minister Wang Yi said.
Group still far from coordinating monetary/forex policy
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
'The message that India has conveyed since the start of this conflict is clear and consistent. It is important to prevent escalation to ensure continued delivery of humanitarian aid and to work towards an early restoration of peace and stability. A peaceful resolution of the conflict through dialogue and diplomacy is the only way forward'
Other world leaders too voiced concern against terrorism and vowed to fight it collectively.
Cautioning that the traditional sources of economic growth are under stress coupled with fresh uncertainties around the globe, Prime Minister Manmohan Singh on Tuesday said that it would be to the advantage of five-nation BRICS (Brazil, Russia, India, China and South Africa) grouping to coordinate in key areas of development.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
In an interview with Newsweek magazine of the US, Modi said for India, the relationship with China is significant.
China on Wednesday said the latest round of the border talks with India was held in a "candid and pragmatic atmosphere" and the two sides had a "positive, constructive and in-depth discussion" on the resolution of the remaining issues along the Line of Actual Control in the Western Sector.
India on Monday pressed for early disengagement of troops in remaining friction points in eastern Ladakh during a fresh round of high-level military talks with China, people familiar with the matter said.
The booming stock broking industry is being hit by rising attrition as the entry of big Indian business houses and expansion of existing players spawns opportunities for senior and middle-level executives. Surprisingly, multi-national players are at the receiving end as their executives are being lured by leading Indian corporate houses, which are entering into this space.
There is a congruence of interests between Ukrainian intelligence and its Western mentors to destroy Wagner and eliminate it from the geopolitical chessboard altogether, argues Ambassador M K Bhadrakumar.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
Prime Minister Manmohan Singh on Thursday left Durban for home, ending a four-day visit during which he attended BRICS (Brazil, Russia, India, China and South Africa) Summit that decided to establish a development bank to finance infrastructure projects in emerging economies.
'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.'
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
The talks are following up the outcome of the 19th round of Corps Commander-level talks held between the two sides on August 13-14 at the Chushul Moldo border meeting point.
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.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
External Affairs Minister S Jaishankar on Monday held wide ranging discussions with Iranian counterpart Hossein Amirabdollahian in Tehran and their discussion focused on the long term framework for India's involvement with the strategically vital Chabahar port and the North-South connectivity project.
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.
Prime Minister Narendra Modi on Saturday unequivocally said that repatriation of black money kept abroad is a "priority" for his government, as he sought close global coordination to achieve this objective.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
'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'
Prabhat Awasthi of Brics Securities also says that they have been positive on banks and that there is still value in public sector banks.
India and China on Monday held a fresh round of military talks with a focus on disengagement of troops in the remaining friction points in eastern Ladakh and ease overall tensions in the region.
India increased its exposure to American government securities to $59.9 billion in October, the highest in four months, notwithstanding uncertainties in the world's largest economy.
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