The Shanghai Cooperation Organisation is still a developing entity and it is essentially due to Russian and Chinese efforts. The moot question is can India benefit by attending it?
India abstained in the United Nations General Assembly on a draft resolution calling for Russia to be held accountable for violations of international law by its invasion of Ukraine and requiring Moscow to pay reparations to Kyiv for damages, loss and injury resulting from the war.
After all, India is the only one among the BRIC nations (Brazil, Russia, India and China) where lending rates are still ruling at their 2008 peaks.
"Yes, if the crisis deepens further and there is greater volatility in financial flows, there is an increased risk of this (currency war) happening," Mukherjee said in response to a question.
Ground reality suggests that someone from the developing world does not stand a chance to emerge victorious.
Prime Minister Manmohan Singh and his Pakistani counterpart Yousuf Raza Gilani on Tuesday exchanged pleasantries, their second informal chat in two days at the Nuclear Security Summit in Seoul.
India would be represented by agriculture minister Sharad Pawar, who arrived in Moscow on Wednesday night on a three-day visit.
The Indian markets have risen 5.2 per cent in the last five days, but Mobius, who has one of the largest exposures to India among Brazil, Russia, India, China (BRIC) countries, says he cannot say the correction is over in the Indian markets.
He said South Africa would like to export more value added products to these countries, according to the daily Business Report.
The BRICS Summit tonight decided to establish the new development bank with an initial authorised capital of $100 billion.
South Africa's Deputy International Relations and Cooperation Minister Marius Fransman said this would give a major boost to some of the development needs of these countries.
Majority of Chinese doubt China's status as a superpower, according to an annual survey which also showed declining trend even among those who believed their country to be the most promising among BRIC (Brazil, Russia, India and China) nations.
In keeping with its increased thrust on new markets, Indian pharma major Ranbaxy said on Friday that it has established a subsidiary in Russia with 120 people to begin
South African President Jacob Zuma thanked Commerce Minister Anand Sharma for India's support in the matter, when the two met here this morning. India had been lobbying for South Africa's inclusion.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
Dr Singh is in the Kazakh capital as part of his two-nation tour, which earlier took him to Sanya in China, where he attended the summit of Brazil-Russia-India-China-South Africa grouping.
Emerging markets are likely to overtake developed countries in terms of international acquisitions in the next two to three years, while India has emerged as the most acquisitive among the emerging nations, a latest study says.
As advanced economies continue to be consumed by the tailback of the economic crisis that struck in 2008, the germ of an alternative model of economic growth seemed to be emerging on the anvil of the BRICS regional grouping that held its fourth summit in Delhi here on Thursday.
The leaders of the Brazil-Russia-India-China-South Africa grouping on Thursday collectively voiced their opposition to the use of force in Libya and pitched for a central role for the United Nations and regional organisations in resolving the matter.Reflecting on the situation in the Middle East and north African countries at the BRICS Summit, Prime Minister Manmohan Singh observed that there was a "shift of power towards ordinary citizens".
Prime Minister Manmohan Singh arrived in Sanya, China on Tuesday at the Phoenix International Airport to attend the BRICS Summit that will see the formal induction of South Africa as the fifth member of the emerging economies group, which already has Brazil, Russia, India and China as members.
The volatile situation in Libya and some other countries in that region, which has caused "uncertainty" with regard to energy supplies and prices, is expected to be discussed at a five-nation summit to be attended by Prime Minister Manmohan Singh in China.
Stock market volatility forced investors across the globe to pull out $24.5 billion from emerging market equity funds in the January-March quarter of 2011, including over $ 2 billion from funds focused on BRIC markets.
With BRIC nations -- Brazil, Russia, India, China and South Africa, calling for ceasefire in Libya, a top Pentagon official on Wednesday said that the onus for this lies with the Gaddafi forces, which needs to pull back its troops from cities and stop attacking civilians.
India's Finance Minister Pranab Mukherjee will arrive in London on Thursday to participate in the two-day G20 Finance Ministers' and Bank Governors' meeting commencing on Friday to discuss the financial crisis.
The rise of BRIC countries represents a fundamental shift in global economy and the developing world needs a legitimate seat at the table so that shared challenges are better addressed, a powerful US Senator has said.
In a study titled Internet's New Billion, the Boston Consulting Group said Brazil, Russia, India, China and Indonesia will have more than 1.2 billion Internet users by 2015 -- well over three times the number of Internet users in Japan and the US combined. In 2009, the BRICI countries had some 610 million Internet users.
In June 2013, the same stood at $ 61.2 billion. In April, the holding stood at $ 68.7 billion.
According to a survey by PricewaterhouseCoopers, titled, US Private Company Trendsetter Barometer, 51 per cent of US private companies with an international presence plan to do business in BRIC countries in the next one to two years.
Manufacturing companies in the BRIC (Brazil, Russia, India and China) nations are optimistic about their growth in the next 12 months on expectations of a strong demand following signs of improving economic conditions, a KPMG survey has said.
The NDB will have an initial authorised capital of $100 billion.
Despite high inflation and interest rates, number of Indians wanting to buy expensive products within the same category, called trading up in retail parlance, is among the highest in the world, says a new study.
Leaders of Brazil. Russia, India and China (BRIC) on Thursday said that they recognised that energy is an essential resource for improving the standard of living of our peoples and that access to it is of paramount importance to economic growth with equity and social inclusion.
Chinese and Russian investors are severely critical of standards among their companies. 46 per cent of India respondents felt that the governance standards were 'good' or 'excellent'.
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.
China appears to have relaxed its practice of giving stapled visas to people hailing from Jammu and Kashmir as it has given proper pasted visas to four journalists from the state.The journalists are part of the media delegation that will travel with Prime Minister Manmohan Singh on Tuesday to Sanya in China for the Brazil-Russia-India-China-South Africa Summit.China had in 2008 started the practice of issuing visas on loose sheets of paper to people from Jammu and Kashmir.
Foreign residents increased their holdings of long-term US securities in May; net purchases were $34.6 billion.
External Affairs Minister S Jaishankar on Wednesday held wide-ranging talks with his Russian counterpart Sergey Lavrov focusing on the Ukraine conflict, bilateral ties and issues relating to the G20 foreign ministers' meeting.
Debt levels of BRIC governments -- Brazil, Russia, India and China -- are likely to remain more or less unchanged during the next five years, while it will rise "dramatically" in the US, Japan, and the UK, says a report.
With the economy slowing down, where does India rank against Brazil, Russia and China?
A decision to tap the 30 countries for exporting wheat was taken at a meeting of the commerce ministry on Thursday.
