Chief Economic Adviser V Anantha Nageswaran on Wednesday said that the country is not pursuing any proposal to replace the US dollar as international currency for global trade. "No, certainly not. I think India is not part of any such initiative," he said in response to a question if India is looking at an alternative currency to the US dollar for global trade.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
External Affairs Minister S Jaishankar has called on Brazil, Russia, India, China, South Africa (BRICS) to defend the multilateral trading system amid increasing protectionism and tariff volatility during a meeting of the bloc's foreign ministers in New York on the sidelines of the United Nations General Assembly session.
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
President Donald Trump on Tuesday claimed that BRICS was established to "hurt" the US and "degenerate" the dollar as he warned that the member countries of the bloc would face a 10 per cent tariff. Trump made the remarks while talking to reporters at the sixth Cabinet meeting at the White House.
Prime Minister Narendra Modi and Chinese President Xi Jinping will hold bilateral talks on Wednesday on the margins of the Brazil, Russia, India, China, South Africa (BRICS) summit in Russia, in their first structured meeting since the eastern Ladakh border row erupted in May 2020.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
China has expressed its support for Russia's initiative to revive the Russia-India-China (RIC) troika, emphasizing its importance for regional and global security and stability.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
United States President Donald Trump has once again held out the threat of tariffs to BRICS (Brazil, Russia, India, China, South Africa) nations if they try to replace the US Dollar with any other currency.
India's External Affairs Minister S Jaishankar has stated that the US administration under President Donald Trump is moving towards multipolarity, which aligns with India's interests. He also revealed that India and the US have reached an agreement on the need for a bilateral trade pact. Jaishankar touched upon various foreign policy issues including India's role in the Russia-Ukraine conflict, the trajectory of the BRICS grouping, and relations with China during a session at the Chatham House think-tank in London.
The Meeting of BRICS and BRICS Plus High-Level Security Officials is scheduled to be held in St Petersburg from September 10-12.
Five fastest growing economies, including India, on Wednesday vowed to oppose trade protectionism as they agreed to coordinate their positions in the multilateral fora, including the G-20 and climate change negotiations, to uphold the interests of developing countries.
The BRICS states need to pin down China on long-term norm-based values, ideas and concrete proposals and programmes for the mutual benefit of the constituent member states.
Contentious boundary issue and ways to boost bilateral ties were among the issues which figured during discussions between National Security Advisor Shivshankar Menon and China's chief negotiator Dai Bingguo in New Delhi on Friday.
Prime Minister Narendra Modi and Chinese President Xi Jinping were on Thursday seen having brief exchanges ahead of a media briefing by the BRICS (Brazil-Russia-India-China-South Africa) leaders in Johannesburg.
Amid worldwide alarm over a radiation scare in Japan following the tsunami, India and other nations from the Brazil-Russia-India-China-South Africa group on Thursday pressed for strict adherence to safety norms with regard to nuclear facilities and a proposal was floated for mutual assistance in similar incidents.
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".
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.
Despite the slowdown, India's population of rich is growing. The country saw 120 more individuals join the exclusive club.
In the talks, Putin hoped that Prime Minister Narendra Modi will travel to Russia's Kazan next month to attend the annual BRICS summit.
The situation along the Line of Actual Control (LAC) in eastern Ladakh is stable but sensitive and not normal, Chief of Army Staff General Upendra Dwivedi said on Tuesday on the dragging military standoff between China and India in the region.
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.
has been discussed at the highest level when the Prime Minister met Chinese President in Hanoi in October last.
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.
Prime Minister Narendra Modi on Tuesday conveyed to Russian President Vladimir Putin that India stands ready to provide all possible cooperation towards ending the Russia-Ukraine conflict and that dialogue and diplomacy is the only way to bring peace to the region.
China on Tuesday confirmed that it has reached an agreement with India to end the standoff between the two armies in eastern Ladakh.
Army Chief General Upendra Dwivedi Monday said there is still a 'degree' of standoff between the Indian and Chinese militaries along the Line of Actual Control in eastern Ladakh and both sides need to sit down and firm up a broader understanding on how to calm down the situation.
"We are waiting for our good friend Modi and best regards to him," the Russian media quoted Putin as saying in the meeting with Doval.
In the meeting, Doval conveyed to Wang that peace and tranquillity in border areas and respect for the Line of Actual Control are essential for return of normalcy in bilateral ties, according to the ministry of external affairs.
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 supports dialogue and diplomacy and not war, Prime Minister Narendra Modi said at the Brazil, Russia, India, China, South Africa (BRICS) Summit in Kazan, Russia on Wednesday, in an unambiguous message calling for resolution of the Russia-Ukraine conflict through peaceful negotiations.
'Victims of terrorism do not sit together with its perpetrators to discuss terrorism.'
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.
In August, the top BRICS leaders at the grouping's summit in Johannesburg approved a proposal to admit six countries, including Argentina, into the bloc with effect from January 1.
Prime Minister Narendra Modi conveyed to Chinese President Xi Jinping India's concerns on the "unresolved" issues along Line of Actual Control (LAC) in eastern Ladakh during a conversation on the sidelines of the BRICS summit, Foreign Secretary Vinay Mohan Kwatra said on Thursday.
The meeting will be attended by Russian President Vladimir Putin, Chinese President Xi Jinping, South African President Cyril Ramaphosa and Brazil's Jair Bolsonaro, according to the MEA.
The Ministry of External Affairs (MEA) on Friday said Modi will lead the Indian delegation at the summit. "The prime minister will lead the Indian delegation to the 20th summit of the SCO council of heads of state which will be held in the virtual format on Nov 10. The meeting will be chaired by Russian President Vladimir Putin," MEA Spokesperson Anurag Srivastava said.
Preceding the two-day plenary of the 48-member NSG, which began on Thursday, China had repeatedly said that India's membership was not on the agenda and is said to have made every effort to prevent any discussion on India's bid.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
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