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.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
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.
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.
China's foreign ministry on Monday parried questions on a possible meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit in Russia this week.
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.
The Galwan clash occurred six months after the Doklam disengagement and two high-profile meetings. India should not be caught by surprise once again, asserts former foreign secretary Shyam Saran.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
In a joint declaration issued after the 16th BRICS Summit in the Russian city of Kazan attended by Prime Minister Narendra Modi and Chinese President Xi Jinping, among others, the leaders reiterated unequivocal condemnation of terrorism in all its forms and manifestations while reaffirming that it should not be associated with any religion, nationality, civilisation or ethnic group.
If China is accommodating regarding Depsang and Demchok, a resolution of the Sino-India territorial dispute in Eastern Ladakh could be possible.
The Meeting of BRICS and BRICS Plus High-Level Security Officials is scheduled to be held in St Petersburg from September 10-12.
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.
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.
In the talks, Putin hoped that Prime Minister Narendra Modi will travel to Russia's Kazan next month to attend the annual BRICS summit.
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.
"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.
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.
Russian President Vladimir Putin on Tuesday thanked Prime Minister Narendra Modi for trying to help find a peaceful solution to the Ukraine crisis.
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.
China and India, it says, will register the world's biggest increases in defence spending through 2030, measured by percentage, says Washington-based 'Defence News'.
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.
"We will examine the latest developments and make a determination about our future engagement with BRICS," Baloch said.
China on Thursday said Beijing views the BRICS as an "open and inclusive" platform and it backs moves to expand the five-member grouping with "like-minded partners".
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have been invited to join the grouping.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
'Victims of terrorism do not sit together with its perpetrators to discuss terrorism.'
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
National Security Advisor Ajit Doval held a meeting with top Chinese diplomat Wang Yi during which he emphasised the need for continuing efforts to restore peace and tranquillity in the border areas to remove the 'impediments' to normalcy in bilateral relations.
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.
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.
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.
In his conversation with Prime Minister Narendra Modi, President Xi Jinping stressed that improving China-India relations serves common interests and is conducive to peace and stability of the region and the world.
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.
India has not yet received any confirmation on Chinese President Xi Jinping's in-person participation at the upcoming G20 summit, people familiar with the matter said on Thursday amid reports that he is likely skip the conclave.
Indian troops are defending every inch of the border with China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (retd) B D Mishra said on Thursday.
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.
Russian news agency TASS, quoting a Kremlin official, said holding of the RIC (Russia-India-China) summit figured in during a recent video conference between President Vladimir Putin and his Chinese counterpart Xi Jinping.
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.
