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What to expect from PM Modi's BRICS visit
The Prime Minister is scheduled to participate in the 11th Brazil-Russia-India-China-South Africa (BRICS) summit being held in Brazil starting Wednesday.
New Delhi: The Prime Minister is scheduled to participate in the 11th Brazil-Russia-India-China-South Africa (BRICS) summit being held in Brazil starting Wednesday. Brazil is the current chair of the group which represents more 3.6 billion people, or half of the world population with a combined nominal GDP of $16.6 trillion combined together. This is the PM's 6th visit to the BRICS summit.
Here are the key takeaways that can be expected from the visit:
PM Modi is scheduled to meet Chinese President Xi Jinping a little more than a week after India pulled out of the Regional Comprehensive Economic Partnership(RCEP) trade deal for varied reasons. This is a month after they met in Mamallapuram, Chennai where the leaders decided to set up a ministerial group headed by finance minister Nirmala Sitharaman from India and China's Vice Premier Hu Chunhua to discuss trade, investment and services. The dates for this meeting between the two leaders are yet to be announced. India had worried that joining the RCEP would allow for more Chinese goods to enter India. Modi's visit to Brazil comes amidst media reports that Bolsonaro could be the chief guest at India's Republic Day celebrations in January 2020.
At the end of the meet, a BRICS MoU between Trade and Investment Promotion Agencies is expected to be signed that will lay out the future road map for cooperation among the five countries.
Countering terrorism is also set to be a key point of discussion at the meet. PM Modi's departure statement said the five countries will aim to "build mechanisms for counter-terrorism cooperation within the BRICS framework.
