BRICS summit earlier this month saw India finally unveil the
much hyped strong , futuristic
leadership that has been handed reins of the nation for the next 60 months ,
and witnesses swear by their dearest possessions that never before had they saw
India provide such a positive vision , spearheading historical advents , under
the charismatic leadership of PM Narendra Modi . If we go by world political
pundits , India has announced itself big this summit . Here are some important
striking points of the summit :
BRICS Bank : How the PM got major world powers back his ideas
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| BRICS leaders . |
It all began in 2010 , when the then BRIC leaders brought up
the “legitimacy deficit” of institutions like IMF and the World Bank , seeking
change in voting powers of emerging powers
. This continued in 2011 , China , when
the topic of reserve international currency among the BRICS (South Africa being
a part now ) , was brought up . 2012 was
the turning point when the discussion on “operational modularity” of such an
institution was taken up for discussion .
But ,ever since head blocks continued to exist , the major one being with the location of the
Bank with Delhi and Shanghai competing for the same . A major breakthrough was
achieved this time round , with PM Modi allowing Shanghai to host the same ,
with India leading the Bank for the initial six years . This is seen as a major
diplomatic gain for the PMO .PM meets Chinese President Xi Jiping at Fortaleza
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| PM with the Chinese President |
In a first bilateral meet lasting about 80-minutes , the PM
laid out a clear vision of sustainable economic growth between the Asian giants
. There were also talks to settle the border dispute in a mutually agreeable , peaceful
manner , adding that the growing powers must send a message by example of
peaceful conflict
resolution . Also , another Kailash-Mansarovar route ,
keeping in mind the terrain adversities , was added as a suggestion . The PM
pressed for higher Chinese investment in the infrastructure sector . President
Jiping suggested service export from India as a way to stabilize the highly
imbalanced trade model in the Indo-China channel . China also invited India to
the APEC summit , and expressed interest in greater Indian involvement in the
Shanghai Cooperation Organization . The PM also expressed interest to make the
upcoming India visit of the President a major step forward to greater Indo-Chin
ties .PM meets Russian President Vladimir Putin at Fortaleza
The meet marked the PM hailing Russian support to India’s
cause in the international arena since days as
early as independence . Greater and deeper ties in several fields were also discussed . The President was invited to visit the Kudankulam reactor , having a major Russian investment . The Pm described India-Russia ties to have stood the test of time and pinned hopes for drawing a broad road-map for mutually benefiting and stronger ties in the upcoming bilateral meet later this year .
PM meets Brazilian President Dilma Rousseff at Brasilia
In a unplanned round of bilateral talks , the PM was hosted
by the Brazilian President wherein several important developments took place .
The key developments were : Signing of MOU for better environmental
co-operation ; Implementing arrangements establishing cooperation in
augmentation of a Brazilian Earth center for receiving and processing data from
Indian Remote Sensing (IRS) satellites .Also another MOU was signed for
cooperation in field of mobility and consular issues
In short , PM Modi’s first ever multi-lateral summit as the
Prime Minister indeed resulted India “Standing tall in the World Stage “ .
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