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Modi’s Russia and China Bilaterals Strengthen BRICS

India hosted a BRICS summit and its leader, Narendra Modi, met the leaders of Russia and China.

These meetings were important because Russia and China are two major BRICS countries.

India and Russia agreed to strengthen their partnership in areas such as energy, defence, technology, and trade.

They want their trade to grow from about $60 billion to $100 billion by 2030.

India and China also agreed to look at their relationship over the long term.

They said disagreements should not turn into bigger disputes.

However, India still has trade problems with both countries and unresolved concerns with China about the border and exports.

The meetings were seen as helpful for BRICS and potentially important for the global economy.

Key facts

India-Russia trade target: The two countries aim to raise bilateral trade to $100 billion by 2030 from about $60 billion.
Russia cooperation areas: Energy, infrastructure, technology, defence, culture, fertilisers, and civil nuclear cooperation.
Potential Russian defence cooperation: Russian officials indicated possible upgrades to the BrahMos missile system and supply and production of Su-57 aircraft.
India-China relationship: The leaders agreed to take a strategic, long-term perspective and prevent differences from becoming disputes.
India-China trade concern: India faces a structural trade imbalance because of imports of industrial inputs, machinery, and electric components from China.
Border issue: India-China relations have been strained by a border standoff since April 2020, although institutional exchanges have gradually resumed.
Additional China concerns: India remains concerned about Chinese export controls on rare earths, magnets, battery-related products, and technology.

financialexpress.com · 1 hr ago