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India Wants To Work With BRICS On Fourth Industrial Revolution: PM Modi

India Wants To Work With BRICS On Fourth Industrial Revolution: PM Modi

Modi, who is here to attend the BRICS Summit, met Xi for the third time in almost three months last evening after their two-day informal summit in the Chinese city of Wuhan in late April and a bilateral meeting on the sidelines of the Shanghai Cooperation Organisation Summit in Qingdao, China in June.

Prime Minister Narendra Modi was welcomed by South African President Cyril Ramaphosa after he arrived in the country to attend the BRICS Summit beginning tomorrow.

Chinese President Xi Jinping said Wednesday that the world faces "a choice between cooperation and confrontation" in remarks critical of escalating USA tariffs on goods from China and other major trading partners.

"We are facing a choice between co-operation and confrontation‚ between opening up and closed-door policy and between mutual benefit and a beggar-thy-neighbour approach‚" Xi said. "BRICS has the strategic potential to re-shape world trade".

China's President Xi Jinping inked 15 deals including loans and grants worth millions of dollars with Rwanda on Monday as part of a whistlestop tour to cement relations with African allies.

The meeting of presidents from the trade bloc is the first since Trump's administration launched a push to rebalance trade multilateralism that Trump has deemed unfair - relationships that the United States once championed.

"We should work to reduce administrative barriers to stimulate trade between our countries", Putin said.




He stressed that South Africa was a sovereign country and free to choose whoever it wanted to associate with and that the ties are "not at the exclusion of other countries in the world".

Turkish President Recep Tayyip Erdogan is also attending the summit as the current chair of the Organization of Islamic Cooperation (OIC) and met with Putin on the sidelines Thursday. While in the last two-three years, China has sent a number of quality inspectors to inspect export houses in India, none have passed muster and buffalo meat is still not exported from the country.

"They also want to help fellow Brics countries hold those responsible to account".

African countries are keen to tap into capital, technology and expertise from BRICS countries to promote advanced manufacturing that lies at the heart of economic transformation in the continent.

At that crossroads, Xi suggested leaders should embrace "openness and cooperation", adding "a trade war should be rejected, because there will be no victor".

Analysts say U.S. trade policy could give the group some renewed momentum.

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