The upcoming BRICS meet at Xiamen in China is considered to be important card for India to revive its economic ties with china.
India has to face many challenges to get benefited from the meet.
What is the importance of BRICS?
The valuation of the BRICS grouping that represents 40% of the world’s population and a quarter of its growth at $17 trillion.
The group of emerging economies had been bolstered by the formation of the BRIC group with a declared objective of battling “Western hegemony”.
It is seen as the potential of the combined political influence of India and China.
The BRICS New Development Bank set up in 2015 has already given out about $6 billion in loans for 23 projects across BRICS countries.
What are the significance of the Xiamen meet?
The Doklam tensions casted a significant shadow over economic ties between both countries.
Thus this meet gains global importance as two rivals meet after the standoff.
Economic ties have been one of the main drivers of bilateral relations between China and India.
The future of BRICS itself based on India and China’s revival of ties.
What are the challenges for India in this meet?
The Nuclear Suppliers Group membership for India, terrorism, the Dalai Lama and others are likely to dominate discussions at BRICS as it now underpins all of China’s other policies.
India’s refusal to be a part of the BRI over sovereignty issues will be a pulling factor over the meet.
China’s plan for a “BRICS-Plus” or “Friends of BRICS” grouping, a plan to include Pakistan, Sri Lanka and Mexico to an expanded version of BRICS is distressing India.
India cannot to be opposing China’s rationale of promoting “south-south cooperation” further.
Russia’s closer ties with China will affect the language of the joint statement especially on Afghanistan, this will hurt India’s interest.
