BRICS Summit Live | Modi, Xi endorse LAC pact, okay resumption of bilateral talks

During the bilateral meeting with PM Modi, Chinese President Xi Jinping says, “It’s my great pleasure to meet you in Kazan. It’s the first time for us to have a formal meeting in five years. Both the people in our two countries and the international community are paying great attention to our meeting. China and India are both ancient civilisations, major developing countries, and important members of the Global South. We are both at a crucial phase in our respective modernization endeavours. It best serves the fundamental interests of our two countries and peoples...”

Modi says, “We are having a formal meeting after five years. We believe that the India-China relationship is very important, not only for our people but also for global peace, stability and progress. We welcome the consensus reached on the issues that have arisen in the past four years on the border. Maintaining peace and stability on the border should remain our priority. Mutual trust, mutual respect and mutual sensitivity should remain the basis of our relations.”

Xi says, “...It’s important for both sides to have more communication and cooperation, properly handle our differences and disagreements, and to facilitate each other’s pursuit of development aspirations. It’s also important for both sides to shoulder our international responsibility, set an example for boosting the strength and unity of developing countries and to contribute to promoting multi-polarization and democracy in international relations.”

At the 16th BRICS Summit, Prime Minister Narendra Modi said, “In its new form, BRICS is an economy bigger than 30 trillion dollars. BRICS Business Council and BRICS Women Business Alliance have played a special role in increasing our economic cooperation. The consensus reached within BRICS this year on WTO reforms, trade facilitation in agriculture, resilience supply chains, e-commerce and special economic zones will strengthen our economic cooperation. Among all these initiatives, we should also focus on the interests of small and medium-scale industries. I am happy that the BRICS Startup Forum proposed during India’s chairmanship in 2021 will be launched this year. The Railway Research Network initiative given by India is also playing an important role in increasing logistics and supply chain connectivity between BRICS countries…

“I want to thank President Putin for the successful organisation of the 16th BRICS Summit. I once again heartily welcome the new colleagues associated with BRICS. In its new form, BRICS represents 40% of the world’s humanity and about 30% of the economy. BRICS has achieved many things in the last two decades. I am confident that in the coming times, this organisation will emerge as a more effective medium to face global challenges. I congratulate Dilma Rousseff, President of the New Development Bank. In the past 10 years, this bank has been emerging as an important option for the development of the countries of the Global South. The opening of GIFT City in India has strengthened the activities of this bank... NDB should continue to work on the demand-driven principle and while expanding the bank, priority should be given to ensuring long-term financial sustainable, healthy credit rating and market access…

“Special emphasis is being laid on infrastructure in all the BRICS countries. To rapidly increase multimodal connectivity in India, we have created the Gatishakti portal. This has helped in integrated planning and implementation of these developments and has reduced logistics costs. We will be happy to share our experiences with all of you. We welcome efforts to increase financial integration among BRICS countries. Trading in local currency and easy cross-border payments will strengthen our economic cooperation. The Unified Payment Interface (UPI) created by India is a big success story of India. It has been adopted in many countries. Last year, we also launched it in UAE in collaboration with Sheikh Mohammed. Cooperation can be done in this with other foreign countries as well…

“The BRICS Vaccine R&D Centre launched in 2022 is helping in enhancing the health security of all countries. We will be happy to share India’s successful experience in digital health with BRICS partners. Climate change has been a matter of our common priority. BRICS welcomes the consensus reached for Open Carbon Market Partnership under the chairmanship of Russia. In India too, special emphasis is being laid on green growth, climate-resilient infrastructure and green transition. Initiatives like International Solar Alliance, Coalition for Disaster Resilient Infrastructure, ‘Ek Ped Maa Ke Naam’ have been taken. Last year during COP 28, we started an important initiative like Green Credits. I invite BRICS partners to join these initiatives…

“India is fully committed to increasing cooperation under the BRICS. Our belief in our diversity and multipolarity is our strength. This strength of ours and our shared belief in humanity will help in giving a meaningful shape to the prosperous and strong future of our future generations. I extend my heartfelt best wishes to Brazil President Lula as the next President of the BRICS. India will give its full support to you for the success of your BRICS presidency...”

Chinese President Xi Jinping said at the plenary session of the BRICS summit that the need of the hour was to build a peaceful BRICS. “The world has entered a new period of turbulent change. We need to build a peaceful BRICS, be the guardian of common security,” Xi said, according to Reuters.

On Gaza and Lebanon crises, he said, “We need to push for a ceasefire”, while on the Ukraine crisis, he said, “We need to push for the situation to de-escalate as soon as possible”, reported Reuters.

He reportedly added that China was willing to expand green industry, clean energy and green mineral cooperation with BRICS countries. The country will set up 10 overseas study centres in BRICS countries over the next five years, reported Reuters.