PM Modi meets Xi Jinping, Vladimir Putin to give ties further boost

Xi at BRICS Summit in Johannesburg July 25

Brazil, Russia, India, China, and South Africa are collectively known as the Brics countries and South Africa hosted a summit for these countries this week in Sandton, Johannesburg.

In his address to the BRICS summit (comprising Brazil, Russia, India, China and South Africa), Modi had reaffirmed India's commitment to multilateralism, global trade and a rules-based world order.

"A global trade war should be rejected because there will be no victor", said Xi, who oversees the world's second-largest economy, and whose nation is dominant in the BRICS bloc.

Stating that Industry 4.0 will make the world flatter, the Prime Minister said that many deprived classes will be able to make big leaps with the help of technology and development.

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 which the United States once championed.

The BRICS-Africa Outreach and BRICS-Plus Initiative will be held tomorrow. If you look at Russian economy it's really limping.

On Wednesday, Xi said there would be no victor in a global trade war.

This is according to political analyst Somadoda Fikeni who yesterday said investment deals would provide much-needed jobs for many people.

Russian President Vladimir Putin said, "In 2017, the trade with Brics countries has grown by 30 percent and we are aiming at developing this kind of partnership".

He called on the two sides to strengthen strategic communication, increase mutual trust, promote practical cooperation, as well as cultural and people-to-people exchanges, strengthen dialogue and properly manage differences, it said. At the same time, he said it is hard to say what effect this will have amid growing inequalities, a fast changing society and human values.

BRICS leaders and business delegates, including members of the BRICS Business Council, are present at the opening session of the summit, which is expected to rally behind concerted efforts to revitalize Africa's industrialisation agenda.

"South Africa, and Africa more broadly, can benefit from increasing exports to fast growing countries like India and China". The 2018 Summit will be a seminal milestone for BRICS cooperation, as it represents a decade of BRICS cooperation at the highest diplomatic level. "The truth is that Prime Minister Modi meets the Chinese president on the sidelines of the BRICS summit and holds talks, but forgets to talk about Doklam".

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