Seoul Gazette - China, Russia, India seek economic cooperation at BRICS

Indian Prime Minister Narendra Modi called for "cooperation" within the bloc, which he has said represents "50 percent of the world's population, 40 percent of global GDP and more than 25 percent of global trade".

"The power of BRICS lies in our diversity and cooperation," Modi told leaders, including Chinese President Xi Jinping and Russian President Vladimir Putin, on the final day of talks.

BRICS was created in 2009 as a forum for major emerging economies seeking greater influence in institutions dominated by Western powers. The group is seeking to bolster its global influence and address conflict, trade turbulence and energy security.

"We have tried to push inclusive global growth," Modi said.

"We may be rooted in different realities, but together we rise through cooperation and blossom for humanity," he said.

- 'Maximum restraint' -

The first day of the summit on Saturday was dominated by the conflict in the Middle East.

BRICS foreign ministers had failed to agree on a joint statement in New Delhi in May, with Iran, Saudi Arabia and the United Arab Emirates divided over the war that began with US-Israeli strikes on February 28.

However, leaders -- who also included Iranian President Masoud Pezeshkian -- issued a statement after intense diplomatic efforts by host India.

"We express deep concern over the continued escalation of tensions in Middle East/West Asia," the joint statement said, adding that the BRICS countries "call for exercising maximum restraint".

Modi maintains cordial relations with both Iran and US ally Israel, but is also careful to strike a delicate balance in India's ties with Washington.

India has navigated the energy crisis caused by the US-Iran war in part by turning to Russia, despite Moscow's war in Ukraine and pressure from Washington and other Western capitals.

- 'Advancing together' -

Xi's participation in BRICS is also important because it is his first visit to neighbouring India since 2019, and the biggest step yet in a cautious thaw between the nuclear-armed rivals.

His visit comes six years after a deadly military clash along the disputed Tibetan border between China and India, with ties gradually improving through restored flights, visas and high-level contacts.

"Although our two countries are different in many respects, they are fully capable of complementing each other's strengths, supporting one another, achieving mutual success and advancing together," Xi said as he met Modi, according to a video released by New Delhi.

The underlying territorial dispute remains unresolved, and both sides retain heavy military deployments along their roughly 3,500-kilometre (2,175-mile) high-altitude border.

India's foreign ministry said in a statement after the meeting that "the two leaders expressed commitment to a fair, reasonable, and mutually acceptable resolution of the boundary question".

Deep mistrust remains, with a widening trade deficit and strategic rivalry complicating ties.

"Both sides should... work hand-in-hand to promote high-quality major financial cooperation, advocate an equal and sustainable global order, and foster an economic globalisation that is open and inclusive," Xi said.

Xi's visit was the target of protests by dozens of Tibetans in New Delhi, exiles like their Buddhist leader, the Dalai Lama, who has lived in India since fleeing a Chinese crackdown in 1959.

A.Kim--SG