The BRICS Summit in Russia

BRICS nations, including India, have disapproved of selective approach to terrorism as Prime Minister Narendra Modi said there should be no discrimination between the sponsors, or groups or targeted nations, in an apparent message to China which recently protected Pakistan at the United Nations from action over release of 26/11 mastermind Zakiur Rehman Lakhvi.The grouping of five major growing economies also rallied behind Russia by opposing the Western sanctions against it over the Ukraine conflict, with PM Modi saying unilateral sanctions are hurting the global economy.The five BRICS countries - Brazil, Russia, India, China and South Africa - pitched for closer economic ties among themselves and pinned hopes on the New Development Bank (NDB) which will begin credit-lending by next financial year.They made it clear that the NDB of BRICS will not compete with Asian Infrastructure and Investment Bank (AIIB), of which all of them are members, but would work in coordination for meeting developmental needs of the member countries.At a Summit meeting in Ufa, the grouping also condemned terrorist activities of the Islamic State and associated terrorist groups."We believe that terrorist threats can be effectively addressed through a comprehensive implementation by states and the international community of all their commitments and obligations arising from all relevant resolutions of the UN Security Council and the UN Global Counter-Terrorism Strategy, said the BRICS Declaration."We call upon all states and the international community to adhere to their commitments and obligations and in this regard to resist political approaches and selective application," it said.Although there was no specific reference to Pakistan, the observation could apply to the country as it has adopted a selective approach towards dealing with terrorism.While addressing the Summit, PM Modi said, Peace and stability is the foundation for social and economic progress.It is our responsibility that we deal effectively with the current challenge of terrorism, he said.With Chinese President Xi Jinping listening, PM Modi said, "We must unitedly fight against it (terrorism), without any discrimination between groups, or countries, sponsors or targeted countries. We must do this in BRICS as well as UN Security Council and in other groups of nations."The remarks assume significance as at a meeting of the UN Sanctions Committee last month, India had sought action against Pakistan for release of Lashkar-e-Taiba operations commander Zaki-ur-Rehman Lakhvi in the 26/11 trial in violation of a UN resolution but China blocked the move on grounds that New Delhi did not provide sufficient information.PM Modi, during a meeting with Xi Jinping on Wednesday evening, voiced concern over this development, amid India's rejection of the weak evidence pretext presented by China.Everyone should follow international rules and norms, the Prime Minister said at the BRICS meet which was attended by Russian President Vladimir Putin, Brazilian President Dilma Rousseff and South African President Jacob Zuma besides Xi."We reiterate our strong condemnation of terrorism in all its forms and manifestations and stress that there can be no justification, whatsoever, for any acts of terrorism, whether based upon ideological, religious, political, racial, ethnic, or any other justification, the Declaration said.The BRICS countries also rallied behind Russia by opposing Western sanctions against Russia over the Ukraine conflict."We condemn unilateral military interventions and economic sanctions in violation of international law and universally recognised norms of international relations."Bearing this in mind, we emphasise the unique importance of the indivisible nature of security, and that no State should strengthen its security at the expense of the security of others," the declaration said.The BRICS countries also voiced concern over the fragile recovery of global growth and the potential spillover effects from the unconventional monetary policies of the developed countries and felt that the BRICS Development Bank will serve as a powerful instrument for financing infrastructure investment.The BRICS Bank will approve its inaugural investment projects in the first quarter of 2016 and will work closely with the China-led AIIB, said the declaration adopted at the Summit of five countries which are members of the AIIB.The Declaration of the BRICS countries said the global growth has witnessed fragile recovery.It said the member countries were concerned about potential spillover effects from the unconventional monetary policies of the advanced economies.At the Summit, PM Modi, who met Indian business leaders, advocated the need for tapping theunique strengths that each member country of the BRICS and developing linkages.He pointed out that BRICS countries together form 44 per cent of the world population, contributing 40 per cent to the global GDP and 18 per cent to the world trade.There are several similarities and resources among the BRICS countries like agriculture, manufacturing, technology, services, human resources, sustainable development, he said, adding the economic cooperation among them would be a driving force for development.He favoured development of a manufacturing chain across the BRICS countries, saying it will help create jobs and benefit all the member nations.We can tap our strengths like skill development, he said, while pitching for a framework for development.Referring to BRICS New Development Bank, the Prime Minister said it should fund projects which have cross-border collaboration among the five member countries.He said the Contingency Reserve Arrangement (CRA) of the BRICS will come into force soon, which will help in bringing about stability in the BRICs economies."I hope the member countries will be able to take benefit of financing arrangements and BRICS arrangement for export credit insurance and innovation," he said."BRICS reassurance pool for big projects is a welcome step. I hope that soon there will be an agreement with Customs Administration. This will be an important step in trade facilitation," he said.He said the BRICS economic strategy to be adopted will be an important milestone in the development of the grouping.