New Delhi, September 11 (Daily Kiran) : The BRICS summit has drawn attention both nationally and internationally, with New Delhi at the center of discussions. Prime Minister Narendra Modi’s upcoming bilateral talks with Russian President Vladimir Putin, along with potential discussions involving China and Iran, have heightened interest. The focus is also on strengthening trade and payment systems among BRICS nations.
BJP leader Gaurav Vallabh criticized the opposition for adopting a negative stance regarding India’s global achievements. He asserted that BRICS offers India more than just an international platform; it presents opportunities for trade, investment, employment, and strategic collaboration.
Vallabh specifically addressed comments made by Salman Khurshid about BRICS, urging opposition leaders to recognize the benefits India has gained. He highlighted that the BRICS Bank has funded 32 projects in India, amounting to approximately ₹91,000 crore. Furthermore, India’s exports to BRICS countries have surged to $95.7 billion. He pointed out that exports to the UAE alone have increased by 125% over the past five years, reaching $37.4 billion.
He recalled the collective condemnation of the Pahalgam terrorist incident during last year’s BRICS summit in Rio. Vallabh appealed to the opposition to rise above political differences and view such forums through the lens of national interest. He also made strong political remarks, suggesting that some opposition leaders struggle to accept India’s international acclaim.
Regarding the anticipated meeting between Modi and Putin, Vallabh noted significant potential for collaboration in defense, aerospace, chemicals, fertilizers, and space sectors. He emphasized that Russia possesses the necessary technology and expertise, while India boasts a growing defense manufacturing infrastructure, intellectual capital, and a youthful population. India’s defense production is projected to reach nearly ₹1.75 lakh crore in the fiscal year 2025-26, up from around ₹40,000 crore in 2014.
Vallabh expressed optimism that discussions between Modi and Putin would yield positive outcomes that benefit both nations’ economies. He also mentioned potential cooperation in rare earth minerals. However, he cautioned against speculating on the exact decisions made during the bilateral meeting, urging patience for the results to unfold.
On the possible dialogues with China and Iran, Vallabh reiterated that India’s foreign policy prioritizes national interest. He stated that India respects the sovereignty of all nations and bases its foreign policy decisions on national interests. He emphasized the necessity for dialogue between India and China, suggesting that BRICS could facilitate discussions on economic and bilateral issues.
Vallabh noted that India is already engaging in trade settlements in local currencies with several countries, particularly highlighting the significant trade with Russia through the rupee-ruble arrangement. He mentioned the trade agreement with the UAE involving the rupee and dirham. This approach, he argued, could alleviate pressure on foreign currency reserves and help manage economic pressures related to the current account deficit.
He stressed that discussions at BRICS should not only focus on large nations and corporations but also prioritize making it easier for India’s MSME and SME sectors to access international markets. Vallabh called for the development of common standards for products among BRICS nations to minimize technical and regulatory barriers during trade. He expressed hope that the summit would lead to concrete discussions on local currency trade, new markets for MSMEs, common product standards, and payment settlements.
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