Mumbai, September 10 (Daily Kiran) : China’s President Xi Jinping is set to visit India for the BRICS summit, a trip that is deemed highly significant for both trade and political relations. Vijay Kalantari, Chairman of the World Trade Center Mumbai, emphasized the importance of this visit, noting that China is India’s largest trading partner, with bilateral trade exceeding $160 billion. However, this relationship also comes with a trade deficit of over $50 billion.
Kalantari stated, “President Xi is coming to India at the invitation of our Prime Minister. His presence at the BRICS Conference symbolizes unity among the member countries. We believe that trade within BRICS should increase. The BRICS Bank, located in China, plays a significant role in this context. China is our largest trading partner, yet they do not import as much from us. We are striving to enhance our trade with them. Engagement with China is crucial for India, both politically and commercially. We also have border disputes that will be addressed during President Xi’s visit.”
He further mentioned that leaders from 12 countries would be attending the summit, highlighting BRICS as a major coalition. “BRICS was formed to reduce dependence on European nations and North America. We have increased trade among ourselves,” he added.
Foreign affairs expert Dr. Shailendra K. Deolankar remarked that this visit marks a pivotal moment, as Xi will be in India for the first time in six years. The meeting will also include leaders from Russia and India, creating a significant geopolitical dynamic. “The global energy supply chain is largely controlled by Russia, which accounts for 10% of the world’s crude oil production. Meanwhile, China dominates the supply chain of rare minerals, and India is a key player in services, human resources, and pharmaceuticals. The convergence of these three nations will be a crucial and decisive event,” he stated.
Dr. Deolankar highlighted India’s unique position in maintaining a diplomatic balance, emphasizing the need for autonomy in foreign policy decisions. “We aim to advance our economic and trade interests while balancing relations with the U.S., Russia, Ukraine, Iran, and Israel,” he explained.
In response to queries from Congress leader P. Chidambaram regarding the BRICS summit, fellow Congress member Harish Rawat acknowledged the relevance of these questions. “Chidambaram is an economist and has been involved in these matters. BRICS did not emerge overnight. I participated in the meeting of agricultural ministers in China when I was the Minister of State for Agriculture in India. This platform includes both developing and developed countries like China, Russia, India, South Africa, and Brazil,” Rawat noted.
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