King pigeon pose ahead? Putin tells Indian PM: I’ll try yoga

South Africa President Jacob Juma, Russian President Vladimir Putin, Brazilian president Dilma Rousseff also attending the BRICS summit besides Modi and Xi.

“It is expected that the start of the organization expansion will be announced at the summit due to take place in Ufa”, – Kobyakov said.

“I think that Rosneft projects will clearly be interesting for the financial development institutions that are created”, he said, in response to a question from journalists about whether the state oil giant could receive funding. He is scheduled to attend a meeting in Ufa, Russia, with other BRICS representatives.

“India attaches high importance to BRICS”.

Finance Minister Arun Jaitley has left for Russian Federation this evening to participate in the inaugural meeting of the BRICS-backed New Development Bank.

“The membership of India and Pakistan in the SCO will be finalised by the next meeting of the leaders in 2016 in India”, Ushakov added.

As of now, India has observer status in the 19-year-old grouping whose focus is on boosting connectivity, counter-terrorism cooperation, bolstering cooperation in energy sector, enhancing trade and dealing with drug trafficking.

Despite fruitful achievements, the SCO is still facing various security challenges and threats, such as the unstable situation in Afghanistan and growing activities of the Islamic State terrorist group in the region. Pakistan also is an observer and is likely to be made a member.

But considering the fact that Greece bailed on a roughly $2 billion loan from the global Monetary Fund, a loan in which some of the BRICS, but their membership in the IMF IMF, aren’t getting paid back, Russian Federation is essentially calling a sub-sub prime borrower to siphon off money that the BRICS could surely use themselves.

India released 88 Pakistani fishermen while Pakistan freed 111 Indian fishermen. This support has been convened to Pakistan from level of top Chinese leadership.

The presidency said heads of state had asked their finance ministers and central bank governors to ensure that by the time they begin meeting in Ufa, the Dollars 100 billion Contingent Reserve Arrangement working group had finalised the rules and operational guidelines of the governing council and standing committee of the CRA, and to conclude an Inter-Central Bank Agreement.

Ties have suffered a setback recently over China’s proposed $46bn (£30bn) economic corridor through Pakistan-administered Kashmir.