India

Next BRICS Summit To Be Held in India

BeyondHeadlines News Desk

New Delhi: India will host the next BRICS (Brazil, Russia, India, China and South Africa) summit, which will be held in 2012. This announcement was today made by Prime Minister Manmohan Singh.

“I have invited the BRICS leaders to India for the next BRICS Summit in 2012, and I am happy that they have accepted my invitation,” the Prime Minister said.

He told the media that the quality and durability of the global economic recovery process depends to a great measure on how the BRICS economies performed. “We have reason to be satisfied with the management of our economies, but there is no room for complacency. The developments in West Asia and North Africa and the aftermath of the huge tragedy that befell Japan have introduced fresh uncertainties in the global recovery process.”

Singh said that India reaffirmed its commitment to a balanced and ambitious outcome to the Doha round of WTO negotiations. India would continue to engage with its partners to facilitate a rule-based multilateral trade regime which is fair, equitable and addresses the development agenda effectively, he added.

“Our economy is more open and more connected to the world than it has been in the past. Our financial and capital markets are sound, and eager to absorb foreign direct investment. We have put in place ambitious schemes for the social and infrastructure sectors which have begun to bear fruit,” the prime minister said.

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