Modi fails to gain BRICS support against Pakistan


Benaulim, India—Chinese President Xi Jinping said Sunday a rising tide of protectionism and anti-globalisation was endangering the world economy´s still fragile recovery as BRICS leaders vowed to forge closer business and trade ties.
At a summit in the Indian tourist hub of Goa, host Prime Minister Narendra Modi and the leaders of China, Russia, Brazil and South Africa issued a joint declaration on a range of measures, including the setting-up of a new credit ratings agency and fighting tax evasion.
They also agreed to work together to combat “cross-border” terrorism, but Modi´s guests held off from signing up to his fierce condemnation of India´s archrival Pakistan as the “mothership of terrorism”.
Both Xi and Modi said the group must stick together, insisting there was much to remain positive about even though its members have been beset by domestic woes and problems sparked by the 2008 financial crisis.
“At present the deep-seated impact of the international financial crisis is still unfolding. The global economy is still going through a treacherous recovery and deep adjustments,” Xi said.
The Chinese president said “deep-seated imbalances that triggered the financial crisis” were far from being resolved.
“Some countries are getting more inward-looking in their policies. Protectionism is rising and forces against globalisation are posing an emerging risk,” he added.
Modi said it was vital the BRICS nations increased cooperation by dismantling trade barriers and developing infrastructure.
“I think I speak for all when I say that through a common vision and collective action, we will create and sustain deeper bonds among BRICS nations, develop our economies and secure our societies,” he said.
“While our achievements have been substantial, we need to sustain the positive direction and strong momentum of intra-BRICS engagement.”
Xi said BRICS countries had much to be proud of and had contributed to more than 50 percent of global growth in the last decade.
“The past decade has seen BRICS partnership expanding with win-win results,” he said.
“We need to deepen our partnership: we BRICS countries are good friends, brothers and partners that treat each other with sincerity.”
Russian President Vladimir Putin meanwhile called for closer cooperation in areas such as e-commerce and space exploration.
Modi confirmed that the leaders had agreed to fast-track setting up a new ratings agency amid accusations from within the bloc that the three traditional agencies — Moody´s, Standard & Poor´s and Fitch Ratings — are all Western-based.
“We look forward to translating into reality the idea of a BRICS Credit Rating Agency,” he said, without giving details of the much-trailed agency or timeline for its establishment.
Modi, who is pushing to isolate Pakistan following a surge in tensions between the nuclear-armed neighbours, urged his peers to take a strong united stand against Pakistan.
But with China reluctant to embarrass its traditional allies in Islamabad, a joint statement at the end of the summit only referred to a vague goal of combating “cross-border terrorism and its supporters”.
Prime Minister Narendra Modi urged BRICS to take a strong united stand against the “mothership of terrorism” in the South Asian region, in a thinly veiled reference to Pakistan.
Modi said a country in India’s neighbourhood held links to “terror modules” around the world, which BRICS — a bloc consisting of Brazil, Russia, India, China and South Africa — should strongly condemn.
“In our region, terrorism poses a grave threat to peace, security and development.”
“Tragically the mothership of terrorism is a country in India’s neighbourhood,” Modi said without naming Pakistan.
“Terror modules around the world are linked to this mothership. This country shelters not just terrorists. It nurtures a mindset. A mindset that loudly proclaims that terrorism is justified for political gains.”
“It is a mindset we strongly condemn. And against which we as BRICS need to stand and act together. BRICS must speak in one voice against this threat,” he said.
Modi has been using the BRICS summit an an attempt to isolate Pakistan following a surge in tensions between the two countries. Chinese President Xi Jinping warned that the global economy remained in precarious condition as leaders of the BRICS group of nations tried to find ways to fire up growth in the troubled bloc.
Xi told his host Modi and other BRICS leaders that the club of emerging powers had been undermined by both domestic and international woes.—Agencies