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NEW DELHI, October 19 (Itar-Tass) - As yet BRICS /Brazil, Russia, India, China, South Africa/ does not have requests from new members, India’s Prime Minister Manmohan Singh told Russian reporters on Saturday.
“South Africa has recently become a member of BRICS, and there are currently no proposals for expanding the grouping further,” he said.
Singh continued saying “President Putin has been the principal architect of the BRICS grouping. This is an important initiative in our multi-polar world. I am delighted that BRICS has become an important international forum for coordination and consultations on pressing economic and political issues of common interest. A number of new initiatives have been undertaken, including the establishment of a New Development Bank with initial subscribed capital of US$ 50 billion, and a contingency reserve arrangement of US$ 100 billion. These are significant measures to promote trade and investment in emerging markets. BRICS countries also meet on the margins of G-20 Summits to coordinate their position on issues being taken up in the Summit. Last month, on the sidelines of the G-20 Summit in St. Petersburg, we held an informal meeting of BRICS leaders.”
Speaking about BRICS’ next summit due in Brazil, the Indian prime minister expressed hope the countries would take forward those decisions.
India’s Prime Minister Manmohan Singh is coming to Moscow on an official visit due on October 20-22. He will have talks with Russia’s President Vladimir Putin on October 21. Summits of the kind have been taking places every other year in Russia and every other year in India.
After the visit to Moscow, the prime minister will pay a visit to China, scheduled for October 22-24, India’s Foreign Ministry said.