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“India should avoid divisions among BRICS”: Report

India should shed its “long-standing bias against China” and avoid divisions among the five-member BRICS bloc specially in the backdrop of US attempts to rewrite international rules, a Chinese media report said today.

“India should focus on how to improve solidarity within BRICS, especially to overcome its long-standing bias against China due to historical reasons. New Delhi believes that Beijing should reflect on why it is always misunderstood by its neighbouring countries. But India also needs reflection,” an article in the state-run Global Times said today.

“Currently, divisions in monetary policy are particularly sharp among major economies. After the Federal Reserve Board raised interest rates, emerging economies including BRICS are seeing capital outflows. Meanwhile, geopolitical competition in the Middle East and Europe, as well as rising terrorism threats, is influencing the world economy, to which BRICS is not immune,” it said.

India which took over the BRICS — Brazil, Russia, India, China and South Africa — Presidency is scheduled to host the summit of the bloc later this year which is likely to be attended by Chinese President Xi Jinping.

Today’s article came ahead of the G20 Finance Ministers meeting starting in Shanghai tomorrow.

Additional Finance Secretary Dinesh Sharma and RBI Governor Raghuram Rajan were scheduled to attend the meeting.

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