BRICS: India should still beware the dragon

Prime Minister Narendra Modi's call for greater emphasis on economic cooperation among BRICS allies is a clarion call for peace and development. PM Modi also said trade between the allied countries needed to be done in local currency.

Although conflicts may sometimes provide temporary unilateral gains, in the long run, they could bruise that nation by large. Russia has plans to open up new trade opportunities in the Arctic region. It requires the participation of China and India. It is virtually ludicrous to give away massive business opportunities in the name of skirmishes that took place a few years ago. Anticipating this, Russia played a major role in easing tensions between India and China.

The tug of war in the ASEAN countries will only benefit the Western superpower. The Modi-Xi meeting at the summit is proof of China coming to terms with this reality. The two leaders also agreed to end troop deployment and resume patrolling along the eastern Ladakh border. The two leaders also directed that special representatives Ajit Doval and Wang Yi discuss the next steps. After the meeting, Xi Jinping confirmed that the dispute with India had been resolved, much to the delight of all those seeking peace and stability.

However, during his speech at the BRICS summit, Modi did not go into the causes of the conflicts. Rehashing yesterday's arguments will only make further communication difficult. Experts believe India's diplomatic stance has been successful at the BRICS summit. At the same time, Modi also clarified in the plenary session that India does not support war, but will only encourage discussions. PM Modi also demanded some countries keep aside their double standards when it comes to eradicating terrorism. This was an implicit attack aimed at the US and Pakistan.

PM Modi also asked global institutions like the United Nations Security Council, World Bank and World Trade Organization to make themselves open to an overhaul in these changing times. The BRICS summit was a success for India but it would be too early to judge Indo-China relations. The current detente was imperative but it would be silly to assume that the strained relationship has been restored fully. It is not.

China is known for their volte-face immediately after striking friendship with a foreign country. India will have to tread a fine line with the dragon.