Prime Minister Narendra Modi hosts the *BRICS* leaders of Brazil, Russia, China and South Africa in the coastal Indian state of Goa on Oct 15-16, he has invited BIMSTEC leaders -- including Myanmar's Aung San Suu Kyi -- for a parallel "outreach" meeting observers say is symbolic. The obscure acronym (BIMSTEC), which stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, includes India, Bangladesh, Nepal, Bhutan, Sri Lanka, Myanmar and Thailand. The grouping is notable mainly for who it excludes: India’s nuclear arch-rival Pakistan.
With Russian President Vladmir Putin headed for India to attend the BRICS Summit in Goa, the S-400 <http://timesofindia.indiatimes.com/topic/S-400> deal worth Rs.39,000 crores. Prime Minister Narendra Modi <http://www.firstpost.com/topic/person/narendra-modi-profile-20711.html> and Russian president Vladimir Putin are expected to sign the crucial agreement for the production of 200 Kamov 226T helicopters domestically (by HAL-Bangalore) on the sidelines of the Brics summit from 13 to 16 October in Goa. Kamov 226T will replace the aging Cheetah and Chetak choppers. The joint venture for helicopters to be established between defence PSU Hindustan Aeronautics and Russian Rostec State Corporation. The annual BRICS (Brazil, Russia, India, China and South Africa) summit in Goa on October 15-16 is undeniably the main course but hidden in the main course is a set of ingredients with an independent chemistry, the IBSA (India, Brazil and South Africa), along with the *plat d'accompagnement*, BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation), that has as much potential as the main course. South Block will need to use this opportunity to respond to the current realities in India’s north and west, even as it consolidates India’s diplomatic push east and south, while opening new avenues for engaging its western partners in innovative ways. In an interview with RT Russian president Vladimir Putin said “BRICS is one of the key elements of the emerging multipolar world. The five countries have consistently reaffirmed their commitment to the fundamental principles of international law and promote the central role of the United Nations. Our countries reject the policy of coercive pressure and infringement upon the sovereignty of other states.” Traditionally, the declarations of BRICS leaders (Brazil, Russia, India, China and South Africa) outline fundamental consensus-based stances on a wide range of issues and identify short-term development goals for the five nations that would serve as a target for follow-up steps aimed at strengthening strategic partnerships among our countries in various spheres. The establishment of the New Development Bank (NDB) and the BRICS Contingent Reserve Arrangement with the total capital of $200 billion is a concrete example of this cooperation. I am convinced that, as the bank gets stronger, its output will only increase, including by means of projects that promote integration among the BRICS countries. The NDB started its work in 2016, having approved the first projects in all five countries. The priority at the current stage is renewable energy. In Russia, this implies the construction of small 50 MW hydropower plants in Karelia worth $100 million. The participants in the BRICS Summit in Goa will look at the initial results of implementing the Strategy for BRICS Economic Partnership adopted in Ufa and finalize the draft of BRICS Roadmap for Trade, Economic and Investment Cooperation until 2020. We will certainly discuss the issues of project funding through the New Development Bank and of a full-fledged launch of the BRICS Contingent Currency Reserve Pool. (Various sources) MD