BRICS Summit: Xi Jinping welcomed PM Narendra Modi at International Conference Center in Xiamen. (AFP)
Xiamen, China: Prime Minister Narendra Modi and Chinese President Xi Jinping will hold a bilateral meeting at 10 am today on the sidelines of the BRICS summit. The meeting comes days after India and China called off their troops after a 73-day stand-off at Doklam. On Monday morning, the two leaders had greeted each other with a warm handshake and broad smiles before the day's programmes started. The leaders of BRICS - a grouping of Brazil, Russia, India, China and South Africa - have strongly condemned and named in a declaration, for the first time, Pakistan-based terror groups like Lashkar-e-Taiba, Jaish-e-Mohammed and the Haqqani network.
Here is your 10-point cheat-sheet to the BRICS Summit 2017:
Speaking at the plenary session of the summit, Prime Minister Narendra Modi said trade and economy were the foundations of cooperation in BRICS and called for the creation of a BRICS credit rating agency to cater to financing needs of sovereign and corporate entities of developing countries. "Our central banks must further strengthen their capabilities and promote co-operation between the Contingent Reserve Arrangement and the International Monetary Fund," he said.
PM Modi sought a strong BRICS partnership to spur growth, saying the bloc of emerging economies has developed a robust framework for cooperation and contributed to stability in a world "drifting towards uncertainty".
The Prime Minister met Russian President Vladimir Putin and Brazilian President Michel Temer on the sidelines of the summit. PM Modi and President Putin discussed the ways to promote bilateral trade and investment and increasing cooperation in the fields of natural gas and oil sector, the foreign ministry said.
"I wish to announce here that China will launch the economic and technical cooperation plan for BRICS (Brazil, Russia, India, China and South Africa) countries with 500 million yuan for the first term to facilitate policy exchange and practical cooperation and in the economic and trade field," Chinese President Xi Jinping said at the opening ceremony.
After another bilateral with Egypt's President Abdel Fattah al-Sisi today, PM Modi will travel to Nay Pyi Taw for his first state visit to Myanmar. He would hold discussions with State Counsellor Daw Aung San Suu Kyi and call on President U Htin Kyaw The trip includes a visit to the historic city of Bagan and Yangon. He will also interact with the country's Indian community.
PM Modi and President Xi had met informally at the G20 summit in Germany in July, but their last bilateral talks were held in Astana, the capital of Kazakhstan, in June during the Shanghai Cooperation Organisation.
That meeting had come amid growing differences between the two nations over a host of issues, including the China-Pakistan Economic Corridor and China's opposition to India's efforts to enter the Nuclear Suppliers Group.
Later that month, Indian soldiers stopped China from building a road in the remote, uninhabited territory of Doklam, claimed by both China and Bhutan, resulting in a stand-off near the Sikkim border that lasted over two months.
On Sunday, Xi Jinping, without directly referring to the Doklam tension, underlined that "peace and development" should be the underpin to resolve issues as the world does not want "conflict and confrontation."