Updated: November 1, 2017 1:05:23 pm
Prime Minister Narendra Modi Wednesday took up with President Xi Jinping the issue of China putting on “technical hold” India’s move in the United Nations to question Pakistan on the release of 26/11 attack mastermind Zaki-ur Rehman Lakhvi.
During the course of their 95-minute meeting ahead of the BRICS and SCO summit in the Russian city of Ufa, the two leaders also discussed border issues and the need to accelerate the boundary talks process.
Modi also conveyed to Xi concerns in India over the economic corridor China is building through Pakistan-occupied Kashmir (PoK).
India and Russia reviewed their bilateral relations as Prime Minister Narendra Modi met Russian President Vladimir Putin late Wednesday evening. Foreign secretary S Jaishankar said in a briefing after the 90-minute interaction between the two leaders that energy sector cooperation was a key area for rebooting the engagement, including nuclear engagement and hydrocarbons. The nuclear cooperation includes building on negotiations to sign advance contract for the design of the third and fourth reactor units to come up at the Kudankulam site in Tamil Nadu. A contract for the design (of the third and fourth power units) has been under negotiation.
In other news
The central banks of the BRICS countries have signed an operating agreement on a $100 billion foreign exchange reserve pool that is being set up by the grouping’s five member nations to help each other “in case of any problems with dollar liquidity”.
The $100 billion pool aims to protect BRICS member states from currency volatility shocks. India will chip in with $18 billion. The agreement was signed Tuesday in Moscow after the meeting of the finance ministers and heads of the central banks of BRICS, the Central Bank of Russia (CBR) said in a statement.
The document contains a detailed description of the procedures that are carried out by the central banks of BRICS nations — Brazil, Russia, India, China and South Africa — within the currency reserve pool, defines their rights and duties.
Russian President Vladimir Putin on Wednesday conveyed to PM Narendra Modi that the process of India’s accession to the strategically-important Shanghai Cooperation Organisation has been set into motion. Putin, during the course of his bilateral talks with PM Modi ahead of the BRICS and SCO summits being held in this Russian city, said: “We are beginning the process of full-fledged inclusion of India into the Shanghai Cooperation Organisation.” Putin said it was “a very important event,” as Modi expressed his thanks.
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