Victory for India at BRICS Summit

Leaders of the BRICS nations (L-R): Russia's President Vladimir Putin, India's Prime Minister Narendra Modi, Brazil's President Dilma Rousseff, China's President Xi Jinping and South Africa's President Jacob Zuma, pose for a group photo during the BRICS summit. (Source: AP)
In a major victory for India, the BRICS Summit decided to establish the new development bank with an initial authorised capital of USD 100 billion for which the initial subscribed capital will be equally shared by the founding members, a point New Delhi emphasised to prevent by domination by anyone of the members.

Narendra Modi speaks during the BRICS 2014 summit. (Source: AP)

Russia's President Vladimir Putin shakes hands with Narendra Modi during the BRICS 2014 summit. (Source: AP)-

Narendra Modi with Chinese President, Xi Jinping, Russian President, Vladimir Putin, Brazil's President, Dilma Rousseff and South African President, Jacob Zuma during the official photo of 6th BRICS summit. (Source: PTI)

Narendra Modi at 6th BRICS Summit in Fortaleza, Brazil. (Source: PTI)

Russia's President Vladimir Putin, left, Narendra Modi, second left, and South African President Jacob Zuma greet each other, while Brazil’s President Dilma Rousseff takes a seat at the BRICS 2014 summit. (Source: AP)

Narendra Modi talks with Chinese President, Xi Jinping during the official photo of 6th BRICS summit. (Source: PTI)

Prime Minister Narendra Modi being received by the President of Brazil, Dilma Rousseff on his arrival at the Ceara Events Centre for the 6th BRICS Summit in Fortaleza. (Source: PTI)

Narendra Modi and Commerce Minister Nirmala Sitharaman at 6th BRICS Summit. (Source: PTI)

Brazil President Dilma Rousseff speaks during the BRICS 2014 summit. (Source: AP)