As world leaders descend in Goa from Brazil, Russia, China and South Africa for the 8th BRICS Summit, India is banking on trade ties to isolate Pakistan in the region.
In a twin strategy, India will be flexing its trade muscles with China and Russia. From blocking India’s NSG bid, to water wars in the Brahmaputra river and a veto against India’s bid to designate Masood Azhar as a global terrorist at UN, Beijing has been in a constant faceoff with New Delhi.
But India is banking on the strength of its markets where Chinese imports stands at $61.7 billion to ensure that Beijing falls in line.
For China too, which is facing a slowdown, it is imperative to find a trade partner in India. Interestingly, China has raised a demand for a free trade area among BRICS nations to remove tariff barriers. Here, India holds the key to push its own terms with Beijing.
On the other side, Russia conducted a joint military exercise with Pakistan, signalling a change in equation. President Vladmir Putin underlined how Indian businesses have invested about $8 billion in Russia.
While trade between India and Russia dipped by 7.8 per cent last year, nuclear and defence are the two key areas of cooperation with 18 key agreements in the pipeline.