17 Oct 2016
The world’s largest emerging markets must double trade between their countries in the next four years and unite to fight terrorist threats that hurt economic prosperity, Indian Prime Minister Narendra Modi said.
Noting intra-BRICS trade was $250 billion, Modi said: “We should set ourselves a target to double this number to $500 billion by 2020”.
The eighth annual summit, which brought leaders from Brazil, Russia, China, India and South Africa to the tropical Indian state of Goa, took place amid heightened tensions between India and its nuclear-armed neighbor Pakistan. Terrorism, security issues and defense ties – particularly between India and Russia – dominated the weekend’s discussions.
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