India’s problem with its aging Air Force fleet is that it requires new fighter jets soon. The MiG-35 is best suited to meet India’s requirements and will be invited to participate in the tendering process in the near future

The New development bank set up by the BRICS will lend $2.5 billion in 2017, the President of the new lender told the leaders of the bloc who had gathered in the Indian state of Goa for the annual summit

Indian consortium has already invested $4 bln, $1 bln is left

KV Kamath, who heads the New Development Bank (NDB) set up by the Brics group of nations with a paid-up capital of $50 billion–contributed in equal proportions by Brazil, Russia, India, China and South Africa–is uniquely qualified to lead a new financial institution such as this in its formative years: He has worked at a multilateral development bank (MDB), the Asian Development Bank, a national development bank, ICICI and a commercial bank, ICICI Bank

The BRICS Trade Fair held in Delhi in the run up of BRICS summit in Goa revealed that bringing businesses of BRICS nations together, increasing trade and investments between five countries that differ geographically, economically and culturally, could be an even greater task then solving geopolitical issues or challenging the international world order

Chinese President Xi Jinping met Russian President Vladimir Putin here, and the two sides vowed to advance bilateral ties and boost cooperation within multilateral frameworks.

Xi arrived in the western Indian state of Goa earlier in the day for the eighth summit of the emerging-market bloc of BRICS, which groups Brazil, Russia, India, China and South Africa