INDIA: Chinese President Hu Jintao arrives in Delhi to take part in a one day BRICS summit between Brazil, Russia, India, China and South Africa
Record ID:
1374200
INDIA: Chinese President Hu Jintao arrives in Delhi to take part in a one day BRICS summit between Brazil, Russia, India, China and South Africa
- Title: INDIA: Chinese President Hu Jintao arrives in Delhi to take part in a one day BRICS summit between Brazil, Russia, India, China and South Africa
- Date: 29th March 2012
- Summary: NEW DELHI, INDIA (MARCH 28, 2012) (ORIGINALLY 4:3) (ANI-NO ACCESS BBC) AIRPORT COMPLEX CHINA'S NATIONAL FLAG AN AIR CHINA AIRCRAFT PARKED ON RUNWAY DELEGATION TO WELCOME CHINESE PRESIDENT HU JINTAO, WAITING CHINA'S PRESIDENT, HU JINTAO, DISEMBARKING FROM HIS AIRCRAFT HU JINTAO GREETING THE WELCOME DELEGATION HU JINTAO WAVING TO MEDIAPERSONS HU JINTAO WALKING WITH INDIA'S JUNIOR COMMERCE MINISTER, JYOTIRADITYA SCINDIA HU JINTAO WAVING HU JINTAO'S VEHICLE LEAVING HU JINTAO'S CONVOY MOVING OUT OF AIRPORT
- Embargoed: 13th April 2012 10:08
- Keywords:
- Location: India, India
- Country: India
- Topics: International Relations,Politics
- Reuters ID: LVA1ANYZZYI33PNNJNNFP2HBA7V2
- Aspect Ratio: 4:3
- Story Text: Chinese President Hu Jintao arrived in New Delhi on Wednesday (March 28) to participate in a summit of the emerging economic powerhouses comprising Brazil, Russia, India, China and South Africa (BRICS) countries.
India's Junior Commerce Minister, Jyotiraditya Scindia, received Hu Jintao on his arrival at the airport in New Delhi.
Hu Jintao and other leaders of the grouping are expected to launch plans this week for a joint development bank and measures to bring their stock exchanges closer together.
The initiative would allow the countries to pool resources for infrastructure improvements and could also be used in the longer term as a vehicle for lending during global financial crises such as the one in Europe.
The BRICS summit is due to be held in New Delhi on Thursday (March 29). An initiative to establish a development bank billed as an alternative to the International Monetary Fund and the World Bank is likely to be discussed at the summit.
China is by far the largest donor in the group and would expect to lead any joint development efforts, with its spending on aid in 2010 estimated at 3.9 billion U.S. dollars.
Over the past years, the BRICS countries have maintained stable and fast growth on the whole, and have thus become an important locomotive in pushing forward global economic growth.
The BRIC acronym was coined in 2001 by Goldman Sachs economist Jim O'Neill, who was searching for a catchy way to encapsulate the broader shift in global economic growth towards emerging markets. South Africa joined the grouping in 2010 so that it became BRICS. - Copyright Holder: ANI (India)
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