President Hu Jintao met with Indian Prime Minister Manmohan Singh on Thursday, as the leaders pledged to further ties between Asia's two biggest countries.
India presents promising opportunities for Chinese investment, and New Delhi is encouraging more of it to narrow the trade deficit, but there are obstacles, too.
Jim O'Neill, who coined the acronym "BRIC", said that he supports India's proposal for the BRICS countries to create a joint development bank.
The BRICS nations on Thursday signed two agreements to provide line of credit to business community and reduce demand for fully-convertible units.
President Hu Jintao urged Thursday the BRICS countries to deepen political trust and strengthen equal consultation while addressing the annual bloc summit.
BRICS' report issued at New Delhi summit
Emerging economies expressed concerns over the monetary policy pursued by the Western countries.
A BRICS' report, focusing on the growth prospects, synergies and complementarities among the five large emerging economies, has been issued Thursday here as one of the outcomes of the fourth BRICS Summit.
China's plan to extend yuan-denominated loans to other members in the BRICS group is a "further step" that will help internationalize the Chinese currency.
Emerging economies have a constructive effect on the international landscape, President Hu Jintao said in a joint interview on Wednesday.
China and India on Wednesday called for pragmatic approaches to resolving geopolitical issues, as the US imposed sanctions on two Iranian companies.
President Hu Jintao arrived at the Indian capital New Delhi Wednesday afternoon to attend the 4th BRICS summit and will meet with Russian President Dmitry Medvedev.BRICS countries eye joint bank
The BRICS group of emerging world powerhouses is expected to launch plans this week for a joint development bank.
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