Xi's 5-point action plan for Brics may see red flags go up in India
Chinese President Xi Jinping's proposed five-point action plan for BRICS, which includes market integration and an open-source AI platform, is facing skepticism from Indian policymakers. India remains wary of these initiatives, fearing they could lead to market cannibalization by Chinese goods and compromise domestic technological development.
Why it matters
This highlights the ongoing geopolitical friction between India and China, illustrating how trade and technology initiatives are viewed through a lens of national security and economic sovereignty.
NEW DELHI: Chinese President Xi Jinping's statement on integrating markets and developing an open-source AI platform, along with other initiatives he proposed, is unlikely to enthuse policy circles here, given the wariness over such proposals from across the border.Ahead of China taking over presidency of Brics, Xi's speech at the concluding session of the summit is being seen as an indication that he would make a push for incorporation of these aspects into the agenda for next year's conference.For a long time, Brics has stayed away from becoming a trading bloc, and integrating markets through tariff cuts and investment protection regimes comes with the risk of opening markets to Chinese goods and companies with few guardrails, risking the development of homegrown technologies and players.India has maintained strict checks on Chinese investments, approving them on a case-by-case basis, and has refused to drop its guard despite the intense lobbying by sections…
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