New Delhi. To increase economic cooperation, Chinese President Xi Jinping has presented a 5-point plan from the BRICS platform. The initiative focuses on areas such as trade, digital economy, artificial intelligence, industrial cooperation and market integration. China claims that this will give new impetus to economic cooperation and development among BRICS countries.
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However, regarding this initiative of China, India is keeping an eye on its possible effects. New Delhi may be especially cautious regarding the increasing access of Chinese goods, technology and AI related products. On one hand, India is in favor of increasing economic and technological cooperation within BRICS, while on the other hand it is being cautious about its domestic industry, digital security and strategic interests.
In such a situation, the big question is whether China wants to create a big market for its goods and technology through economic cooperation with BRICS? Moreover, will this initiative really pave the way for shared development of all member states? Now the challenge for India will be to maintain a balance between BRICS cooperation and its strategic self-reliance.