PM Narendra Modi leaves on six-nation visit, to attend BRICS, SCO Summits

By: |
Updated: Jul 06, 2015 2:18 PM

Prime Minister Narendra Modi departed for Uzbekistan, the first leg of his eight day tour to five central Asian countries and Russia, on Monday.

narendra modiPrime Minister Narendra Modi leaves for his visit to Central Asia and Russia at Palam Airport in New Delhi on Monday. (PTI)

Prime Minister Narendra Modi today left on an eight-day visit to five Central Asian countries as also Russia, aiming to enhance strategic, economic and energy ties besides attending Summits of BRICS and Shanghai Cooperation Organisation (SCO).

The Prime Minister’s visit will start with Uzbekistan from where he will go to Kazakhstan tomorrow. He will then travel to Russia on July 8, before flying to Turkmenistan on July 10, Kyrgyzstan on July 11 and Tajikistan on July 12.

The SCO Summit, to be held in Ufa in Russia, may see India getting the membership of the six-nation grouping comprising China, Russia, Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan, which could be a major highlight of the visit. As of now, India has only an observer status.

The Summit of BRICS (Brazil, Russia, India, China and South Africa), the important economies across the world, will focus on discussions on enhancing cooperation in economic field, including the possibility of trade in local currency.

With the BRICS Development Bank already set up, the Summit could look at the possibility of starting credit facility in local currency. The first head of the bank is noted Indian banker K V Kamath.

During the visit to five Central Asian nations, the first by an Indian Prime Minister to all of them together, the focus will be on enhancing trade, which is “not impressive”, and cooperation in energy and security, the Ministry of External Affairs had said last week.

An effort will also be made to push the Turkmenistan- Afghanistan-Pakistan-India (TAPI) project, which is crucial for India’s energy needs as it will carry gas from Central Asia. It has been hampered because of lack of physical connectivity.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Congress makes 3 demands on farm bills for ending boycott of Rajya Sabha
2PM Narendra Modi visited 58 countries since 2015
3Nitish hails farm bills passage, says some people are speaking against it without knowledge