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The group also addressed the importance of transitioning away from fossil fuels while acknowledging their continued role in developing economies.
On the opening day of the two-day summit held in the coastal city of Rio de Janeiro, top BRICS leaders reaffirmed their determination to fight terrorism in all its forms, including cross-border infiltration and terror financing.
The summit in Brazil, though missing some key leaders, focuses on cooperation and sustainable governance among emerging economies.
BRICS countries include Brazil, Russia, India, China, South Africa and others.
In order to counter terrorism and terror financing, we need the single-minded, firm support of all. There is no place for double standards on this serious matter, he said.
China confirmed that it has reached an agreement with India to end the standoff between the two armies in Eastern Ladakh.
Highlighting the growth of India's digital economy, he said its value will reach USD one trillion by 2025 and that the government is supporting innovation in every sector.
External Affairs Minister S Jaishankar's comments assume significance as they come in the backdrop of the lingering border row between India and China.
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