With
the reference to BRICS Summit, I
want to say that, no doubt that the selection of Shanghai as the headquarters
for the BRICS Development Bank has hurt Indian Prime Minister Narendra Modi’s
domestic ratings but I must say not all is lost. I agree that BRICS summit was
an ideal platform for Modi to boost his country's profile but then it is ok as India
has been granted presidency of the bank for the first five years, which will to
some extent make up for Modi’s defeat in getting headquarters in India.

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