The summit meeting of the heads of the five countries, Brazil, Russia, India, China and S.Africa (BRICS) held in New Delhi in the last two days has been watched by the world over. These five countries are some of the major developed and developing countries and their co-operation in the field of economy, trade etc. will have important results. The developed countries like US and Euro takes this as an alternate grouping which may not be to their benefit.

One of the major decision is that despite the embargo for Iran, India, Brazil and S.Africa will continue to buy oil from Iran. Secondly they have called to US etc. to have talks with Iran on the nuclear issue. There were bilateral discussions between India and the heads of the participating nations.Thiese bilateral agreements will be beneficial to India. My congratulations to the leaders of the BRICS!