THE BRICS FORGES AHEAD AS BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA AS FORMED IN 2011 TO EXERCISE ITS ECONOMIC WILL THROUGH ECONOMIC, TRADE, AND BANKING MEETS TO FURTHER SOLIDIFY ITS CHALLENGE OF WESTERN CURRENCY - BUT REMAINS TO BE SEEN IF THE BRICS HAVE BEEN FIRED IN THE KILN OR ONLY MADE OF CLAY

"Some countries are getting more inward-looking in their policies. Protectionism is rising and forces against globalisation are posing an emerging risk," he added.

While Xi did not single anyone out, Republican candidate Donald Trump has threatened to erect trade barriers to Chinese products if elected US president. Britain's vote to leave the European Union has been interpreted partly as a backlash against globalisation.

While China's economy has been running out of steam of late --although it is still the world's second largest -- India is now the fastest-growing major economy and its GDP is expected to increase 7.6 percent in 2016–17.

- 'Deeper bonds' -

Modi said it was vital the BRICS nations increased cooperation by dismantling trade barriers and developing infrastructure.

"I think I speak for all when I say that through a common vision and collective action, we will create and sustain deeper bonds among BRICS nations, develop our economies and secure our societies," he said.

"While our achievements have been substantial, we need to sustain the positive direction and strong momentum of intra-BRICS engagement."

Xi said BRICS countries had much to be proud of and had contributed to more than 50 percent of global growth in the last decade.

https://www.yahoo.com/news/modi-hosts-brics-leaders-amid-blocs-economic-woes-021131674.html