BRICS seek attention to lumpy inflows into developing mkts

Published on Fri, Apr 15, 2011 at 08:43 

Updated at Fri, Apr 15, 2011 at 08:45  

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Brazil, Russia, India, China and South Africa, collectively knows as the BRICS countries, have called for greater international attention towards lumpy capital inflows into developing countries.
At a meeting of leaders of the group at the South China beach resort of Sanya, the BRICS nations called for greater oversight and reforms in financial markets and banking systems. In its resolution, the BRICS nations also called for strengthening of regulation for derivatives markets to control price rise in commodities.

Prime Minister Manmohan Singh, who is leading the Indian contingent, reiterated India’s commitment for a successful conclusion of the Doha round of world trade talks. Singh also invited the BRICS leaders for the next conference of the group to be held in India next year.