USA NEWS CORP
27 November, 2014, India USANEWSCORP
New Development Bank with USD 100 billion is a positive hope for India' manufacturing and infrastructure sector. According to International Journal of Business Management, Photon BRICS countries are slow on execution, since the new bank has been formed. The initiate is likely to pay well for each participating country. Cooperation will also smooth Indo- China relations in Asia. While other participant countries are geographically so distant from each other, that chances of tussle is less. There are also dim chances that it will lessen western influence on growth and development of these countries. The initiative has already challenged World Bank and IMF monopoly. The Governments of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa, collectively the BRICS countries. China is also proposing a "maritime silk road" link to Europe that passes through Southeast Asia and Indian Ocean states.
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