BRICS nations discuss creation of a joint bank

Leaders of emerging market nations are meeting in Delhi to discuss how to transform their growing economic clout into greater global influence.

It is the fourth gathering of the so-called BRICS group which brings together Brazil, Russia, India, China and South Africa.

They are discussing the creation of a joint development bank and plans to link their stock exchanges. It marks a new level of ambition for a bloc that accounts for about half the world’s population.

The summit has not been without controversy. A man died after setting himself on fire in protest at Chinese President Hu Jintao’s presence in Delhi.

As the summit began in the capital, Tibetan exiles in Dharamshala in northern India marched in the dead man’s memory, demanding an end to Chinese rule in Tibet.

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