I would like to join President Hu Jintao and President Medvedev in thanking President Lula for the excellent arrangements made for the second BRIC Summit.

 

I also take this opportunity to extend, on behalf of the people and Government of India, our deepest condolence on the devastating earthquake in China. I also offer our deepest sympathies to the victims of the recent mudslides in Brazil.

 

We have had a very successful Summit under President Lula's leadership.

 

This is the second stand-alone Summit of the BRIC countries in less than a year. Our countries have gathered here today because we stand to gain from cooperation with each other, and because we believe that greater cooperation among us is also good for the world.

 

The BRIC grouping was not borne out of a crisis. It was an act of long term faith in our people and in our economies. However, the global economic and financial crisis has created a new relevance for BRIC.

 

Sustaining global economic recovery and making it inclusive would be the major challenges before us in the near term. With their internal economic strengths, BRIC countries have the potential to play a constructive role in contributing to world economic growth and prosperity. We are all part of the G20 process.

 

We have also had useful discussions on other issues of common interest.

 

These include climate change, sustainable development, food security, energy security and reform of international financial institutions and of the United Nations.

 

We support a multipolar, equitable, democratic and just world order with the United Nations playing a central role in tackling global challenges.

 

I once again thank President Lula for hosting this Summit and the leadership he has consistently given to the BRIC process.