PM Modi flew in here from Kazakhstan, which was his second stop after Uzbekistan in his six-nation week-long tour. "It is very special to be in Russia, a nation whose remarkable friendship with India has always been known," PM Modi said on his arrival.

He was accorded a warm welcome at the Ufa Airport and was treated with sweets. "I am hopeful of productive meetings and interactions at the BRICS and SCO Summits, forums we attach immense importance to," the Prime Minister said.

He will first attend the summit of five-nation BRICS – Brazil, Russia, India, China and South Africa -- which is expected to be dominated by discussions on enhancing cooperation in the economic area.

With the BRICS Development Bank already set up, the summit could also look at the possibility of starting trade and credit facility in local currency. The first head of the bank is noted Indian banker KV Kamath. Besides PM Modi and Xi, the BRICS Summit is being attended by Russian President Vladimir Putin, Brazilian President Dilma Rousseff and South African President Jacob Zuma.     

"I expect positive outcomes in economic cooperation and cultural ties among the BRICS nations. The (BRICS) Summit in 2014 was productive and I am sure we will build on the ground covered during the last Summit," PM Modi had stated in a statement prior to his departure from Delhi on Monday.

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