Congress unable to digest India's progress, spreading negativity over BRICS: BJP

In a video message, BJP MP and national spokesperson Sambit Patra said that while the "I" in BRIC was "turning shaky" in 2011-12, India is now one of the strongest partners of BRICS. "Today, India has found its position in the global arena as never before," he said.

"Remember, the 'I' in BRICS stands for India, and the 'I' in India stands for the 140 crore people of India. I am India. I am one of the strongest partners of BRICS, and I am proud of it. Today, I am proud to be a citizen of India and a very strong member of BRICS," he added. Mr. Patra cited two articles published in leading newspapers in 2011 and 2012 to back his claim.

"Today, the Congress party and some Opposition parties are trying to spread negativity and create a negative atmosphere around the BRICS Summit. I think they need to be shown a mirror," he said.

Citing a 2012 article based on comments by global financial services firm Goldman Sachs, Mr. Patra said its headline was "India least attractive BRICS member in valuation terms. " "Goldman Sachs clearly says that in 2012, if there was one BRIC member that was the least attractive in terms of valuation, it was India," Mr. Patra said.

He said when Jim O'Neill, then chairman of Goldman Sachs, was asked whether Brazil was the strongest BRIC country and India the weakest, he said India was the least attractive in terms of valuation.

"China would be the most attractive; India would be relatively the least... That being said, because the markets are so worried about India, as I mentioned earlier, if we do indeed get some reforms, perhaps India will further rally ahead of the move than the other markets. I have China as number one, probably right now, Brazil as number two, Russia is number three, and India is number four," Mr. Patra quoted O'Neill as saying.

He further said the final line of the article stated that it would not be a surprise if Indonesia replaced India, as Indonesia had moved far ahead.

"What is the essence of this article? It essentially says that in 2012, there were no meaningful reforms in India, the country was falling behind, inflation was high, and the condition of the Indian market was such that, among the BRIC nations, India was at the bottom," he said.

Mr. Patra said the second article, published on September 21, 2011, highlighted high inflation and a weak currency in India. "The second article is dated September 21, 2011, and its headline is, 'With high inflation and weak currency, India not like other BRIC countries'," he said.

"Inflation in India is the worst among the so-called BRIC nations. Current account deficit is a concern, fiscal deficit is a worry, fresh investments are stalled despite creaky infrastructure. Probably for the first time in a decade since Jim O'Neill of Goldman Sachs coined the acronym, BRIC is weakening and the ‘I’ in it turning shaky," Mr. Patra said, quoting further from the second article.

"And yet, we have some politicians and some Opposition leaders who are not able to digest this. Today, some members of the Opposition and the Congress party are unable to digest India's progress because India is moving forward," Mr. Patra added.