"In India we have always been afraid of the Chinese after India's defeat in the 1962 war. In 2000, when import quotas were abolished, there was a fear of invasion of Chinese goods. A 'war room' was set up in the federal trade ministry. The fears were unfounded. Now we fear China will dominate BRICS Bank."
An official with India's Finance Ministry, who spoke on condition of anonymity because his views do not mesh with the government's official position, told Al Jazeera that the bank appears to be a better fit with China's foreign policy aims.
BRICS Bank: Can India contain Chinese moves? - Features - Al Jazeera English
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