Narendra Modi at BRICS Summit

Russian President Vladimir Putin (C) shakes hands with India's PM Narendra Modi during the 6th BRICS summit in Fortaleza, Brazil on July 15, 2014.

India's PM Narendra Modi delivers a speech during the 6th BRICS summit in Fortaleza, Brazil on July 15, 2014.

Brazil's President Dilma Rousseff (R) talks to India's Prime Minister Narendra Modi as they pose for a group picture during the VI BRICS Summit in Fortaleza July 15, 2014.

Indian Prime Minister Narendra Modi (L) walks next to Brazilian President Dilma Rousseff (C) and Chinese President Xi Jinping during the 6th BRICS Summit in Fortaleza, Brazil, on July 15, 2014.

Brazilian President Dilma Rousseff (C), India's Prime Minister Narendra Modi (L) and China's President Xi Jinping(2R) leave the place after the official photograph of the 6th BRICS summit in Fortaleza, Brazil, on July 15, 2014.

Prime Minister Narendra Modi at 6th BRICS Summit in Fortaleza, Brazil.

Prime Minister Narendra Modi at 6th BRICS Summit in Fortaleza, Brazil.

Prime Minister Narendra Modi being received by the President of Brazil, Dilma Rousseff on his arrival at the Ceara Events Centre for the 6th BRICS Summit in Fortaleza.

Prime Minister Narendra Modi arrives at Fortaleza in Brazil to attend the 6th BRICS summit.

(L to R) Russian President Vladimir Putin, India's PM Narendra Modi, Brazilian President Dilma Rousseff, China's President Xi Jinping and South Africa's Jacob Zuma gesture during the 6th BRICS Summit in Fortaleza, Brazil, on July 15, 2014. Leaders of the BRICS (Brazil, Russia, India, China and South Africa) group of emerging powers gathered in Brazil on Tuesday to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions.