Chinese President Xi Jinping meets with Indian Prime Minister Narendra Modi in Ufa, Russia, July 8, 2015. [Photo/Xinhua]

Xi suggested that China and India, both as staunch supporters and active builders of the BRICS mechanism, work together to forge a closer, more comprehensive and firmer partnership within the emerging-market framework, so as to enable the BRICS countries to play a positive and constructive role and contribute more to world peace and development.

For his part, Modi said the India-China ties are enjoying sound development momentum, with mutual trust deepening continuously.

Recalling his meetings with Xi, Modi said the two countries have maintained frequent high-level contact.

In recent years, India and China have further expanded their economic and trade cooperation and made steady progress in cooperation in such areas as science and technology, outer space and infrastructure, Modi said.

Stressing that India welcomes more Chinese investment, Modi said his country stands ready to work with the Chinese side to strengthen strategic communication and coordination and properly manage their differences, including those in border issues.

The Indian side, he said, is willing to beef up cooperation with China under the framework of BRICS and actively participate in the construction and cooperation projects of the NDB and the AIIB, which provide more opportunities for deepening India-China interaction.

It is the fourth bilateral meeting between the two leaders since their first in Fortaleza, Brazil, last July. Respectively in September 2014 and May 2015, Xi and Modi visited each other's country, including each other's hometown.

The meeting came before the seventh summit of BRICS, an emerging-market bloc that consists of Brazil, Russia, India, China and South Africa, and the 15th Shanghai Cooperation Organization (SCO) summit.

The upcoming SCO summit is expected to pass a resolution on starting the procedures of granting India and Pakistan full membership of the organization.