In the today controversy, and for the opening of the DefExpo show 2012, the question should be “where goes the money” invested in major arms programs as the Indo-Russia cruise missile Brahmos.

India endorses BRICS bank

India’s prime minister said Thursday that international institutions are failing to lift up the developing world and endorsed the creation of a new development bank to be run by five fast-rising nations.

Prime Minister Manmohan Singh spoke at a summit of the so called BRICS group — comprised of Brazil, Russia, India, China and South Africa — aimed at harnessing the nations’ increasing global clout and forging stronger ties between their fast-growing economies.

Dilma Rousseff, Dmitry Medvedev, Manmohan Singh, Hu Jintao and Jacob Zuma at the Brics summit in New Delhi.