In a speech, he said the BRICS nations, affected by internal and external factors, have seen weak economic growth and are facing new challenges in their development.
Meanwhile, they still maintain a competitive edge in the areas of resources, market and labor, enjoying a bright development prospect, said Xi.
The BRICS cooperation has entered into a new phase after 10 years of development, facing both challenges and opportunities, he said.
He encouraged business communities to seize these opportunities and actively participate in and promote economic cooperation among the BRICS nations, so as to shore up confidence, push for reform and innovation, boost pragmatic cooperation, and make greater contribution to creating a brighter future for common development of the BRICS nations.
During the dialogue, NDB President Kundapur Vaman Kamath reported to the five leaders about the operation of the bank.
The five leaders also took a group photo with captains of juvenile football teams from five BRICS countries.
India is the final stop of Xi's Southeast Asia and South Asia tour, which has already taken him to Cambodia and Bangladesh.
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