Switzerland is "extremely keen" on greater cooperation in India's fight against suspected black money stashed in Swiss banks and is putting in place a new law on automatic information exchange that will take about a year to come into force, Finance Minister Arun Jaitley has said.

The US is not asking countries like India and Vietnam to take sides in the Asia Pacific region, but steps Beijing is taking in the disputed South China Sea are "self-isolating" and driving countries towards America, US Defense Secretary Ashton Carter has said.

As India is growing fast at over 7 per cent, the nature of BRICS bloc has undergone a major change with each member showing an economic performance very different from the other, IMF chief Christine Lagarde said today.