According to Mr Rogers, India should probably not be included in the new world bank while he thinks Russia should be included due to its huge international currency reserves.
"To put together a competing world reserve currency and develop an alternative banking system, the BRICs might consider throwing India out of the equation"
From a financial perspective Jim Rogers says Russia is stronger compared to India and Brazil due to their national debts.
"India and Brazil have big (national) debts. Russia is not a big debtor and has big international reserves"