New Delhi [India], September 11 (ANI): PM Modi on Friday hailed BRICS nations as important centres of global innovation and solutions amid global uncertainties.
Speaking at the leaders' session of the BRICS Business Forum, PM Narendra Modi said, "Today, BRICS nations represent 50% of the world's population, 40% of its GDP, and over 25% of global trade. Moreover, while global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold. In other words, the economic strength of BRICS has grown at nearly twice the pace of the rest of the world. BRICS nations are also emerging as key hubs for global innovation and solutions. New possibilities for innovation, spanning everything from grassroots initiatives to frontier technologies, are taking shape within our countries. The growing scale, speed, and optimism of BRICS are clearly evident among us. This forum, hosted in India, is the largest BRICS Business Forum to date."
The Prime Minister said that India has made building for resilience and innovation a mantra for economic and trade policies.
"The theme of India’s BRICS chairmanship is 'Building for Resilience, Innovation, Cooperation, and Sustainability.' Over the past 12 years, India has made this mantra the foundation of its economic and trade policies," the Prime Minister said
"Regarding resilience, India has made supply chains spanning sectors from energy to technology more diversified and reliable. It is a result of this resilience that, even amidst global uncertainties, India today offers the assurance of growth and stability. We are rapidly expanding our roads, railways, ports, and airports. Simultaneously, we are building new capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals, and biotechnology...India’s Unified Payments Interface (UPI) has given fresh momentum to financial inclusion and digital transactions on a massive scale. Today, 50% of the world's real-time payments take place using this technology," he added.
The Prime Minister highlighted that amid global uncertainties, India today offers a source of confidence for growth and stability.
"Today, while trade barriers are rising globally, India is building economic bridges. Since 2014, we have entered into free trade agreements with nearly 40 countries," he said
"Our approach remains focused on reducing barriers and expanding opportunities for businesses. That is why, under our BRICS presidency, we have established new cooperation networks in sectors such as agriculture, health, skills, and smart grids. To connect startups and MSMEs with markets and finance, we have launched initiatives like the BRICS Incubator Network, the BRICS MSME Portal, and the BRICS Startup Innovation Fund. You can all leverage these cooperation frameworks to enhance the exchange of investment and talent among our nations," he added.
India is the host of the 18th BRICS Summit. India’s Chairship is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” The theme reflects India’s focus on strengthening existing achievements and institutional effectiveness. It places development, sustainability and innovation at the heart of the agenda. It also highlights the aspirations of the Global South. India seeks to reinforce BRICS as a constructive and solutions-oriented forum. (ANI)
"Speed, scale and optimism of BRICS evident": PM Modi at BRICS Business Forum
