BRICS Summit: PM Modi presents India as a global growth engine

Prime Minister Narendra Modi also stressed the need for mutual trust and transparency in international supply chains

August 24, 2023

Highlight of the summit was the potential meeting between Prime Minister Modi and Chinese President Xi ahead of the upcoming G20 Summit

Significant strides have been made in the country regarding ease of doing business

PM Modi invited BRICS business leaders to partake in India's developmental journey

He underscored the collective potential of BRICS nations to significantly contribute to global welfare, particularly in benefitting the Global South

During his address at Brazil, Russia, India, China, and South Africa (BRICS) Business Forum in Johannesburg, Prime Minister Narendra Modi highlighted India’s forthcoming role as a global growth engine and emphasizedthe need for mutual trust and transparency in international supply chains.

A significant highlight of the forum was the potential meeting between Prime Minister Modi and Chinese President Xi ahead of the upcoming G20 Summit, which could set the tone for President Xi’s participation in the G20 summit scheduled for September 9-10. Modi confirmed his intention to engage with various leaders and BRICS invitees on the summit’s sidelines, including Iran’s leader, Ali Khamenei.

During his address on the first day of the BRICS Summit’s Business Forum Leaders’ Dialogue in Johannesburg, Modi underscored India’s projection as a US$ 5 trillion economy in the near future, positioning itself as the global growth engine. He acknowledged India’s status as the world’s fastest-growing major economy and detailed the extensive reforms undertaken by the government over the past nine years.

Modi pointed out that significant strides have been made in ease of doing business, attributing this progress to mission-oriented reforms. He highlighted India’s impressive startup ecosystem, which boasts over 100 unicorns and ranks the world’s third-largest.

Emphasizing India’s ongoing reforms to enhance business-friendly environments through technology-driven solutions, the Prime Minister invited BRICS business leaders to partake in India’s developmental journey.

Addressing the impact of the COVID-19 pandemic, Modi stressed the importance of robust and inclusive supply chains. He underlined that these supply chains should be built on foundations of mutual trust and transparency.

Furthermore, Modi underscored the collective potential of BRICS nations to significantly contribute to global welfare, particularly in benefitting the Global South.


Source: Economic Times

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