Prime Minister Narendra Modi on Thursday addressed the 14th BRICS summit and said the grouping’s member countries – Brazil, Russia, India, China and South Africa – have a similar approach with regard to governance of the global economy. In his virtual address, PM Modi said, “BRICS members have a common view regarding the governance of the global economy. Our mutual cooperation can make a useful contribution to the global post-Covid recovery.”
China is hosting the 14th BRICS summit in virtual mode. Prime Minister Modi in his address highlighted several areas of cooperation among the BRICS countries. This includes increased connectivity between BRICS youth summits, BRICS sports, civil society organizations and think tanks. “There are many areas where citizens have benefited through cooperation between BRICS countries. By increasing linkages between BRICS youth summits, BRICS sports, civil society organizations and think-tanks, we have strengthened our people-to-people linkages. done,” he said. Said further.
BRICS has become a forum for all developing countries to discuss and deliberate on issues of common concern. BRICS countries have regularly called for reform of the multilateral system to make it more representative and inclusive. At the opening ceremony of the BRICS Business Forum on Wednesday, the Prime Minister underscored the role of BRICS countries amid the global focus on post-Covid recovery.
“BRICS was established with the belief that this group of emerging economies can emerge as the engine of global growth. Today, as the world focuses on the recovery of COVID, the role of BRICS countries will be very important, PM Modi said in a record the lack of secrecy.
He said, “India supports innovation in every field including drones, green energy and space. By 2025, India’s digital sector value will cross USD 1 trillion.”
The Prime Minister said that India is expecting a growth of 7.5 per cent this year. “What makes us the fastest growing major economy. Transformational changes are taking place in every sector of the emerging New India,” he said. BRICS is a multilateral forum consisting of five major emerging economies of the world, namely Brazil, Russia, India, China and South Africa.