Prime Minister Modi Highlights BRICS Growth and Future at Summit in Russia
Prime Minister Narendra Modi attended the BRICS Leaders’ Summit in Kazan, Russia, where he emphasized India’s commitment to enhancing cooperation within the BRICS group. He congratulated Brazil’s President Lula da Silva for hosting the next summit and praised the inclusion of five new members, which has expanded BRICS into an economy exceeding 30 trillion dollars, representing 40% of the world’s population and 30% of the global economy.
Modi highlighted the achievements of the BRICS Business Council and the BRICS Women Business Alliance in boosting economic cooperation. He noted the consensus on WTO reforms, trade facilitation in agriculture, resilient supply chains, e-commerce, and special economic zones as key to strengthening economic ties. He also stressed the importance of supporting small and medium-scale industries and announced the launch of the BRICS Startup Forum, proposed during India’s chairmanship in 2021.
Modi expressed India’s belief in diversity and multipolarity as strengths that will shape a prosperous future for coming generations. He extended support to Brazil for its upcoming BRICS presidency and expressed hope that BRICS will become a more effective platform for addressing global challenges. He thanked President Putin for organizing the summit and welcomed new BRICS members.
Modi also acknowledged the New Development Bank’s role in aiding Global South nations and congratulated its President, Dilma Rousseff. He emphasized the importance of the bank’s demand-driven approach and the need for sustainable financial practices.
Doubts Revealed
BRICS -: BRICS is a group of five countries: Brazil, Russia, India, China, and South Africa. They work together to improve their economies and solve global problems.
Kazan -: Kazan is a city in Russia where the BRICS Summit was held. It’s known for its rich history and cultural diversity.
Lula da Silva -: Lula da Silva is the President of Brazil. He will host the next BRICS Summit in his country.
BRICS Business Council -: The BRICS Business Council is a group that helps businesses from BRICS countries work together and grow.
Women Business Alliance -: The Women Business Alliance is a group that supports women entrepreneurs in BRICS countries, helping them succeed in business.
BRICS Startup Forum -: The BRICS Startup Forum is a new initiative to support and encourage new businesses and startups in BRICS countries.
New Development Bank -: The New Development Bank is a bank set up by BRICS countries to fund projects that help developing countries, especially in the Global South.
Global South -: The Global South refers to countries in Africa, Latin America, Asia, and Oceania that are generally less economically developed.
