New Delhi: Prime Minister Narendra Modi said on Friday that from grassroots to frontier technology, new possibilities for innovation are taking shape among
BRICS countries. He noted that BRICS countries today represent 40 percent of the world’s GDP.
Addressing the BRICS Business Summit in the national capital, the PM said that while there were just four members in BRICS IN 2006, it has gone up to 21 countries, including BRICS countries and BRICS partners.
Optimism of BRICS is clearly visible: PM Modi
“BRICS countries are becoming important centres for global innovations and solutions. From grassroots to frontier technology, new possibilities for innovation are taking shape in our countries. The growing scale, speed, and optimism of BRICS are clearly visible among us. This forum held in India is the largest BRICS Business Forum so far,” the PM said.
He added, “This year, we are celebrating 20 years of BRICS. When this group was founded in 2006, it consisted of only four countries. Today, our BRICS family, including BRICS and BRICS partners, comprises 21 countries”.
‘BRICS nations playing important roles globally’
The PM also pointed how BRICS nations are playing important roles globally. “BRICS countries represent 50% of the world’s population, 40% of GDP, and more than 25% of trade. Not only that, while global GDP has grown about 1.5 times in these years, the combined GDP of BRICS countries has grown about 4.5 times,” he said further.
The PM noted that after 2014 India signed FTAs with over 40 countries around the world. “The theme of India-led BRICS is ‘Building for Resilience, Innovation, Cooperation and Sustainability’. Over the last 12 years, India has made this mantra the foundation of its economic and trade policies. As far as resilience is concerned, from energy to technology, India has diversified and made its supply chains more reliable,” the PM pointed out at the forum.
