India World’s Most Investment Friendly Economy: PM Ends BRICS Tour
BRICS economies together comprise 42 percent of the world’s population and 23 percent of the global GDP.
Prime Minister Narendra Modi on Friday, 15 November landed in New Delhi after the conclusion of the 11th BRICS summit in Brazil.
Addressing the plenary session at the summit, PM Modi said that there was a need to focus on trade and investment among the countries as intra-trade among the BRICS nations alone account to 15 percent of world trade.
The summit focussed on strengthening ties among the five major economies in the areas of digital economy, science and technology.
- BRICS is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa
- These economies together comprise 42 percent of the world’s population and 23 percent of the global GDP
- This will be the sixth time PM Modi will be participating in the BRICS summit
PM Modi Emplanes for New Delhi After Wrapping up BRICS Summit
Prime Minister Narendra Modi emplaned for New Delhi after attending the BRICS summit in Brazil during which the member nations held dialogues on cementing ties in trade, innovation, technology and culture.
"The BRICS Summit in Brazil has been a very productive one. We had fruitful dialogues on cementing ties in trade, innovation, technology and culture. The focus on futuristic subjects will surely lead to deeper cooperation that will benefit the people of our respective nations," the prime minister tweeted.
'Need to Focus on Trade', Says PM Modi at BRICS Plenary Session
Addressing the plenary session at the BRICS Summit, PM Narendra Modi said that there was a need to focus on trade and investment among the countries as intra-trade among the BRICS nations alone account to 15 percent of world trade.
“We recently launched 'Fit India Movement.' I want communication and exchange between BRICS nations to increase in areas of fitness and health,” added PM Modi.
India World's Most Open, Investment Friendly Economy: PM Modi
India is the world's most ‘open and investment friendly’ economy, Prime Minister Narendra Modi said as he wooed the BRICS business leaders, urging them to invest in the country and take advantage of its "limitless" possibilities and "countless" opportunities.
Addressing the closing ceremony of the BRICS Business Forum, prime minister Modi said the grouping of five countries had led to economic development despite the global economic slowdown.
"India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires USD 1.5 trillion investment," he said.
Brazilian Prez Bolsonaro to Be Chief Guest at India's Republic Day Celebrations
Brazilian President Jair Bolsonaro accepted Prime Minister Narendra Modi's invitation to be the chief guest at India's Republic Day celebrations next year.
Modi met Bolsonaro on the sidelines of BRICS 2019 and spoke about diversifying cooperation for the benefit of the people.
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