Prime Minister Narendra Modi has said that BRICS nations are emerging as important centres of global innovation and solutions. Addressing the Leaders’ Session of BRICS Business Forum at Bharat Mandapam in New Delhi this evening, Mr Modi said, today, BRICS nations represent 50 per cent of the world’s population, 40 per cent of its GDP and over 25 per cent of global trade. He said, moreover, while global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold. The Prime Minister said, the economic strength of BRICS has grown at nearly twice the pace of the rest of the world. He said, BRICS nations are also emerging as key hubs for global innovation and solutions. Mr Modi said, new possibilities for innovation, spanning everything from grassroots initiatives to frontier technologies, are taking shape within the countries.
The Prime Minister said, amid global uncertainties, India today offers a source of confidence for growth and stability. He called for Make in India, Innovate with India and Scale for the world. He said, at a time when trade barriers are rising across the world, India is building economic bridges. Mr Modi said, global trade can move forward only when sea lanes are secure, supply routes remain open and seafarers are safe. He said, that is why India is a steadfast advocate of freedom of navigation and the safety of seafarers.
Mr Modi called upon Member countries to turn BRICS’ ambition into action and the collective strength into solutions for the world.
