PM Modi Foresees Growth Engine Role at BRICS Summit

“India’s Economic Reforms and Technological Leap: Paving the Way to Become a Global Growth Engine – Insights from Prime Minister Narendra Modi’s Address at BRICS Business Forum”

Summarized Article:

• Indian Prime Minister Narendra Modi highlighted India’s economic reforms and technological advancements, projecting India as the world’s growth engine in the near future.
• Speaking at the BRICS Business Forum in South Africa, Modi emphasized India’s commitment to becoming a developed nation by 2047.
• He congratulated the BRICS Business Council on its tenth anniversary and praised its role in enhancing economic cooperation among member nations.
• Modi pointed out that BRICS emerged as a beacon of hope during the global financial crisis and remains relevant during the COVID-19 pandemic’s economic challenges.
• He stated that India is on track to become a 5 trillion dollar economy and a global growth engine, attributing this growth to converting crises into opportunities.
• Modi mentioned economic reforms, improved ease of doing business, boosted investor confidence through GST and insolvency implementation, and emphasized public service delivery and good governance.

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• He highlighted India’s achievements in digital technology, such as direct benefit transfers, high digital transaction rates, and a thriving startup ecosystem.
• Modi spoke about India’s extensive infrastructure investment and efforts to become a global manufacturing hub in renewable energy sectors.
• He noted the increase in income for the common people due to these efforts.
• The Prime Minister emphasized the participation of women in India’s economic development across various sectors.
• Modi invited countries to join India’s development journey.
• Despite the absence of Chinese President Xi Jinping, other leaders from South Africa, Brazil, and Russia attended the BRICS summit.
• The summit focused on global developments and utilizing the BRICS platform to address global challenges.
• The summit’s theme was “BRICS and Africa: Partnership for mutually accelerated growth, sustainable development, and inclusive multilateralism.”
• Modi had bilateral meetings with South African President Cyril Ramaphosa and participated in plenary sessions.
• He praised mutual trust and transparency for making a significant impact, particularly in the Global South.
• Ramaphosa highlighted Africa’s young and urbanizing population as an opportunity for BRICS countries to contribute to the continent’s growth.