'Economic Growth Essential For An Innovative Future': PM Narendra Modi At BRICS Summit

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PM Modi on Thursday addressed the 11th BRICS Plenary Session in Brazil. Prime Minister Modi emphasised on the growth of trade between the member countries

Written By Misha Bhatt | Mumbai | Updated On:

Prime Minister Narendra Modi on Thursday addressed the 11th BRICS Plenary Session in Brazil. During his address, he emphasized on various key elements like trade investments between BRICS nations, Fit India Movement, etc. While talking about the economy and emphasising on economic growth for an innovative future, PM Modi said, "Economic growth for an innovative future", is very accurate. Innovation has become the basis of our development. Therefore, "it is necessary that we strengthen cooperation under BRICS for innovation".

PM Modi also highlighted the Intra-BRICS trade and said how the group should focus on trade with each other. "We need to pay special attention to mutual trade and investment. Intra-BRICS trade accounts for just 15% of world trade, while our combined population is more than 40% of the world's population" he said. While adding further on how BRICS can still increase its efforts in more areas, he said, "Now we have to consider the direction of BRICS, and cooperation to be more effective in the next ten years. Despite success in many areas, there is considerable scope to increase efforts in some areas."

At the BRICS summit, PM Modi also spoke about the Fit India movement and added that there is a need between the BRICS nations to increase exchanges and activities on the grounds of health and fitness. 

In other announcements, PM Modi put forward a proposal to hold the first meeting of BRICS Water Ministers in India. He also expressed his happiness over the first BRICS Strategies for Countering Terrorism program. While talking about providing a conducive environment for travel and work between the BRICS nations, PM Modi said, "With mutual recognition of visas, social security agreement and qualifications, we will provide a more conducive environment for people of five countries to travel and work."

READ | 11th BRICS Summit opens in Brazil: Russia, India, China, and S. Africa participate

11th BRICS Summit

Leaders of Brazil, Russia, India, China, and South Africa on Thursday opened the 11th BRICS Summit at the iconic Itamaraty Palace where deliberations are expected to focus on key areas such as trade, investment, and counter-terrorism. Brazilian President Jair Bolsonaro welcomed Prime Minister Narendra Modi and Presidents of China, Russia, and South Africa — Xi Jinping, Vladimir Putin, and Cyril Ramaphosa respectively at the palace, headquarters of the Brazilian Ministry of Foreign Affairs.

READ | Chinese President Xi Jinping addresses BRICS Business Council in Brazil

READ | PM Modi addresses the BRICS Business Council held in Brazil

READ | Russian President Vladimir Putin addresses BRICS Business Council in Brazil

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