New Delhi: Prime Minister Narendra Modi on Wednesday participated at the BRICS Leaders Retreat where the leaders of the grouping deliberated on global developments and explore how to utilise the BRICS

New Delhi: Prime Minister Narendra Modi on Wednesday participated at the BRICS Leaders Retreat where the leaders of the grouping deliberated on global developments and explore how to utilise the BRICS platform effectively to address and resolve global challenges.

“India believes in ‘Make in India, Make for the World.’ Over the last few years we have made immense strides in IT, semiconductors and other such futuristic sectors. Our economic vision also places immense importance on empowerment of women,” PM Modi said, according to a report by Republic World.

PM Modi was welcomed by South African President Cyril Ramaphosa.
Brazil’s President Luiz Inacio Lula da Silva, Chinese President Xi Jinping and Russia Foreign Minister Sergei Lavrov are attending the BRICS Leaders Retreat. During the ceremony, the leaders deliberated on global developments and on leveraging the BRICS platform to find solutions to global challenges.

During the retreat ceremony, the heads of delegations of the BRICS member states posed for a group photograph. Meanwhile, PM Modi in a special message at the BRICS Business Forum said mutual trust and transparency can help create a big impact, especially in the Global South.

“There is no doubt that India will become the world’s growth engine. This is because India took challenges as an oppotunity for economic reforms,” he said. “With the use of technology, India has made major leaps in financial inclusion, benefiting rural women the most. In the last 9 years, people’s income has almost doubled,” the Prime Minister said in the short address.

“Despite the global crisis,India is still the fastest-growing major economy and will soon be a $5 trillion economy. From street vendors to shopping malls, UPI is being utilised because of which India now has the most amonunt of digital transactions in the world. UPI is being used everywhere in India. India has the third largest startup ecosystem in the world,” the Prime Minister said.

Pointing to the new investment opportunities opening up in the country, PM Modi said, “Today highways are being constructed at high speed. Soon, India is set to become a hub in green hydrogen, and will also become a market for renewable energy. I invite you to be part of India’s journey..mutual trust and transparency can see us make a big impact, especially in the Global South.”

The Prime Minister emphasized that there is a specific emphasis on enhancing public sector performance, and over the recent years, the ease of doing business in India has improved through mission-oriented endeavors. “In the last few years, the ease of doing business in India has improved due to the work done in the mission mode…We have focused on public service delivery and good governance…Today in India UPI is used at all levels…Today among all countries in the world, India is the country with the highest digital transaction,” PM Modi said at BRICS Business Forum Leaders’ Dialogue in Johannesburg, South Africa.

Despite the attendance of South Africa’s Cyril Ramaphosa, Brazil’s President Luiz Inacio Lula da Silva, and India’s Prime Minister Narendra Modi, Chinese President Xi Jingping was notably absent from the event. Russia foreign minister Sergei Lavrov was present at the event.

PM Modi arrived in South Africa earlier on Tuesday to attend the 15th BRICS Summit in Johannesburg from August 22-24 at the invitation of the country’s president Matamela Cyril Ramaphosa. PM Modi said he looks forward to holding bilateral meetings with “some of the leaders present in Johannesburg”.

“BRICS has been pursuing a solid cooperation agenda across various sectors. We value that BRICS has become a platform for discussing and deliberating on issues of concern for the entire Global South, including development imperatives and reform of the multilateral system,” the PM said in a statement.

This will be PM Modi’s third visit to South Africa and the trip marks the 30th anniversary of the diplomatic relationship between India and South Africa. This year’s BRICS is under the presidency of South Africa. The theme of this year’s summit is: “BRICS and Africa: Partnership for mutually accelerated growth, sustainable development and inclusive multilateralism.”

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