Looking forward to bilaterals… India will soon be a global growth engine: PM Modi at BRICS Business Forum

Speaking at the BRICS Business Forum leaders’ dialogue earlier in the evening, Modi said the people of India have made a commitment to make it a developed country by 2047. “I invite all of you to participate in India’s development journey,” he said.

“Covid-19 pandemic has taught us the importance of resilient and inclusive supply chains. Mutual trust and transparency is very important to achieve this. We can collectively work towards the welfare of the Global South and make a significant contribution towards that,” he said.

Stressing that India will become a US$ 5-trillion economy soon, Modi said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with “mission-mode” reforms being undertaken by his government.

Prime Minister Narendra Modi, President Xi Jinping with other BRICS leaders in Johannesburg Tuesday. (Image source: MEA on X)

He told the gathering that India has the world’s third-largest start-up ecosystem and there are over 100 unicorns in the country.

Modi, who landed at the Waterkloof Air Force Base in South Africa, was received by South Africa’s Deputy President Paul Mashatile and was accorded a ceremonial welcome.

“PM’s three-day visit to South Africa entails participation in the 15th BRICS Summit and engagements with leaders of BRICS and invited countries in plurilateral and bilateral settings,” the Ministry of External Affairs’ official spokesperson Arindam Bagchi tweeted.

Earlier in the day, as he left for the summit, Modi expressed confidence that it would provide a useful opportunity for its members to identify future areas of cooperation and review institutional development.

In his departure statement, he said BRICS has been pursuing a strong 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,” he said.

This summit will provide a useful opportunity for BRICS to identify future areas of cooperation and review institutional development, he said. “I also look forward to holding bilateral meetings with some of the leaders present in Johannesburg,” he said.

“Leaving for South Africa to take part in the BRICS Summit being held in Johannesburg. I will also take part in the BRICS-Africa Outreach and BRICS Plus Dialogue events. The Summit will give the platform to discuss issues of concern for the Global South and other areas of development,” he tweeted.

Modi is visiting the South African city from August 22 to 24, at the invitation of South African President Cyril Ramaphosa. The BRICS summit is being held in-person this time, after three years of virtual meetings.

On Wednesday, Modi will participate in the plenary sessions of the BRICS leaders’ summit — there will be a closed plenary session which will focus on intra-BRICS issues, reform of the multilateral system and counter-terrorism.

On Thursday, he will participate in a special event, “BRICS – Africa Outreach and BRICS Plus Dialogue”, being organised after the summit, which will include other countries invited by South Africa. During these sessions, the concerns and priorities of the Global South will be discussed, where the focus will be on partnership with Africa.

On August 25, Modi will travel to Athens at the invitation of his Greece counterpart Kyriakos Mitsotakis. “I have the honour to be the first Indian Prime Minister to visit Greece after 40 years,” he said in his departure statement.

“Contacts between our two civilisations stretch back over two millennia and, in modern times, our ties have been strengthened by shared values of democracy, rule of law and pluralism,” he said.

Cooperation in diverse sectors such as trade and investment, defence, and cultural and people-to-people contacts have been bringing our two countries closer, he said. Modi said he looked forward to visiting Greece and opening a new chapter in the multifaceted relationship, adding that he would also be interacting with the Indian community there.