PM Modi's message for BRICS: Mutual trust, transparency can see us make big impact in Global South

In his address at the forum, 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 said that there is a special focus being laid on public sector delivery, and in the last few years, the ease of doing business in India has improved due to the work done in the mission mode.

"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.

He said that investor confidence has increased after the implementation of the GST and Insolvency and Bankruptcy Code in India.

"Investor confidence has increased after the implementation of GST and Insolvency and Bankruptcy code in India. Defence and Space sectors opened for the private sector...With the use of technology, we have taken a leap in financial inclusion...Today, UPI is being used by street vendors to shopping malls...We are actively taking steps to make India a manufacturing hub in the areas of solar energy, wind energy, electric vehicles and green hydrogen," he added.

He expressed gratitude towardsSouth African President Cyril Ramaphosa for inviting him and organizing the meeting.

"My heartiest congratulations on the 10th anniversary of theBRICSbusiness council. In the last 10 years, theBRICSBusiness Council has played a vital role in enhancing our economic cooperation,"PM Modisaid.

BRICScame as a ray of hope for the world economy in 2009 when it was first held.

"In 2009, when the firstBRICSSummit was held, the world was just coming out of a massive financial crisis. At that time,BRICSemerged as a ray of hope for the global economy. In the present times also, amongst the Covid pandemic, tensions and disputes, the world is dealing with economic challenges and in such times, once again the role ofBRICSis important," he added.

PM Modisaid that India has converted the crisis into an opportunity. "We have enforced reforms in mission mode, removed the red tape and have seen a boost in investor confidence."

Prime Minister Modi attendedBRICSBusiness Forum Leaders' Dialogue inJohannesburg,South Africaon Tuesday. Leaders ofBRICSCountries Brazil, Russia, India, China, andSouth Africawere also present at the Business Forum.

PM Modiarrived inSouth Africaearlier today, where he will attend the 15thBRICSSummit inJohannesburgfrom August 22-24 at the invitation of the countrys presidentMatamela Cyril Ramaphosa.

PM Modisaid he looks forward to holding bilateral meetings with "some of the leaders present inJohannesburg".

"BRICShas been pursuing a solid cooperation agenda across various sectors. We value thatBRICS 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.

TheBRICSsummit is being held from August 22-24. This will bePM Modi's third visit toSouth Africaand the trip marks the 30th anniversary of the diplomatic relationship between India andSouth Africa.

This year'sBRICSis under the presidency ofSouth Africa. The theme of this year's summit is: "BRICSand Africa: Partnership for mutually accelerated growth, sustainable development and inclusive multilateralism." (ANI)