Prime Minister Narendra Modi on Monday sought a strong partnership among BRICS nations to spur growth, saying that the bloc has developed a robust framework for cooperation and contributed to the stability in a world “drifting towards uncertainty“.
Addressing the plenary session of the BRICS Summit in China’s Xiamen city, Mr. Modi said trade and economy were the foundations of the cooperation among BRICS — Brazil-Russia- India-China-South Africa.
He also called for the creation of a BRICS rating agency to cater to financing needs of sovereign and corporate entities of developing countries.
Prime Minister Narendra Mod being greeted by Chinese President Xi Jinping as he arrives for a group photo during the BRICS Summit in Xiamen, China's Fujian Province on Monday. | Photo Credit: AFP
The Prime Minister said a strong partnership among member nations on innovation and digital economy can help spur growth, promote transparency and support the sustainable development goals.
He also urged central banks of member nation to further strengthen their capabilities and promote cooperation between the Contingent Reserve Arrangement of the grouping and the International Monetary Fund.
Mr. Modi emphasised the need to accelerate track of cooperation in smart cities, urbanisation and disaster management.
“BRICS has developed a robust framework for cooperation; contribute stability and growth in a world drifting towards uncertainty. Our endeavours today touch diverse areas of agriculture, culture, environment, energy, sports and Information and Communications Technology (ICT),” he said.
'Mission-mode to eradicate poverty'
Mr. Modi asserted that the grouping was in a “mission-mode” to eradicate poverty and ensure health, sanitation, skills, food security, gender equality, energy and education.
He said women’s empowerment programmes were “productivity multipliers” that mainstream women in nation building.
The BRICS Summit began here on Monday with a group photograph of leaders of the five countries and was preceded by a warm handshake between Prime Minister Narendra Modi and Chinese President Xi Jinping, who received the leaders of Brazil, Russia and South Africa ahead of the restricted meeting of the grouping.
Mr. Modi was the third leader to reach the convention centre, venue of the 9th BRICS Summit in this port city of China and was followed by Russian President Vladimir Putin. Modi is also scheduled to hold a bilateral meeting with Mr. Xi on Tuesday.
The Summit will be the first gathering when the leaders of Brazil, Russia, India, China and South Africa will meet after New Delhi and Beijing decided on “expeditious disengagement” of their border troops in the disputed Dokalam area on August 28 after over a two month standoff between them.
They will also deliberate on international issues of significance, including global economy and challenges.
The Summit will end with the adoption of a Xiamen declaration, which will capture the essence of the deliberations and future road map.