Daijiworld Media Network - New Delhi
New Delhi, Sep 11: Prime Minister Narendra Modi on Friday said India is maintaining its fast pace of growth despite global uncertainties, describing the country as a source of confidence for growth and stability.
Addressing the Leaders Session of the BRICS Business Forum alongside Russian President Vladimir Putin, Iranian President Masoud Pezeshkian and South African President Cyril Ramaphosa, among others, Modi said, “India is growing when the world is going through instability. Amid global uncertainties, India today offers a source of confidence for growth and stability.”
His remarks came against the backdrop of India recording 7.8 per cent GDP growth in the April-June quarter of the current financial year, retaining its position as the world's fastest-growing major economy.
Highlighting India's approach to global trade, Modi said, “Today, when trade barriers are rising around the world, India is building economic bridges.”
He outlined India's vision for global manufacturing and innovation with the message: “Make in India, Innovate with India, Scale for the World.”
The Prime Minister said the economic strength of BRICS has grown at nearly twice the pace of the rest of the world and that the grouping's nations are emerging as key hubs for global innovation and solutions.
“New possibilities for innovation, spanning everything from grassroots initiatives to frontier technologies, are taking shape within our countries. The growing scale, speed, and optimism of BRICS are clearly evident among us. This forum, hosted in India, is the largest BRICS Business Forum to date,” Modi said.
He added that BRICS countries are becoming important centres for global innovations and solutions.
Calling for greater collective action, Modi said, “Let's turn BRICS’ ambition into action and collective strength into global solutions. Let BRICS move forward, and take the world forward too.”
Underlining the growing economic weight of the grouping, Modi said BRICS represents nearly half of the world's population and accounts for 40 per cent of global GDP.
“Today, BRICS nations represent 50 per cent of the world's population, 40 per cent of its GDP, and over 25 per cent of global trade. Moreover, while global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold,” the Prime Minister said.