May 31, 2020 | 3:37 PM IST
brics summit

PM Modi attends two-day BRICS summit

Prime Minister Narendra Modi is in Brasilia, Brazil to attend the 11th BRICS Summit based on the theme ‘Economic Growth for an Innovative Future’. The two-day BRICS session’s prime focus has been on challenges and opportunities for the exercise of national sovereignty in the contemporary world.
On Thursday, while addressing the member nations - Brazil, Russia, India, China, and South Africa, PM Modi urged the participating nations to invest in India’s infrastructure development. He also added that he is looking forward to holding discussions with the nations on greater cooperation in a wide range of areas.
He said, “I look forward to exchanging views with other BRICS leaders to further strengthen intra-BRICS cooperation. Our business and industry play an important role in Intra-BRICS ties. I will be addressing BRICS Business Forum and interacting with BRICS Business Council and New Development Bank.”
Urging the BRICS nations to chalk out details to boost investment into joint ventures by the next BRICS summit, Modi said, “Diversity between our member nations is another important factor that can contribute to boosting trade ties.

The PM took the opportunity to thank the Brazilian President Jair Bolsonaro for granting visa-free entry to Indians in Brazil for travelling.
On the inaugural day of the summit, on Wednesday, PM Modi while addressing the meet said that the summit will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies. He said that India aims to be a $5 trillion economy by 2024.
Later, he also held separate bilateral meets with Russian President Vladimir Putin and Chinese President Xi Jinping.
It may be noted that the five nations account for 50% of the world’s economic development and has 13.24% of World Bank voting power.

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