BRICS Summit 2023: 'We embarked on long and amazing journey in last two decades,' says Modi

The Prime minister further said New Development Bank of BRICS playing important role in development Global South.

Johannesburg (South Africa):Prime MinisterNarendra Modi on Wednesday said that BRICS embarked on long and amazing journey in last two decades. The Prime minister further said New Development Bank of BRICS playing important role in development Global South. He was speaking at five-nation summit here. Significant progress in measures suggested by India in areas of Railway research networks, cooperation among MSMEs, and start-ups, he added.

Prime Minister Narendra Modi participated in the BRICS Leaders Retreat at the Summer Place in Johannesburg on 22 August Tuesday. Upon arrival at the Summer Place, Prime Minister was accorded a warm welcome by the President of South Africa and Chair of 15th BRICS Summit, Cyril Ramaphosa.

The Retreat which took place in closed format, was an opportunity for the leaders to discuss global developments and ways for leveraging the BRICS platform to find solutions to global challenges. It is important to note that the BRICS summit comes at a very critical time, especially amid the differences between India and China. Months ago, there was speculation that New Delhi is hesitant about the expansion of BRICS because of China’s presence and also as the country seeks to position itself as the leader of the global South.

However, India’s Ministry of External Affairs spokesperson Arindam Bagchi immediately cleared the air and said, “We have seen some baseless speculation that India has reservations against the expansion. This is simply not true”. "We have talked about India's position on expansion and we have clarified our position in the past. As mandated by the leaders last year, BRICS members are internally discussing the guiding principles, standards, criteria, and procedures for the BRICS expansion process based on full consultations and consensus”, he added.

Meanwhile, addressing a special media briefing on Monday, Aug. 21, Foreign Secretary Vinay Kwatra said that India has a positive intent and an open mind when it comes to BRICS expansion. He noted that the Expansion of BRICS is a major agenda item of the summit. Around 23 countries have submitted their applications for membership in the grouping. The foreign secretary said the modalities for the inclusion of new members into the BRICS are being discussed among the Sherpas of the grouping.

Addressing the BRICS business forum leaders dialogue, PM Modi said that India is the fastest-growing major economy in the world and soon, it will be a 5 trillion dollar economy.

He noted that India will be the growth engine of the world. It's because India turned calamity and tough times into economic reforms. "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 emphasized on Public service delivery and good governance" he pointed out.

Later today, PM Modi is scheduled to hold bilateral meeting with South African President Cyril Ramaphosa on the sidelines of the BRICS summit. However, all eyes are on the possible meeting with Chinese President Xi Jinping and if the meeting takes place, it will be the first such meeting between the two leaders.

Brazilian President, Chinese President Xi and Russian foreign minister Sergey Lavrov attended the event. BRICS is the grouping of the world economies of Brazil, Russia, China, India, and South Africa. This is the third visit by PM Modi to South Africa and the trip marks the 30th anniversary of the diplomatic relations between South Africa and India. (with PTI inputs)