BRICS Business Council creates a roadmap to achieve $ 500 billion Intra-BRICS trade target by the next summit: PM Modi

Prime Minister Narendra Modi along with the Heads of states of other BRICS countries participated in the Leaders dialogue with BRICS Business Council and New Development Bank. Prime Minister said that the BRICS Business Council created a roadmap to achieve the $ 500 billion Intra-BRICS trade target by the next summit and identification of economic complementarities among BRICS countries would be important in this effort. The partnership agreement between New Development Bank and BRICS Business Council would be useful for both the institutions, he added. PM requested BRICS countries and NDB to join Coalition for Disaster Resilient Infrastructure initiative. He also requested that the work of establishing the Regional Office of NDB in India should be completed soon. This will give a boost to projects in priority areas, he added.PM concluded that our dream of strengthening BRICS economic cooperation can be realized only with the full cooperation of the Business Council and New Development Bank. Prime Minister Narendra Modi participated part in this year’s BRICS Summit in Brazil on 13th and 14th November. The Summit’s theme is ‘Economic growth for an innovative future. ‘Before his departure, he said “I look forward to holding discussions with BRICS leaders on greater cooperation in a wide range of areas. On the sidelines of this Summit, I would be addressing the BRICS Business Forum and interacting with BRICS Business Council as well as the New Development Bank. Improving economic linkages augur well for the BRICS nations. The visit to Brazil will give me an opportunity to hold talks with the President of Brazil on ways to deepen the India-Brazil strategic partnership. There is great potential in sectors like trade, defence, agriculture and energy.”, the PM said. Incidentally, Brazil, Russia, India, China and South Africa comprise BRICS. On the sidelines of the summit, PM Modi had interaction with Russian President Vladimir Putin, Chinese President Xi Jinping and Brazilian President Jair Bolsonoro. The Summit’s theme is ‘Economic growth for an innovative future.’ I look forward to holding discussions with BRICS leaders on greater cooperation in a wide range of areas.