BRICS eco power growing twice as fast as world: PM Modi

New Delhi: Prime Minister Narendra Modi on Friday said the economic strength of BRICS was expanding at nearly twice the pace of the rest of the world, as he called for deeper trade, investment, technology and innovation partnerships among member countries.

Addressing the BRICS Business Forum, Modi said the grouping, which began with four countries, has grown into a 21-country family representing nearly half the world’s population and around 40 per cent of global GDP.

Highlighting BRICS’ rapid economic rise, Modi said that while global GDP had increased about 2.5 times, the combined GDP of BRICS countries had expanded nearly 4.5 times over the same broad period.

“This means the economic strength of BRICS has grown at almost twice the pace of the rest of the world,” he said.

Modi said BRICS countries were also emerging as important centres of innovation and solutions, creating opportunities ranging from grassroots initiatives to frontier technologies.

Calling the India-hosted gathering the largest BRICS Business Forum so far, the Prime Minister said its scale reflected the growing expectations from the grouping. At a time of increasing global trade disruptions, Modi said India was focused on creating economic links instead of barriers. “Today, when trade disruptions are increasing across the world, India is building economic bridges,” he said, adding that India had entered into free trade agreements with nearly 40 countries since 2014.

Under India’s BRICS presidency, cooperation networks have been created in agriculture, healthcare, skills and smart grids. Initiatives including the

Highlighting India's digital transformation, Modi said UPI had expanded financial inclusion and digital payments on a massive scale, with India accounting for around half of the world's real-time digital transactions.

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Purna Singh

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Purna Singh Yadav is an experienced journalist specializing in politics and general reporting. With over 3 years of writing expertise in political as well as general reporting. Purna has completed her post-graduation from Amity University with specialization in public relations and advertising. When she is not immersed in writing, she can be found spending time watching movies. With three years of experience as a frontline journalist, she has honed her craft in various genres, including entertainment, crime, and education. Purna's diverse family history and embrace of cultures as well as good communication skills have enriched her writing with unique perspectives.

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