Narendra Modi woos business leaders at BRICS; urges them to invest in world's most open, investment friendly economy

Narendra Modi is in Brazil for the 11th BRICS Summit which will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies

Press Trust of India November 14, 2019 08:46:24 IST
Narendra Modi woos business leaders at BRICS; urges them to invest in world's most open, investment friendly economy
  • Terming India a land of limitless opportunities, the prime minister urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development

  • Narendra Modi is in Brazil for the 11th BRICS Summit which will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies

  • He said the BRICS nations (Brazil, Russia, India, China and South Africa) should also deliberate on mutual social security agreement

Brasalia: India is the world's most "open and investment-friendly" economy, Prime Minister Narendra Modi said here on Thursday as he wooed the BRICS business leaders and urged them to invest in the country's infrastructure development.

Addressing the closing ceremony of the BRICS Business Forum, prime minister Modi said the grouping of five countries had led to economic development despite the global economic slowdown.

Terming India a land of limitless opportunities, the prime minister urged the business leaders of the BRICS nations to invest in India, particularly in its infrastructure development.

"India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms," Modi said.

Narendra Modi woos business leaders at BRICS urges them to invest in worlds most open investment friendly economy

File image of Narendra Modi. AFP

"BRICS countries account for 50 percent of the world's economic growth. Despite the recession in the world, BRICS countries accelerated economic development, brought millions out of poverty and achieved new breakthroughs in technology and innovation," he said.

The prime minister also thanked President of Brazil Jair Bolsonaro for his government's decision to give Indians visa-free entry in the latin American country.

He said the BRICS nations (Brazil, Russia, India, China and South Africa) should also deliberate on mutual social security agreement.

"I would also like to suggest that by the next BRICS Summit, at least five such areas should be identified in which joint ventures can be formed between us on the basis of complementarities," he said.

"Important initiatives like innovation BRICS Network, and BRICS Institution for Future Network will be considered during the summit tomorrow. I request the private sector to join these efforts focused on human resources," Modi said in his brief address.

Prime minister Modi is in Brazil for the 11th BRICS Summit which will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies.

Updated Date:

also read

To understand PM Modi's political life, he has to be seen not from an isolated view but from holistic view: Amit Shah
Politics

To understand PM Modi's political life, he has to be seen not from an isolated view but from holistic view: Amit Shah

The home minister said that Prime Minister Narendra Modi thinks about the result and this thinking has brought a big change in the country

The strange case of Uniform Civil Code: How lack of political will has reduced it to a mere soundbite
Opinion

The strange case of Uniform Civil Code: How lack of political will has reduced it to a mere soundbite

The idea of a Uniform Civil Code has foundered not so much because of Muslim obstinacy, though that has been a factor, but because of a lack of political will at the Centre under successive regimes of different hues

Vote for BJP candidates in Tamil Nadu to solve problems, says Nirmala Sitharaman
India

Vote for BJP candidates in Tamil Nadu to solve problems, says Nirmala Sitharaman

Nirmala Sitharaman said Prime Minister Narendra Modi was also encouraging the party workers, leaders and legislators to work for the welfare of the people