BRICS members have a similar approach to governance of the global economy: PM Modi


New Delhi, 23 June

Prime Minister Narendra Modi on Thursday said that BRICS member countries have a common vision for governance of the global economy and mutual cooperation can make a useful contribution to the post-Covid economic recovery.

The Prime Minister said this in his opening remarks at the virtual BRICS annual summit in the presence of Chinese President Xi Jinping, Russian President Vladimir Putin and top leaders of Brazil and South Africa. The summit is being hosted by China as its chairman this year.

BRICS (Brazil-Russia-India-China-South Africa) brings together the world’s five largest developing countries, representing 41 per cent of the global population, 24 per cent of global GDP and 16 per cent of global trade. ,

“Our mutual cooperation can make a useful contribution to the global post-Covid recovery,” Modi said.

He said that the structural changes made in BRICS over the years have increased the influence of the grouping.

It is heartening that membership of the New Development Bank (NDB) has increased, Modi said, adding that adding cooperation among member countries has benefited their citizens.

“I am sure that our deliberations today will provide suggestions to further strengthen our relations,” he said.

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