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PM Modi lays stress on deepening economic cooperation.

PM Modi lays stress on deepening economic cooperation.

 

Goa / October 16, 2016.

Prime Minister Narendra Modi today laid stress on deepening economic cooperation between BRICS nations. In his address at the meeting with the BRICS Business Council in Goa, Mr Modi said “promoting economic and commercial engagement has been a foundational impulse in the creation of BRICS.”

Mr Modi further said “our business communities are the strongest proponents for closer and faster commercial cooperation among BRICS. Their partnerships create wealth and value in our societies. And, enhance productivity and create jobs in our economies through technological innovations and capacity addition”.

He said the government has undertaken substantial reforms in the last two years to streamline and simplify governance, especially doing business in India. “The results are clearly visible.We have moved up in almost all global indices that measure such performances.”.

PM asserted that India has been transformed into one of the most open economies in the world today.

Mr. Modi further asked BRICS Business Council to work closely with the New Development Bank on identifying and implementing prospective economic projects.

He observed that the BRICS Business Council also has matching priorities of ease of doing business, dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development. “The Council’s work holds much promise for expansion of trade and business among BRICS countries” the PM added.

 

BRICS Business Council was set up three years ago at the Durban Summit with the objective of promoting economic cooperation and  building inclusive economies through responsive and collective solutions.