At the BRICS Business Forum in New Delhi on Friday, Russian President Vladimir Putin emphasized the economic significance of the BRICS grouping, asserting that it plays a more substantial role in the global economy compared to the G7. Prime Minister Narendra Modi echoed this sentiment later in the event, using the same statistics to underscore the importance of BRICS, which has expanded to include 21 member countries.
Today, I look forward to discussing these matters with you.” The BRICS Business Forum is the flagship private-sector platform of the grouping that’s convened annually in the host country on the eve of the Leaders’ Summit. India remains committed to ensuring that this cooperation benefits our farmers, empowers women and provides greater opportunities to young entrepreneurs and MSMEs. “They also shared perspectives on key regional and global issues of mutual interest, including the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers. Prime Minister once again reiterated that dialogue and diplomacy was the way forward in resolving conflicts and India stood ready to assist in peace efforts. The MEA statement added, “President Putin invited Prime Minister Modi to visit Russia for the 24th India-Russia Annual Summit. Prime Minister accepted the invitation. The dates of the Summit will be decided as per mutual convenience through diplomatic channels. “Every day spent in war sets humanity back, whereas every step taken towards peace fills humanity with new hope and enthusiasm. We must move away from endless war and an end to the war. This is essential for the well-being of humanity. PM Modi added then on what he raised with Putin, “We have consistently discussed the issue of Ukraine. As you know, India supports all efforts towards peace and will continue to do so. A peaceful resolution to all issues at the earliest is the call of humanity, and this is India’s message. The land of Gandhi and the land of Buddha share a single message- the path of peace.
Putin said, “Over the last five years, more than 40 per cent of the world GDP (gross domestic product) has been produced by the BRICS countries, whereas the contribution of the so-called G7, the Group of Seven — I don’t know why they call that the Group of Seven — stands at only 29 per cent. The two leaders had met earlier in Bishkek, Kyrgyzstan, on the sidelines of the 26th SCO Summit on August 31. In Bishkek on August 31, PM Modi said that India supports all efforts towards peace in the Ukraine war.
At its opening ceremony, Commerce Minister Piyush Goyal said, “During India’s chairship of BRICS, we have been driven by a clear purpose to achieve more balanced trade among our countries and explore the expansion of trade in services across the BRICS family. “The two leaders reviewed progress in bilateral cooperation in political, economic, defence, energy, space, skill mobility and people-to- people domains,” read a statement by the Indian Ministry of External Affairs.
Earlier, PM Modi and President Putin held bilateral talks on the margins of the 18th BRICS Summit in New Delhi in what was their second meeting this year. When we met previously, you briefed me in detail on all aspects of the matter.
