PMINDIA

Your Highness,
Excellencies,

Ladies and Gentlemen,

Congratulations to President Putin for the excellent organisation of the 16th BRICS Summit.

And, once again, a warm welcome to all the new friends who have joined BRICS. In its new avatar, BRICS accounts for 40 per cent of the world’s humanity and about 30 per cent of the global economy.

In the last nearly two decades, BRICS has achieved many milestones.I am confident that in the times to come, this organisation will emerge as a more effective medium to face global challenges.

I would also like to convey warm greetings to Her Excellency Dilma Rousseff, President of the New Development Bank.

Friends,

In the last ten years, this bank has emerged as an important option for the development needs of the countries of the Global South.The opening of GIFT or Gujarat International Finance Tech City in India as well as regional centres in Africa and Russia has boosted the activities of this bank. And, development projects worth about USD 35 billion have been sanctioned. NDB should continue to work on the basis of the demand driven principle. And, while expanding the bank, ensuring long-term financial sustainability, healthy credit rating and market access should remain a priority.

Friends,

In its new expanded avatar, BRICS has emerged as an economy of more than USD 30 trillion dollars.The BRICS Business Council and the BRICS Women Business Alliance have played a special role in increasing our economic cooperation.

This year, the consensus reached within BRICS on WTO reforms, trade facilitation in Agriculture, resilient supply chains, e-commerce and Special Economic Zones will strengthen our economic cooperation.Amidst all these initiatives, we should also focus on the interests of small and medium scale industries.

I am pleased that the BRICS Startup Forum proposed during India’s presidency in 2021 will be launched this year. The Railway Research Network initiative taken by India is also playing an important role in increasing logistics and supply chain connectivity among BRICS countries. This year, the consensus reached by BRICS countries, in collaboration with UNIDO, to prepare a skilled work force for Industry 4.0 is quite significant.

The BRICS Vaccine R&D Centre launched in 2022 is helping increase health security in all the countries. We would be happy to share India’s successful experience in Digital Health with BRICS partners.

Friends,

Climate Change has been a subject of our common priority.

The consensus reached for the BRICS Open Carbon Market Partnership under Russia’s presidency is welcome. In India too, special emphasis is being laid on green growth, climate resilient infrastructure and green transition. Indeed, India has taken up several initiatives like the International Solar Alliance, Coalition for Disaster Resilient Infrastructure, Mission LiFE i.e. Lifestyle for Environment, Ek Ped Maa Ke Naam or a Tree in the name of mother.

Last year, during COP-28, we started an important initiative called Green Credit.I invite BRICS partners to join these initiatives.

Special emphasis is being laid on the construction of infrastructure in all BRICS countries.

We have established a digital platform called the Gati-Shakti portal to rapidly expand multi-modal connectivity in India. This has helped in integrated infrastructure development planning and implementation and has reduced logistics costs.

We will be happy to share our experiences with all of you.

Friends,

We welcome efforts to increase financial integration among BRICS countries.

Trade in local currencies and smooth cross-border payments will strengthen our economic cooperation. The Unified Payments Interface (UPI) developed by India is a huge success story and has been adopted in many countries.

Last year, together with His Highness Sheikh Mohamed, it was launched in the UAE as well. We can also cooperate with other BRICS countries in this area.

Friends,

India is fully committed to increasing cooperation under BRICS.

Our strong belief in our diversity and multipolarity is our strength. This strength of ours, and our shared belief in humanity, will help in giving a meaningful shape to a prosperous and a bright future for the generations to come.

I thank everyone for today’s very important and valuable discussions.

As the next President of BRICS, I extend my heartfelt best wishes to President Lula. India will give its full support for the success of your BRICS presidency.

Once again, many thanks to President Putin and all the leaders.