The Prime Minister of India Narendra Modi gave a rousing speech at the BRICS summit in Johannesburg on Wednesday. He said that the BRICS bloc will usher into a new financial era by the end of the decade. Modi stressed that in the next seven years, the BRICS alliance will break all barriers and revitalize developing economies around the world. The PM focused on innovation and opportunities for all that would inspire other countries to follow suit.
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Modi’s speech about entering a new era came hours before India successfully landed a rover at the South Pole of the Moon. “In next 7 years, BRICS will be breaking barriers, revitalizing economies, inspiring innovations, creating opportunities, and shaping futures,” said PM Modi.
India Agrees to BRICS Expansion: Narendra Modi
Modi said in a speech in South Africa that India supports a consensus-based BRICS expansion. He asserted that the alliance is “future-ready” and the expansion of the grouping should be made based on consensus. “We will have to make our societies future-ready to make BRICS future-ready,” he said.
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India’s willingness to BRICS expansion signals that the alliance could become BRICS+ by the end of the year. According to reports, these five new countries could be inducted into the bloc this month.
The PM also highlighted the Global South bodies and said that the country has given the highest priority to G20 under his leadership. “India has given highest priority to countries of Global South under its G20 presidency,” he said.
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Modi said that the New Development Bank (NDB) will play an important role in developing the Global South bodies. “New Development Bank of BRICS playing important role in development Global South,” he summed it up.
BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The ongoing summit in South Africa saw an attendance of 40 heads of State from Africa, Asia, and South American countries.