NEW DELHI: India supports innovation across every sector and its digital sector valuations will cross USD 1 trillion by 2025, said Prime Minister Narendra Modi on Wednesday as he underlined the role of BRICS countries amid the global focus on post covid recovery.
The Prime Minister made these remarks at the opening ceremony of the BRICS Business Forum being hosted by China in a virtual mode.
“BRICS was established with the belief that this group of emerging economies could emerge as engines of global growth. Today, when the world is focusing on post covid recovery, the role of BRICS countries will be very important,” said PM Modi in a recorded keynote speech.
“India supports innovation across every sector including drones, green energy and space. By 2025, India’s digital sector value will cross USD 1 trillion valuations,” he said.
The Prime Minister noted that this year India is expecting 7.5 per cent growth. “Which makes us the fastest-growing major economy. Transformative changes are taking place in every sector of emerging New India,” he added.
He also emphasised that India’s success is based on technology-led growth with innovation and startups. “The government emphasises on ‘Ease of Living’, building infrastructure with PM GatiShakti, digital transformation and digital economy.”
PM Modi will be attending the 14th BRICS summit in a virtual mode on June 23-24.
“At the invitation of President Xi Jinping, Prime Minister Narendra Modi will be attending the 14th BRICS Summit hosted by China in virtual mode on 23-24 June 2022. This includes a High-Level Dialogue on Global Development with guest countries on June 24,” the Ministry of External Affairs said in an earlier statement.
The summit will host a High-Level Dialogue on Global Development with guest countries on June 24.
BRICS has become a platform for discussing and deliberating on issues of common concern for all developing countries. BRICS countries have regularly called for reform of the multilateral system in order to make it more representative and inclusive.
Discussions during the 14th BRICS Summit will cover intra-BRICS cooperation in areas such as counter-terrorism, trade, health, traditional medicine, environment, S&T and innovation, agriculture, technical and vocational education & training, and MSMEs.
The discussions are also likely on issues like reform of the multilateral system, combating the COVID-19 pandemic and global economic recovery, amongst others.
Chinese President Xi Jinping will host the High-level Dialogue on Global Development in Beijing on June 24. The Summit will be held in virtual format under the theme of “Foster High-quality BRICS Partnership, Usher in a New Era for Global Development.”
BRICS is a multilateral forum consisting of five major emerging economies of the world, namely Brazil, Russia, India, China and South Africa. (ANI)
PM Modi to visit Germany and UAE
Prime Minister Narendra Modi will be visiting Schloss Elmau, Germany for the G7 Summit on June 26-27 and will also travel to UAE while coming back to India.
PM Modi is travelling to the country at the invitation of the Chancellor of Germany, Olaf Scholz.
“During the Summit, Prime Minister Modi is expected to speak in two sessions that include environment, energy, climate, food security, health, gender equality and democracy. In an effort to strengthen international collaboration on these important issues, other democracies such as Argentina, Indonesia, Senegal and South Africa have also been invited,” MEA said in a statement.
After attending the G7 Summit, Prime Minister will be travelling to United Arab Emirates (UAE) on June 28, 2022, to pay his personal condolences on the passing away of Sheikh Khalifa bin Zayed Al Nahyan, the former UAE President and Abu Dhabi Ruler.
The Ministry statement added, “PM Modi will also take the opportunity to congratulate Sheikh Mohamed bin Zayed Al Nahyan on his election as the new President of UAE and Ruler of Abu Dhabi.”
Prime Minister Modi will depart from UAE the same night on June 28.
On the sidelines of the Summit, PM Modi will hold bilateral meetings with leaders of some of the participating countries.
The G7 Summit invitation is in keeping with the tradition of strong and close partnership and high-level political contacts between India and Germany.
PM Modi’s last visit to Germany was on May 2, 2022, for the sixth edition of the India-Germany Inter-Governmental Consultations (IGC).
During the sixth Inter-Governmental Consultation, India and Germany agreed to develop the hydrogen roadmap in their agreement for green and sustainable development, according to the joint statement.
In the statement both the countries agreed to establish an Indo-German renewable energy partnership, focusing on innovative solar energy and other renewables, including the associated challenges for electricity grids, storage and market design to facilitate a just energy transition.
Prime Minister Modi was in Germany on the first leg of his three-day Europe visit. He received a ceremonial guard of honour followed by a bilateral meeting with the German chancellor Olaf Scholz. This was their first engagement since Chancellor Scholz assumed office in December 2021. (ANI)