Modi calls on business communities to work with BRICS

Prime Minister Narendra Modi appealed to business leaders to work with BRICS governments to boost trade and promote innovation.

Addressing a meeting of the BRICS Business Council on Sunday at the 8th BRICS Summit in Goa, Modi also called on the BRICS Business Council to enhance business opportunities, building investment linkages and removing bottlenecks to intra-BRICS commerce, Xinhua news agency reported.

"The promotion of economic and commercial engagement has been the foundational impulse in the creation of BRICS. The business community is the strongest proponent for closer and faster commercial cooperation that could help create wealth," Modi said.

He also encouraged the council to work closely with the New Development Bank, a multilateral development bank founded by the BRICS countries, on identifying and implementing prospective economic projects.

Speaking at the same occasion, South African President Jacob Zuma also commended the work of the council.

"The BRICS Business Council activities since undertaken through Durban Summit, have brought us to a point where the council can be a true catalyst for economic growth," he said.

Meanwhile, Russian President Vladimir Putin said: "Russia will continue to promote rapprochement of economies of the five BRICS countries. It invites business communities of all the BRICS countries to work on Russia's market and develop partnership with the Russian companies.

The BRICS Business Council was established during the 5th BRICS Summit held in 2013 in Durban, South Africa.

--IANS

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