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Atmanirbhar Bharat to be force multiplier in post-Covid global economy: PM

Modi seeks BRICS support on reforms in UNSC and other international bodies; says nations supporting terrorists need to be sidelined

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Indian Economy | Narendra Modi | unsc

Indivjal Dhasmana  |  New Delhi 

Narendra Modi
The prime minister said 42 per cent of the world population lives in BRICS nations and these countries are the main driver of the global economy.

Asserting that BRICS nations can play a pivotal role in the global recovery post-Covid, prime minister on Tuesday tried to sell his Atmanirbhar Bharat campaign to the grouping. He also sought support of BRICS nations in reforming the United Nations Security Council (UNSC), the World Trade Organisation (WTO), the International Monetary Fund (IMF) and the World Health Organisation (WHO).

Virtually addressing the BRICS Summit, chaired by Russian president Vladimir Putin, Modi said the countries supporting terrorists should also be blamed for terrorism.

"We have initiated a broad reform process under Atmanirbhar Bharat. This campaign is based on the principle that a self-reliant and resilient India can be a force multiplier for the post-Covid global economy and contribute to the global value chains," he said during his virtual address to the BRICS Summit, chaired by Russian president Vladimir Putin.

He said this was substantiated when India sent essential drugs to more than 150 nations battling Covid-19 on the strength of its pharma industry.

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The prime minister said 42 per cent of the world population lives in BRICS nations and these countries are the main driver of the global economy.

The prime minister pointed out that there is vast potential of increasing mutual trade among BRICS nations.

"Our mutual institutions and systems such as BRICS interbank cooperation mechanism, New Development Bank, contingent reserves arrangement and customs cooperation can make our contribution to global recovery effective," Modi said.

This was the second time that Modi and Chinese president Xi Jinping participated on the same platform in recent times, the first being the Shanghai Cooperation Organisation meeting.

He said multilateralism is passing through difficult times these days. "Credibility and effectiveness of institutions of global governance are being questioned. The main reason for this is that they have not been changed in accordance with the times. These institutions are based on the mentality and reality of the world that existed 75 years ago," the prime minister said.

India believes that the needed reforms." We expect support from BRICS nations on this," Modi said.

Besides, reforms are needed in the IMF, WTO and WHO, he underlined.

The prime minister said terrorism needed to be tackled in an organised manner. "We are happy that BRICS, under the chairmanship of Russia, has given final shape to its counter-terrorism strategy. India will take it forward in its chairmanship," Modi said. India will take the chairmanship of BRICS in 2021.

The prime minister said India and South Africa have proposed to give concessions from agreements related to intellectual property rights when it comes to Covid vaccine and cure. "We hope that other countries of BRICS would also support it," he said.

Under its chairmanship, India will strive to strengthen cooperation among BRICS nations on digital health and traditional medicines, Modi said.

He also proposed that 'Sherpas' should prepare a report on various decisions taken by BRICS nations when it completes 15 years in 2021.

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First Published: Tue, November 17 2020. 19:08 IST
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