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BRICS members have similar approach to governance of global economy: PM

It is matter of happiness that membership of BRICS' New Development Bank has increased, says PM Modi

BRICS | Narendra Modi

Press Trust of India  |  New Delhi 

PM Modi
(Photo: ANI)

The member nations have a similar approach to the governance of the global economy and mutual cooperation can make a useful contribution to the post-Covid economic recovery, Prime Minister said on Thursday.

The Prime Minister said this in his opening remarks at the virtual annual summit in presence of Chinese President Xi Jinping, Russian President Vladimir Putin and top leaders of Brazil and South Africa. The summit is being hosted by China as the Chair for this year.

The (Brazil-Russia-India-China-South Africa) brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade.

"Our mutual cooperation can make a useful contribution to the global post-Covid recovery," Modi said.

He said the structural changes undertaken in the BRICS in the last few years increased the influence of the grouping.

It is a matter of happiness that membership of the New Development Bank (NDB) has increased, Modi said adding cooperation among the member countries has benefitted their citizens.

"I am confident that our deliberations today will produce suggestions to further strengthen our ties," he said.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, June 23 2022. 18:30 IST