Leverage numbers and strength, Modi tells BRICS nations

Prime minister meets chinese president for the fourth time in last one year

GN Bureau | July 9, 2015


#narendra modi   #brics   #xi   #russia   #india   #china  


Making a strong case for economic cooperation among the BRICS nations, Prime Minister Narendra Modi said today “we need to see our strengths and then cooperate on skill development”.

 “We must strengthen BRICS business council with the leading nations around the world,” Modi said at the BRICS business council meeting in the Russian city of Ufa where the leaders of Brazil, Russia, India, China and South Africa are holding a two-day summit.

The PM also highlighted the need of BRICS for the development of countries. He further said that BRICS Summit has had economic development as its vision. "Collectively, we have an 18 percent share in world trade," he added.

The theme of this summit is ' BRICS partnership: A powerful factor for Global Development', which covers both political and economic issues. However, the emphasis is on economic cooperation.

The Prime Minister will also be participating in the meeting of the Shanghai Cooperation Organisation (SCO). The SCO summit is likely to see India, which is currently an observer of the grouping, acquire full membership.

On the sidelines of the summit, Modi met Chinese president Xi Jinping, for the fourth time in the last one year. It is the fourth bilateral meeting between the two leaders since their first in Fortaleza, Brazil, last July. In September 2014 and May 2015, Xi and Modi visited each others country, respectively.

The Chinese president recalled his meeting with Modi in May in the Chinese city of Xi'an, where the two leaders reached important consensus on enriching the bilateral strategic partnership and forging a closer development partnership.

The agreements reached back then are now being translated into steady progress in bilateral cooperation in such areas as parliamentary exchange, railway, industrial parks and smart cities, Xi said.

The president called on the two countries to make concerted efforts to maintain the positive momentum in the development of bilateral ties and open new prospects for mutually beneficial cooperation.

India in ‘stable growth momentum’: OECD

India gets ‘stable growth momentum’ tag in economic activities by Paris-based think tank OECD, The stable tag is based on Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend. The Organisation for Economic Cooperation and Development (OECD) today said the indicators continue to point to firming growth in the euro area, including France and Italy, and to stable growth momentum in Germany, Japan and India.

India's CLI stood at 99.5 in May and the grouping's latest report is based on readings for that month. Last month, OECD - a grouping of 34 countries - had pegged India's growth to remain "strong and stable" at 7.3 per cent in 2015 on the back of revival in investments.

Comments

 

Other News

Enhanced MCA21 V3 Portal Paves the Way for Improved Corporate Governance

By Sudhir Chaturvedi, Executive Board Member & President- Markets, LTIMindtree Corporate governance has always been a critical issue for businesses in India. As part of its ongoing digitalization drive, the Ministry of Corporate Affairs (MCA) recently launched the latest

“I pray to God that such an incident never happens in future”

Life is slowly limping back to normalcy in Bahanaga, a block headquarters town in Odisha’s Balasore district that witnessed one of the deadliest rail disasters of the century. Train operations have resumed as the Central Bureau of Investigation (CBI) has begun the probe into the accident that claimed

Gandhi’s Triumph over the Fear of Death

The Essential U. R. Ananthamurthy Edited by N. Manu Chakravarthy and Chandan Gowda Aleph Books, Rs 899, 312 pages

Bird walks for youngsters to be held across India

Early Bird and the Rainmatter Foundation have announced five bird walks, led by naturalists, across India on June 10. The walks, to be held in Agartala, Dehradun, Mysore, Panjim, and Tirupati early in the morning, are part of the Rainmatter Foundation’s Walking Lightly campaign, being observed throug

India celebrates Environment Day with thrust on Mission LiFE

The Ministry of Environment, Forest and Climate Change, Government of India organized the World Environment Day on Monday with a thrust on Mission LiFE. The concept of LiFE, i.e., Lifestyle for Environment was introduced by prime minister Narendra Modi at the World Leaders` Summit in Glasgow at COP26, when

Green banking: an emerging way forward

Green Banking is an initiative taken by the banks to promote environment-friendly practices and reduce carbon footprint of their activities. Green financing (a part of ‘Green Banking’) is a broad term that can refer to a financial investment flowing into sustainable development projects and ini

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter