India took the lead in forging consensus on membership criteria and in the selection of new members for the BRICS grouping during the Leaders’ Retreat, sources said.
A significant development took place in BRICS expansion during the Leaders’ Retreat on Tuesday.
Prime Minister Narendra Modi on Tuesday attended the BRICS Leaders’ Retreat, where the leaders of the grouping deliberated on global developments and explored how to utilize the BRICS platform effectively to address and resolve global challenges.
PM Modi arrived in South Africa on Tuesday. Upon his arrival, PM Modi received a rousing welcome from the Indian diaspora who chanted ‘Vande Mataram’ slogans. The members of the Indian community welcomed him with ‘dhols’ outside the Sandton Sun Hotel in Johannesburg.
This is PM Modi’s third visit to South Africa and the trip marks the 30th anniversary of the diplomatic relationship between India and South Africa.
The opening day of the 15th BRICS Summit in Johannesburg was witness to the BRICS Business Forum Leaders’ Dialogue.
In his address at the BRICS Business Forum Leaders’ Dialogue, PM Modi said India will soon be a 5 trillion dollar economy and in the coming years will be the growth engine of the world.
PM Modi’s special message to the dialogue was that mutual trust and transparency can help create a big impact, especially in the Global South.
Meanwhile, South African President Cyril Ramaphosa said as Africa has an urbanised population, it can provide a stable workforce in future, and BRICS countries have an opportunity to contribute to and participate in Africa’s growth story.
“Africa has a young digitally connecting and urbanizing population. A population that provides a stable workforce for companies in future. The investment in skills continues to grow,” President Ramaphosa said.
Brazil’s President Luiz Inacio Lula da Silva, Chinese President Xi Jinping and Russia’s Foreign Minister Sergei Lavrov attended the event.
Initially formed as BRIC, a visionary concept coined by Goldman Sachs economist Jim O’Neil in 2001, BRICS comprises Brazil, Russia, India, and China – a collective representation of burgeoning emerging markets brimming with current and future economic prowess. In a momentous development in 2010, South Africa joined the bloc, prompting a change in the acronym BRICS.
BRICS Leaders’ Retreat: India takes lead in selection, consensus on new members
Johannesburg, Aug 22 (ANI): Prime Minister Narendra Modi along with BRICS leaders participate in the BRICS Leaders Retreat, at the Summer Place in Johannesburg on Tuesday. (ANI Photo)