PM Modi calls upon business leaders from BRICS nations to invest in India

Prime Minister Narendra Modi has called upon business leaders from the BRICS nations to invest in India, particularly in infrastructure development.

Mr Modi said, India is the world's most open and investment-friendly economy due to political stability, predictable policy and business-friendly reforms.

Mr Modi was addressing the closing ceremony of the BRICS Business Forum in Brasilia, the capital of Brazil, last night. Mr Modi said, the BRICS has led to economic development despite the global economic slowdown.

 

Prime Minister said, BRICS accounts for 50 per cent of the world's economic growth. Mr Modi called upon BRICS business leaders to exploit the opportunities among member countries.

The meeting of working groups of BRICS Business Council concluded on the



first day of BRICS 2019. In this meeting, leaders of working groups have agreed on 30 important proposals related to different areas.

Out of which, 10 proposals have been placed on priority and all these proposals will be submitted to BRICS leaders tomorrow. Secretary-General of FICCI Dilip Chinoy told that working groups have come up with the proposals to remove regulatory difficulties in bilateral trade, normalise phytosanitary measures for agriculture exports and to increase mutual cooperation in digital literacy.

President of New Development Bank, K V Kamath told that the bank has decided to open a new regional branch in India which will facilitate Indian businesses. He also said that the bank has opened the funding for non-government project also.