PM Modi’s Statement on BRICS Expansion (24/08/2023)

advtanmoy 26/08/2023 1
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The expansion and modernization of BRICS sends a message that all global institutions should adapt to changing times.

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Prime Minister’s Statement on BRICS Expansion
Excellencies,

Media Colleagues,
Namaskar!

First and foremost, I extend my heartiest congratulations to my friend, President Ramaphosa, for the successful organization of this BRICS summit.

I am delighted that several positive outcomes have emerged from this three-day conference.

On the occasion of the 15th anniversary of BRICS, we have taken a crucial decision of its expansion.

As I mentioned yesterday, India has always fully supported the expansion of BRICS membership.

India’s has always believed that the inclusion of new members will strengthen BRICS as an organization and provide new impetus to our collective endeavors.

This step will further strengthen the faith of many countries of the world in the multipolar world order.

I am pleased that our teams have come to an agreement on the guiding principles, standards, criteria, and procedures for expansion.

And based on these, today we have agreed to welcome Argentina, Egypt, Iran, Saudi Arabia, Ethiopia, and UAE into BRICS.

Firstly, I extend my heartfelt congratulations to the leaders and people of these countries.

I am confident that together with these nations, we will infuse our cooperation with new momentum and energy.

India has deep and historic relationships with all these countries.

With the help of BRICS, we will also add new dimensions to our bilateral cooperation.

For those countries that have expressed a desire to join BRICS, India will contribute in forming a consensus to welcome them as partner countries.

Friends,

The expansion and modernization of BRICS sends a message that all global institutions should adapt to changing times.

This is an initiative that can set an example for the reform of other global institutions established in the twentieth century.

Friends,

Just now, my friend President Ramaphosa congratulated India on its Moon Mission, and I am experiencing this since yesterday; everyone is extending their best wishes.

And around the world, this achievement is being recognized not as the success of just one nation, but as a significant success for humankind.

This is a matter of immense pride for all of us, and it’s an occasion to congratulate India’s scientists on behalf of the entire world.

Friends,

Yesterday evening, India achieved a soft landing on the southern pole of the Moon with its Chandrayaan mission.

This achievement is a significant milestone, not only for India but also for the entire global scientific community.

In the area where India had set its target, no previous attempt had ever been made, and this endeavor has been successful. So, science has been able to take us to a very difficult terrain.

This, in itself, is a great accomplishment for science and for the scientists.

On this historic occasion, all the congratulatory messages for me, for India, for Indian scientists and for the global scientific community, that have been pouring in; I publicly thank all of you, on my behalf, on behalf of my countrymen, and on behalf of my scientists.

Thank You.

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    • 26/08/2023 at 00:09 #227603
      advtanmoy
      Keymaster

      The expansion and modernization of BRICS sends a message that all global institutions should adapt to changing times.

      [See the full post at: PM Modi’s Statement on BRICS Expansion (24/08/2023)]

    • 26/08/2023 at 00:14 #227606
      advtanmoy
      Keymaster

      PM Modi’s address during G20 Trade and Investment Ministers’ Meeting

      Excellencies, Ladies and Gentlemen, Namaskar!

      A very warm welcome to Jaipur – the Pink City! This region is known for its dynamic and enterprising people.

      Friends,

      Throughout history, trade has led to exchange of ideas, cultures, and technology. It has brought people closer. Trade and globalization have also lifted hundreds of millions out of extreme poverty.

      Excellencies,

      Today, we see global optimism and confidence in the Indian economy. India is seen as a combination of openness, opportunities and options. During the last nine years, India has become the fifth largest global economy. This is the result of our sustained efforts. We embarked on the journey of ‘Reform, Perform, and Transform’ in 2014. We have increased competitiveness, and enhanced transparency. We have expanded digitization, and promoted innovation. We have established dedicated freight corridors and built industrial zones. We have moved away from red tape to red carpet and liberalized FDI flows. Initiatives like Make in India and Aatma Nirbhar Bharat have given a boost to manufacturing. Above all, we have brought policy stability. We are committed to make India the third largest global economy in the next few years.

      Friends,

      Current global challenges, from the pandemic to geo-political tensions, have tested the world economy. As G20, it is our responsibility to rebuild confidence in international trade and investments. We must build resilient and inclusive global value chains that can withstand future shocks. In this context, India’s proposal to create a Generic Framework for Mapping Global Value Chains is important. This framework aims to assess vulnerabilities, minimize risks, and enhance resilience.

      Excellencies,

      Technology’s transformative power in trade is undeniable. India’s shift to an online single indirect tax – the GST – helped create a single internal market boosting inter-state trade. Our Unified Logistics Inter-face Platform makes trade logistics cheaper and more transparent. Another game changer is ‘Open Network for Digital Commerce’, which will democratize our digital marketplace eco-system. We have already done that with our Unified Payments Inter-face for payment systems. Digitizing processes and use of e-commerce have the potential to enhance market access. I am glad that your group is working on the ‘High Level Principles for the Digitalization of Trade Documents’. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens. As cross-border E-commerce continues to grow, there are challenges as well. We need to work collectively to ensure equitable competition between large and small sellers. We also need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms.

      Excellencies,

      India believes in a rules-based, open, inclusive, multilateral trading system, with the WTO at its core. India has advocated the concerns of the Global South at the 12th WTO Ministerial Conference. We were able to forge consensus on safeguarding the interests of millions of farmers and small businesses. We must pay more attention to MSMEs, given their key role in the global economy. MSMEs account for 60 to 70 percent of employment and contribute 50 percent to the global GDP. They need our continued support. Their empowerment translates to societal empowerment. For us, MSME means – Maximum Support to Micro, Small, and Medium Enterprises. India has integrated MSMEs into public procurement through our online platform -Government e-marketplace. We have been working with our MSME sector to adopt the ethos of ‘Zero Defect’ and ‘Zero Effect’ on the environment. Increasing their participation in global trade and Global Value Chains has been a priority of the Indian presidency. The proposed ‘Jaipur Initiative to foster seamless flow of information to MSMEs’ will address the challenge of inadequate access to market and business-related information faced by MSMEs. I am also confident that the upgrade of the Global Trade Help Desk will increase participation of MSMEs in global trade.

      Excellencies,

      It is our collective responsibility as One Family, to restore confidence in international trade and investment processes. I am confident that you will work collectively to ensure that the global trading system gradually transitions into a more representative and inclusive future. I wish you all success in your deliberations. Thank you very much!

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Technology's transformative power in trade is undeniable. India's shift to an online single indirect tax - the GST - helped create a single internal market boosting inter-state trade.

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