PM Modi’s speech at Brics Summit 2017: Key highlights

Prime Minister Narendra Modi on Monday called for a strong partnership among Brics nations to spur economic growth, saying that the bloc of emerging countries has contributed to the stability in a world “drifting towards uncertainty”.

Addressing the plenary session of the Brics Summit in China’s Xiamen city, Modi said trade and economy were the foundations of the cooperation among Brics -Brazil-Russia- India-China-South Africa. He suggested some steps that can be taken to upgrade mutual cooperation. PM Modi also thanked President Xi again for his warm reception and the excellent organisation of this Summit.

Here are key highlights from his address to the plenary session of the Brics Summit in Xiamen city.

■ After more than a decade of existence, BRICS has developed a robust framework for cooperation. We contribute stability and growth in a world drifting towards uncertainty. While trade and economy have been the foundation of our cooperation, our endeavours today touch diverse areas of technology, tradition, culture, agriculture, environment, energy, sports, and ICT.

■ The New Development Bank has started disbursing loans in pursuit of its mandate to mobilize resources for infrastructure and sustainable development in BRICS countries. At the same time, our Central Banks have taken steps to make the Contingent Reserve Arrangement fully operational. These are milestones of progress we can build upon.

■ Looking ahead, it is important that our people remain at the centre of our journey. I am happy to note that China has taken forward the people-to-people thrust of our exchanges from last year. Such inter-mingling will consolidate our links and deepen our understanding.

■ India’s own far-reaching journey of transformation gives pride of place to our people. We are in mission-mode to eradicate poverty; to ensure health, sanitation, skills, food security, gender equality, energy, education and innovation. National programmes of Clean Ganga, Renewable Energy, Digital India, Smart Cities, Housing for All and Skill India are laying the basis for clean, green and inclusive development. They are also tapping the creative energy of our 800 million youth.

■ Our women’s empowerment programmes are productivity multipliers that mainstream women in nation building.

■ We have also stepped up the fight against black money and corruption. Moving forward, using the springboard of our national experiences, BRICS countries can deepen partnership for win-win results.

■ Some thoughts come to mind for upgrading mutual cooperation. First, last year we discussed pooling our efforts to create a BRICS rating agency. An Expert Group has since been studying the viability of such an agency. I would urge that the roadmap for its creation should be finalized at the earliest.

■ Second, our Central Banks must further strengthen their capabilities and promote co-operation between the Contingent Reserve Arrangement and the IMF.

■ Third, affordable, reliable, and sustainable access to energy is crucial for the development of our nations. Climate resilient development calls upon us to utilise all available resource streams. Renewable energy is particularly important on multiple counts. Recognizing this, India, together with France, launched a major international initiative - the International Solar Alliance (ISA) - in November 2015. It will bring together a coalition of 121 countries for mutual gains through enhanced solar energy utilisation. BRICS countries can work closely with ISA to strengthen the solar energy agenda.