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PM leaves for Brazil to attend BRICS Summit

PM Lok Sabha

Projecting a nuanced foreignpolicy approach of the new government, Prime Minister NarendraModi today said India will discuss at the BRICS Summit thisweek efforts to address regional crisis and security threatsto restore a climate of peace while advancing global economic stability.
    

PM Lok SabhaNew Delhi : Projecting a nuanced foreignpolicy approach of the new government, Prime Minister NarendraModi today said India will discuss at the BRICS Summit thisweek efforts to address regional crisis and security threatsto restore a climate of peace while advancing global economic stability.

In a departure statement before leaving for Berlin enroute Fortaleza in Brazil for his first multi-lateralengagement with global leaders, he also said that India looksforward to the BRICS initiative for setting up the NewDevelopment Bank and Contingent Reserve Arrangement.

The BRICS Development Bank with a corpus of USD 100million will fund projects in a number of countries and otherdeveloping countries. India along with China are in contentionfor establishing its headquarters either in New Delhi or inShanghai.

Modi is visiting Brazil at the invitation of BrazilianPresident Dilma Rousseff to attend the Sixth BRICS Summitbeing held in Fortaleza and Brasilia on 15-16 July.

The Prime Minister noted that the meeting is taking placeat a time of political turmoil, conflict and human crisis in
several parts of the world.

There is also persisting weaknesses and unrest in theglobal economy. Many emerging economies have experienced aslowdown which has increased the challenge of pursuinginclusive and economic development, he said.

“I look at the BRICS Summit as an opportunity to discusswith my BRICS partners how we can contribute to international efforts to address regional crises, address security threats and restore a climate of peace and stability in the world,” he said.

“I also look forward to our discussions to furtheradvance intra-BRICS economic cooperation and our collectiveefforts to advance global economic stability and prosperity.

In particular, I look forward to the successful conclusion ofmajor BRICS initiatives, like the New Development Bank and the Contingent Reserve Arrangement, which have seen significant progress since their launch in New Delhi in 2012,” he said.

PTI

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