Modi: India will become the "world growth engine" in the coming years
On August 22nd local time, Indian Prime Minister Modi stated at the BRICS Business Forum that India will become the world's growth engine in the coming years.
According to the Anadolu News Agency of Türkiye, Modi said at the BRICS Business Forum held in Johannesburg, South Africa, that despite the overall turmoil of the global economy, "India is currently the fastest growing major economy in the world" and "soon, India will become a US $5 trillion economy".
Modi said that in the past few years, India has continuously improved its business environment, "turning adversity and challenges into opportunities for economic reform.". Modi also invited forum members to become part of India's development path. "By combining our strengths, we can make significant contributions to the progress of the entire world, especially the southern hemisphere," Modi said.
Modi said at the forum that the COVID-19 pandemic "taught us the importance of an elastic and inclusive supply chain". According to The Times of India, India, along with the United States, Australia, Japan, and other countries, is seeking to establish a "resilient supply chain".
In addition, Modi said that when the first BRICS leaders' meeting was held in 2009, the world was emerging from a major economic crisis. At that time, the BRICS countries were regarded as "the glimmer of hope for the global economy". "At present, in the midst of the COVID-19, tensions and conflicts, the world is coping with economic challenges... At this moment, the BRICS countries can play an important role again".
According to reports, Modi arrived in Johannesburg on August 22 to attend the 15th meeting of BRICS leaders. The Indian Ministry of Foreign Affairs has stated that Modi will travel from South Africa to Athens, Greece on August 25th.