PM Modi addresses BRICS Business Forum Leaders' Dialogue in Johannesburg

PM Modi on Tuesday addressed the BRICS Business Forum Leaders' Dialogue in South Africa’s Johannesburg. In his address, PM said India is the fastest-growing major economy in the world. "Soon, India will be a 5 trillion dollar economy," he said.

“India will become the growth engine for the world in coming years,” the PM said.

Prime Minister Narendra Modi shared that India boasts the world's third-largest startup ecosystem, boasting over 100 unicorns. He highlighted the nation's commitment to mission-driven reforms, which have notably enhanced the ease of doing business in India.


“India has the world's 3rd largest startup ecosystem; there are over 100 unicorns,” he said.

Reflecting on the inaugural BRICS summit in 2009, Prime Minister Narendra Modi observed that the world was recovering from a significant economic crisis at the time. He emphasised that during this crucial period, BRICS emerged as a beacon of hope for the global economy.

“In 2009, when the first BRICS summit was held, the world was coming out of a big economic crisis. At that time, BRICS had emerged as a ray of hope for the world economy," said the PM.

This will be PM Modi's third visit to South Africa and the trip marks the 30th anniversary of the diplomatic relationship between India and South Africa.

This year's BRICS is under the presidency of South Africa. The theme of this year's summit is: "BRICS and Africa: Partnership for mutually accelerated growth, sustainable development and inclusive multilateralism"

This will be the first in-person BRICS Summit after three consecutive years of virtual meetings owing to the Covid-19 pandemic.