Narendra Modi Leaves for BRICS Summit in Brazil

Accepting the invitation of Brazilian President Dilma Rousseff, Prime Minister of India Shri Narendra Modi has taken off for Sixth BRICS Summit in Brazil, will be projecting new Indian government policies and approaches towards BRICS nations as well as other countries. Today, Modi has flown for Berlin, Russia. With a view to advancing global economic stability, Narendra Modi will address BRICS Summit to be held in Fortaleza and Brasilia on 15th and 16th July, 2014.

Narendra Modi in a departure statement mentioned the below mentioned issues:

·         

      Foreign Policy Approach

Shri Modi has mentioned it a great opportunity to meet global leaders (of China, Brazil, Russia, South Africa) at the same platform. Accepting the official invitation of Brazilian President, India will project various foreign policies for potential contributions for global development with BRICS countries.

·         Regional Crisis & Security Threats

The Prime Minister noticed the time as a time of political turmoil, conflict and human crisis in several parts of the world and wished that BRICS could make a positive contribution in the direction especially in terms of regional crisis and security.

·         Restoration of a climate of Peace

Modi looks forward for restoration of peace, considering the summit as an international platform for stability in the world with making global efforts.

·         Advancement of Global Economic Stability

In his speech, Modi also mentioned persisting weaknesses and unrest in the global economy. He added that many emerging economies have experienced a slowdown which has increased the challenge of pursuing inclusive and economic development.

·         Initiative for setting up New Development Bank

One of the major focuses of Indian PM would be to discuss intra-BRICS economic cooperation with collective efforts to advance global economic stability and prosperity. The BRICS Development Bank with a corpus of USD 100 million will fund projects in a number of countries and other developing countries. India is in contention for establishing its headquarters in New Delhi.

·         Contingent Reserve Arrangement for BRICS

Further, he looks forward to the successful establishment of Contingent Reserve Arrangement, one of the initiatives which have seen significant progress since its launch in New Delhi in 2012.

Courtesy: 

http://www.ndtv.com/article/india/pm-narendra-modi-leaves-for-two-day-brics-summit-in-brazil-557642?curl=1405245828