Prime Minister of India Narendra Modi speech at 8th BRICS Summit

Excellencies, Ladies and gentlemen, Friends from the Media,nnWe have just concluded the eighth (8th) BRICS Summit.nnIt has been an honour and privilege to welcome President Xi, President Zuma President Temer, and President Putin to the beautiful state of Goa.nnOur discussions, that spread over three sessions today, were detailed, substantive and productive.nnIn the morning, we exchanged views on important global issues, including terrorism, global economic scenario, and the need to reform the global governance architecture.nnWe also utilized the opportunity to review on-going BRICS cooperation.nnDuring the Plenary Session, we focused on ideas and possibilities for BRICS future expansion in years ahead.nnThe conversation was useful and forward looking. And, as we mark a decade of BRICS, it is particularly timely. We have just ended a session with the BRICS Business Council.nnWe also heard from the President of the New Development Bank on the meaningful work that NDB has undertaken in its first year.nnI am happy to share that we have adopted the Goa Declaration that lays down a comprehensive vision for our cooperation and coordination, within BRICS and on international issues.nnLadies and gentlemen,nnLet me now turn to the issues that received high attention from the BRICS Leaders during the Summit.nnWe were unanimous in recognizing the threat that terrorism, extremism and radicalization presents, not just to the regional and global peace, stability and economic prosperity.nnBut, also to our society, our way of life and humanity as a whole.nnWe were also one in agreeing that BRICS need to work together and act decisively to combat this threat.nnWe underscored the need for close coordination on tracking sources of terrorist financing; and targeting the hardware of terrorism, including weapons’ supplies, ammunition, equipment, and training.nnWe also agreed that those who nurture, shelter, support and sponsor such forces of violence and terror are as much a threat to us as the terrorists themselves.nnIndia is happy to note the unity of thought and purpose on this serious global challenge.nnPutting the global economy back on track was another focus point of our deliberations.nnWe recognized the positive contribution of BRICS countries’ to global economic growth after the 2008 financial crisis.nnWe feel that it is necessary for economies to make public investments in long term infrastructure projects, coordinate macro-economic policy, drive growth, and promote world trade and manufacturing with renewed vigour.nnWe emphasized the central role for the WTO as the cornerstone of the multilateral trade architecture.nnWe acknowledged the need to strike a balance between economic development and environmental protection.nnWe welcome the early entry into force of the Paris Climate Agreement.nnIndia was proud to ratify the Agreement on 2nd October this year, the birth anniversary of the foremost environmentalist in history, Mahatma Gandhi.nnAs BRICS Leaders, we agreed to focus on institution building within the BRICS as an effective way to pursue our development agenda.nnWe commended the New Development Bank on completion of its first year.nnWe agreed that the NDB should continue to focus on infrastructure, technology and renewable energy sectors.nnWe were united in our view to establish the BRICS Agriculture Research Platform, BRICS Railway Research Network, BRICS Sports Council, and various youth-centric fora.nnWe spoke in one voice of our resolve to promote the reform of the global financial and economic architecture, and expand the role of emerging and developing economies in the International Monetary Fund.nnIn order to further bridge the gap in the global financial architecture, we agreed to fast track the setting up of a BRICS Rating Agency.nnWe also agreed to enhance our coordination within the G20.nnThe vitality of people-to-people contacts amongst the BRICS countries has been a point of emphasis for us.nnTo this end, we are organizing over 100 activities throughout the year and taking BRICS to diverse geographies and demographies across our countries.nnWe have agreed to nurture people-to-people pillar of our cooperation as a continuing effort.nnThe BRICS is also committed to strengthen our consultations and cooperation on peace and security matters.nnLadies and Gentlemen,nnA highlight of the Goa Summit will be the outreach to the BIMSTEC countries.nnThe Heads of State, Heads of Government and Leaders from Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and Thailand, that together with India, collectively constitute the BIMSTEC, are in Goa as the special guests to 8th BRICS Summit.nnThe first BRICS-BIMSTEC Outreach Summit will be held later today.nnThis will be a unique opportunity for BRICS and BIMSTEC leaders to hold a conversation on prospects for closer partnership and coordination.nnAs home to nearly two third of humanity, BRICS and BIMSTEC together can potentially unlock immense synergies with huge benefits for all our people.nnIn conclusion, I would like to thank my fellow leaders from the BRICS countries for their unqualified support in ensuring a successful 8th BRICS Summit.nnThank You.nnThank you very much.