India Economy to Surpass $5 Trillion, says PM Narendra Modi at BRICS Summit
Prime Minister Narendra Modi said on Aug 22 that India will become the world's growth engine in the coming years and that it will soon surpass the $5 trillion mark. At the BRICS Business Forum Leaders' Dialogue in Johannesburg, he said his government's "mission-mode" reforms have improved the ease of doing business, while calling for mutual trust and transparency in global supply chains.
The Summit's main takeaway could be a meeting between Modi and Chinese President Xi Jinping ahead of the G20 Summit in New Delhi.
The PM landed in Johannesburg earlier in the day while Xi reached a day before Modi. The meeting buzz comes against the backdrop of intense talks since last week to address differences along the Line of Actual Control and dialogue between the NSA Ajit K Doval and Chinese Foreign Minister Wang Yi.
A meeting between Modi and Xi could set the tone for the Chinese President's visit to the United States for the G20 summit on September 9-10. Modi has stated that he will meet with some leaders and BRICS invitees on the sidelines of the Summit, including Iran's leader.
Modi stated on Day 1 of the Summit in Johannesburg, "Today, India is the world's fastest-growing major economy." India will soon have a five-trillion-dollar economy." He spoke after the Presidents of Brazil and Russia in alphabetical order. "India will become the growth engine for the world in the coming years", the prime minister said, while recalling reforms undertaken by his government in the past nine years.