Terming terrorism, the reason for decreasing economic growth, PM Modi calls to fortify counter-terrorism

New Delhi, November 14: Calling for closer cooperation in areas such as counter-terrorism, trade and culture to bolster ties and formulate a common response to global issues, Prime Minister Narendra Modi attended the plenary session at BRICS on Thursday. Dragging attention to the global menace of terrorism, PM Modi asserted that the economic growth of developing nations has decreased by 1.5 per cent due to terrorism.

 

Addressing at the plenary session at BRICS summit, PM Modi said the menace of terrorism has resulted in the loss of USD 1 trillion to the world economy. Adding further, he said, “We need to focus on trade and investment between BRICS nations, Intra-BRICS trade is only 15% of the world trade.” He said, theme of this summit “Economic growth for an innovative future”, is very accurate. Innovation has become the basis of our development. Therefore, it is necessary that we strengthen cooperation under BRICS for innovation.

Moving ahead, PM Modi continued saying despite success in many areas, there is considerable scope to increase efforts in some areas. He elaborated saying that India recently launched 'Fit India Movement’ and therefore there is a need for communication and exchange between BRICS nations to increase in areas of fitness and health. PM Modi also stated that sustainable water management and sanitation are important challenges in urban areas. In this regard, PM Modi proposed to hold the first meeting of BRICS water ministers in India.

 

Speaking about the developments, PM Modi expressed his gratitude saying, “I am happy that the first Seminar on BRICS Strategies for Countering Terrorism was organized. We hope that such efforts and activities of five working groups will increase strong BRICS Security Cooperation against terrorism and other organized crimes.”

On trade and tourism, PM Modi stated that with mutual recognition of visas, social security agreement and qualifications, the countries will provide a more conducive environment for people of five countries to travel and work.