1 hr ago

Modi Says BRICS Economy Is Growing Nearly Twice As Fast

Prime Minister Modi spoke about the growing economic strength of BRICS.

He said the group now includes 21 countries.

These countries represent nearly half of the world’s population.

They also produce around 40 per cent of the world’s economy.

Modi said BRICS economies grew much faster than the global economy over the same period.

He asked members to work more closely on trade, investment, technology and innovation.

India has created cooperation networks in areas such as agriculture, healthcare, skills and smart grids.

He also said India’s UPI system has helped expand digital payments and financial inclusion.

Key facts

BRICS membership: The grouping has grown from four countries to 21 countries.
Population share: BRICS countries represent nearly half of the world’s population.
Global GDP share: BRICS countries account for around 40 per cent of global GDP.
GDP growth comparison: Global GDP increased about 2.5 times, while combined BRICS GDP expanded nearly 4.5 times over the same broad period.
Free trade agreements: India has entered into free trade agreements with nearly 40 countries since 2014.
Cooperation areas: BRICS networks have been created in agriculture, healthcare, skills and smart grids.
Digital payments: Modi said India accounts for around half of the world’s real-time digital transactions through UPI.

thehansindia.com · 2 hrs ago