Prime Minister Narendra Modi on Monday assured the BRICS Business Council that India will offer full support to common endeavors of the council.
Addressing the council meeting at Xiamen he said, India wants BRICS Business Council to help achieve the common objective of improving business and investment cooperation among BRICS countries.
Appreciating the vital roll of the council he highlighted its pivotal role in shaping the vision of BRICS partnership. He said that partnership and the networks created by the council are energizing the economic growth stories in each BRICS country.
Mr Modi also recalled the previous BRICS meeting in Goa where there was a suggestion on closer cooperation between the New Development Bank and BRICS Business Council.
Prime Minister said that India is changing fast into one of the most open economies in the world today. He said, Foreign Direct Investment inflows are at an all-time high, rising by 40 per cent and India has moved up in the World Bank Index of Ease of Doing Business.
Similarly, it has moved up 32 spots in last two years in the Global Competitiveness Index. The Goods and Services Tax introduced in July this year is India’s biggest economic reform measure taken ever which has unified a market of 1.3 billion people with a single stroke.