Indian Prime Minister Narendra Modi on Sunday appealed to business leaders to work with BRICS governments to boost trade and promote innovation.
Addressing a meeting of the BRICS Business Council at the eighth BRICS Summit held on Oct. 15-16 in Goa, Modi also called on the BRICS Business Council to contribute to enhancing business opportunities, building investment linkages and removing bottlenecks to intra-BRICS commerce.
The promotion of economic and commercial engagement has been a foundational impulse in the creation of BRICS, said the Indian prime minister, adding that the business community are the strongest proponents for closer and faster commercial cooperation that could help create wealth.
"The council's work holds much promise for expansion of trade and business among BRICS countries," he said.
He also encouraged the council to work closely with the New Development Bank, a multilateral development bank founded by the BRICS countries, on identifying and implementing prospective economic projects.
Speaking at the same occasion, South African President Jacob Zuma also commended the work of the council.
"The BRICS Business Council activities since undertaken through Durban Summit and the corresponding initiatives by the BRICS governments have brought us to a point where the council can be a true catalyst for economic growth," he said.
Various BRICS undertaking need to culminate in growing investments, and expanding value-added trade between BRICS which should also support integration into global value chains, Zuma said, while urging the business leaders to continue advancing the economic agenda of the BRICS.
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