BRICS: Modi meets Abu Dhabi Crown Prince; Defence, space, nuclear energy and $11.5 billion Odisha investment discussed
Prime Minister Narendra Modi held a bilateral meeting with Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan at Hyderabad House in New Delhi on Saturday, on the sidelines of the 18th BRICS Summit.
At the recent Brics Business Forum, India's external affairs minister S Jaishankar urged fellow BRICS nations to create a stable trading environment, bolster supply chains, and enable trade in local currencies. Jaishankar emphasized the importance of building resilience, innovation, cooperation, and sustainability during a time of global political and economic upheaval caused by conflicts, pandemics, and climate disruptions.
He called for "greater self-reliance" within BRICS to enhance economic security and highlighted the need for genuine market practices, dependable logistics, a predictable business environment, diverse commercial relationships, and transparent trade and investment. Commerce and industry minister Piyush Goyal reiterated that BRICS accounts for nearly a quarter of global trade and stressed the importance of deep, resilient trade with diversified supply chains to prevent trade from hindering growth and well-being.
Goyal also pushed for BRICS members to open their markets, simplify regulations, speed up clearances, and link payment systems to trade in each other's local currencies.
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