Prime Minister Narendra Modi has called for an early opening of New Development Bank's regional office in India. Addressing the Dialogue with BRICS Business Council and New Development Bank (NDB) in Brasilia, Mr Modi, this will give a boost to projects in our priority areas. The Prime Minister offered full backing to the multilateral finance institution in promoting global growth.&nbsp;<br />''<br />''Mr Modi urged the BRICS Business Council to create a roadmap to achieve the 500 billion dollar intra-BRICS trade target by the next summit. Prime Minister said the identification of economic complementarities among member countries will be important in this effort. Mr Modi said that BRICS countries are a ray of hope for the world's economic growth.<br />''<br />''According to the BRICS joint statement, the five countries look forward to the opening of the two remaining NDB Regional Offices in Russia and India in 2020. It said, building upon the core functions of the bank's headquarters, its Regional Offices shall contribute to expanding its operations and striving for a more robust project portfolio for all member countries.&nbsp;<br />''<br />''Prime Minister Modi, while addressing the dialogue, also requested BRICS countries and the NDB to join the global Coalition for Disaster-Resilient Infrastructure. He said the partnership agreement between the New Development Bank and BRICS Business Council will be useful for both the institutions.<br />''<br />''The Prime Minister said that to address the challenges facing the universal health coverage, the BRICS Business Council may consider organising a hackathon in India on the use of digital health applications. Referring to several agrotech start-ups that have emerged in the five countries, Mr Modi said that their network will be useful for sharing experiences and taking advantage of BRICS' large markets.<br />''<br />''Prime Minister has since left for New Delhi after attending the BRICS summit in Brazil. In a tweet, Mr Modi described the BRICS Summit a very productive one. Prime Minister said BRICS leaders had fruitful dialogues on cementing ties in trade, innovation, technology and culture. He said the focus on futuristic subjects will surely lead to deeper cooperation that will benefit the people of our respective nations.&nbsp;<br />
News On AIR | November 15, 2019 12:49 PM
PM Modi calls for early opening of NDB's regional office in India