India's Prime Minister Narendra Modi has praised the reforms made in India in the past few years and hailed the 'ease of doing business' for investors in the world's fifth-largest economy.

"We have replaced red tape with red carpet for investors," said Modi, in a business forum meet of the BRICS meeting on Tuesday (Aug 22) that had the physical presence of the heads of nations of Brazil, India and South Africa while Russian President Vladimir Putin was present virtually.&nbsp;

Interestingly, Chinese leader Xi Jinping was not present in the forum for unspecified reasons.

Modi also pitched India's Unified Payment Interface (UPI) to the BRICS nations and hailed the way the instant digital payment service is available for use across India, "from street vendors to the shopping mall".&nbsp;

He said India has the highest number of digital transactions in the world, making the country attractive for countries like UAE, Singapore, and France to join this platform.

He said, "India has made a significant leap in financial inclusion with rural women benefitting the most." 
 
PM Modi said that India is playing a "transformative" role in boosting the global economy with a remarkable leap in the ease of doing business.

"India's success is accredited to the nation's ability to transform adversity into an economic reform opportunity, with an emphasis on reducing compliance burdens and facilitating the ease of doing business," he said.

Taking to X, formerly known as Twitter, PM Modi wrote, "Over the last few years we have made immense strides in IT, semiconductors and other such futuristic sectors. Our economic vision also places immense importance on the empowerment of women."

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India's Prime Minister Narendra Modi has praised the reforms made in India in the past few years and hailed the 'ease of doing business' for investors in the world's fifth-largest economy.

India's Prime Minister Narendra Modi has praised the reforms made in India in the past few years and hailed the 'ease of doing business' for investors in the world's fifth-largest economy. "We have replaced red tape with red carpet for investors," said Modi, in a business forum meet of the BRICS meeting on Tuesday (Aug 22) that had the physical presence of the heads of nations of Brazil, India and South Africa while Russian President Vladimir Putin was present virtually. Interestingly, Chinese leader Xi Jinping was not present in the forum for unspecified reasons. Modi also pitched India's Unified Payment Interface (UPI) to the BRICS nations and hailed the way the instant digital payment service is available for use across India, "from street vendors to the shopping mall". He said India has the highest number of digital transactions in the world, making the country attractive for countries like UAE, Singapore, and France to join this platform. He said, "India has made a significant leap in financial inclusion with rural women benefitting the most." PM Modi said that India is playing a "transformative" role in boosting the global economy with a remarkable leap in the ease of doing business. "India's success is accredited to the nation's ability to transform adversity into an economic reform opportunity, with an emphasis on reducing compliance burdens and facilitating the ease of doing business," he said. Taking to X, formerly known as Twitter, PM Modi wrote, "Over the last few years we have made immense strides in IT, semiconductors and other such futuristic sectors. Our economic vision also places immense importance on the empowerment of women." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Modi aims at expansion of India's UPI to BRICS nations at business forum meet

In the run-up to the 15th BRICS summit hosted by South Africa from August 22nd to 24th, Professor Anil Sooklal, the country's BRICS Sherpa, has highlighted India's "critical role".

Speaking to WION exclusively, he said, "India is a critical country in the success of the summit. And I think the fact that we have Prime Minister Modi coming to the summit signals, just how seriously India takes its membership of BRICS."

South Africa is the host of the year's summit which is the first in-person gathering of BRICS leaders since 2019, with the Sherpa describing the meeting as "historic". No in-person summits occurred between 2020 and 2022 due to the Covid pandemic.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/brics-expansion-bilateral-ties-at-forefront-of-pm-modi-raisis-talks-626888">BRICS expansion, bilateral ties at forefront of PM Modi’s talks with Iran President Raisi</a>

He explained that the "world has changed dramatically in these last few years", adding that "one of the significant geopolitical shifts is the rise of India as the 5th largest global economy. And I think that's significant, not just for India, I think it's significant for BRICS as well. "

Sooklal's insights extended to India's "pioneering role" within BRICS, particularly in deepening the use of national currencies.

He emphasised that India has been at the forefront of this initiative, enabling financial choices and greater independence for member nations.

Also read |&nbsp;<a href="https://www.wionews.com/world/brics-idea-of-common-currency-potential-expansion-creates-jitters-in-the-west-625861">BRICS' idea of 'common currency', potential expansion creates jitters in the West</a>

He said, "BRICS is focusing heavily on in terms of giving us financial choices and also greater financial independence, not only in terms of our trade interactions but also in terms of setting up our own payment settlement system, which we also want to be discussing and India again, has been one of the leaders in this in the Global South."

"More and more countries, especially BRICS countries like Russia, China and India have been focusing on using national currencies."

<h2>Focus on expansion of BRICS</h2>

Among the key issues to be addressed at the summit is an expansion of the grouping, a topic that has reverberated globally.

Sooklal underscored the significance, stating, "Having all the BRICS leaders including Prime Minister Modi, to deliberate on this and to see how we deal with the question of expansion, I think that's also really significant."

South Africa has received formal expressions of interest from over 20 countries seeking BRICS membership which are Algeria, Argentina, Bangladesh, Bahrain, Belarus, Bolivia, Cuba, Egypt, Ethiopia, Honduras, Indonesia, Iran, Kazakhstan, Kuwait, Nigeria, Palestine, Saudi Arabia, Senegal, Thailand, United Arab Emirates, Venezuela and Vietnam.

The evolving geopolitical landscape has renewed interest in BRICS as nations in the Global South explore alternatives in a multipolar world.

<h2>BRICS 2023 summit: Why PM&nbsp;Modi's in-person presence holds significance?</h2>

Prime Minister Narendra&nbsp;Modi's presence in South Africa at this juncture holds dual significance. Not only does it align with the 30th anniversary of formal diplomatic ties between the two nations, but it also commemorates Mahatma Gandhi's return to India from South Africa.

Sooklal noted the importance, stating, "On a number of fronts, it's an important occasion for India. Not just within BRICS, but also the bilateral relationship between our two countries"

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In the run-up to the 15th BRICS summit hosted by South Africa from August 22nd to 24th, Professor Anil Sooklal, the country's BRICS Sherpa, has highlighted India's "critical role".

In the run-up to the 15th BRICS summit hosted by South Africa from August 22nd to 24th, Professor Anil Sooklal, the country's BRICS Sherpa, has highlighted India's "critical role". Speaking to WION exclusively, he said, "India is a critical country in the success of the summit. And I think the fact that we have Prime Minister Modi coming to the summit signals, just how seriously India takes its membership of BRICS." South Africa is the host of the year's summit which is the first in-person gathering of BRICS leaders since 2019, with the Sherpa describing the meeting as "historic". No in-person summits occurred between 2020 and 2022 due to the Covid pandemic. Also read | BRICS expansion, bilateral ties at forefront of PM Modi’s talks with Iran President Raisi He explained that the "world has changed dramatically in these last few years", adding that "one of the significant geopolitical shifts is the rise of India as the 5th largest global economy. And I think that's significant, not just for India, I think it's significant for BRICS as well. " Sooklal's insights extended to India's "pioneering role" within BRICS, particularly in deepening the use of national currencies. He emphasised that India has been at the forefront of this initiative, enabling financial choices and greater independence for member nations. Also read | BRICS' idea of 'common currency', potential expansion creates jitters in the West He said, "BRICS is focusing heavily on in terms of giving us financial choices and also greater financial independence, not only in terms of our trade interactions but also in terms of setting up our own payment settlement system, which we also want to be discussing and India again, has been one of the leaders in this in the Global South." "More and more countries, especially BRICS countries like Russia, China and India have been focusing on using national currencies." Focus on expansion of BRICS Among the key issues to be addressed at the summit is an expansion of the grouping, a topic that has reverberated globally. Sooklal underscored the significance, stating, "Having all the BRICS leaders including Prime Minister Modi, to deliberate on this and to see how we deal with the question of expansion, I think that's also really significant." South Africa has received formal expressions of interest from over 20 countries seeking BRICS membership which are Algeria, Argentina, Bangladesh, Bahrain, Belarus, Bolivia, Cuba, Egypt, Ethiopia, Honduras, Indonesia, Iran, Kazakhstan, Kuwait, Nigeria, Palestine, Saudi Arabia, Senegal, Thailand, United Arab Emirates, Venezuela and Vietnam. The evolving geopolitical landscape has renewed interest in BRICS as nations in the Global South explore alternatives in a multipolar world. BRICS 2023 summit: Why PM Modi's in-person presence holds significance? Prime Minister Narendra Modi's presence in South Africa at this juncture holds dual significance. Not only does it align with the 30th anniversary of formal diplomatic ties between the two nations, but it also commemorates Mahatma Gandhi's return to India from South Africa. Sooklal noted the importance, stating, "On a number of fronts, it's an important occasion for India. Not just within BRICS, but also the bilateral relationship between our two countries" WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India's 'critical role' stressed by South Africa's BRICS Sherpa Anil Sooklal ahead of the summit

After PM <a href="https://www.wionews.com/india-news/must-ensure-countries-supporting-terrorists-are-held-accountable-pm-modi-at-brics-343715">Modi </a>addressed the 12th&nbsp;BRICS conference through video conferencing, Chinese President Xi <a href="https://www.wionews.com/videos/prime-minister-narendra-modi-and-chinese-president-xi-jinping-to-attend-virtual-summit-of-brics-343637">Jinping</a> speaking at the summit said that "BRICS countries must stand up for equity and justice in the world."

Watch:

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"The world is caught between a pandemic of the century and momentous changes never seen in the last one hundred years. The international landscape keeps evolving in profound ways. &nbsp;Human society is going through the most serious pandemic in the past century," the Chinese president said, adding,"The world economy is witnessing the worst recession since the Great Depression in the 1930s."&nbsp;

<a href="https://www.wionews.com/world/india-and-china-may-start-producing-sputnik-v-vaccine-russian-president-putin-343716">Also Read |&nbsp;India and China may start producing Sputnik V vaccine: Russian President Putin</a>

The Chinese president said that his country is&nbsp;prepared to cooperate with India over the coronavirus vaccine.

"Prepare to have cooperation with India on the vaccine," Xi Jinping&nbsp;said.

"We remain convinced that the theme of our times, peace and development has not changed and that the trend toward multipolarity and economic globalization cannot be turned around. We must keep people's welfare close to heart and pursue the vision of a community with a shared future for mankind," the Chinese president asserted.

"Through concrete actions, we will contribute our share to making the world a better place. Facing the choice between multilateralism and unilateralism, and between justice and hegemony, BRICS countries must stand up for equity and justice in the world," Xi Jinping&nbsp;said.

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"We must hold high the banner of multilateralism and defend the purposes and principles of the Charter of the UN. We must endeavour to safeguard the UN-centered international system and the international order underpinned by international law. It is important that countries rise above ideology and respect each other's choices of social system, economic model and development path consistent with their national conditions," the Chinese president said.

After PM Modi addressed the 12th BRICS conference through video conferencing, Chinese President Xi Jinping speaking at the summit said that "BRICS countries must stand up for equity and justice in the world.

After PM Modi addressed the 12th BRICS conference through video conferencing, Chinese President Xi Jinping speaking at the summit said that "BRICS countries must stand up for equity and justice in the world." Watch: "The world is caught between a pandemic of the century and momentous changes never seen in the last one hundred years. The international landscape keeps evolving in profound ways. Human society is going through the most serious pandemic in the past century," the Chinese president said, adding,"The world economy is witnessing the worst recession since the Great Depression in the 1930s." Also Read | India and China may start producing Sputnik V vaccine: Russian President Putin The Chinese president said that his country is prepared to cooperate with India over the coronavirus vaccine. "Prepare to have cooperation with India on the vaccine," Xi Jinping said. "We remain convinced that the theme of our times, peace and development has not changed and that the trend toward multipolarity and economic globalization cannot be turned around. We must keep people's welfare close to heart and pursue the vision of a community with a shared future for mankind," the Chinese president asserted. "Through concrete actions, we will contribute our share to making the world a better place. Facing the choice between multilateralism and unilateralism, and between justice and hegemony, BRICS countries must stand up for equity and justice in the world," Xi Jinping said. × "We must hold high the banner of multilateralism and defend the purposes and principles of the Charter of the UN. We must endeavour to safeguard the UN-centered international system and the international order underpinned by international law. It is important that countries rise above ideology and respect each other's choices of social system, economic model and development path consistent with their national conditions," the Chinese president said.

Prepared to cooperate with India on vaccine, says Chinese President Xi Jinping at BRICS

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Modi aims at expansion of India's UPI to BRICS nations at business forum meet

India's 'critical role' stressed by South Africa's BRICS Sherpa Anil Sooklal ahead of the summit

Prepared to cooperate with India on vaccine, says Chinese President Xi Jinping at BRICS