"Business leaders promote trade, investment, manufacturing ties among BRICS nations"

"It is important, that our business leaders lead the effort in promoting trade, investment and manufacturing ties, among our countries," Modi said in his statement on the BRICS Business Council.

"Domains like Trade, Technology, Tourism, Talent and Tradition have the power to redefine existing paradigms," he said.

He said: " Various enabling agreements, and MoUs; have already been signed between BRICS Development Banks, to promote intra-BRICS trade and investment. I would suggest the Business Council work in close coordination with the development Banks, and, the Contact Group on Trade and Investment Issues."

He said India remains committed to partnering with African countries in their developmental initiatives.

Here is the full text of  Prime Minister Nareendra Modi's statement on the BRICS Business Council:

"Excellencies,

Distinguished members of the Business Council

Ladies and Gentlemen,

I believe, economic forces are becoming increasingly important in global relationships.

Domains like Trade, Technology, Tourism, Talent and Tradition have the power to redefine existing paradigms.

I am thus pleased, that we established, the BRICS Business Council, in Durban, last year.

It is important, that our business leaders lead the effort in promoting trade, investment and manufacturing ties, among our countries.

I appreciate the work done by the Council.

Various enabling agreements, and MoUs; have already been signed between BRICS Development Banks, to promote intra-BRICS trade and investment.

I would suggest the Business Council work in close coordination with the Development Banks, and, the Contact Group on Trade and Investment Issues.

The suggestions presented in the Annual Report are important. The Council should work closely with BRICS Sherpas to see how these suggestions can be taken forward.

I am also happy to note that the Council has gone beyond BRICS to make concrete proposals for contributing to the growth, and development of the larger African region.

India remains committed to partnering with African countries in their developmental initiatives.

I once again, express my appreciation for the good work that has been done."