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Despite the global recession, BRICS nations have accelerated economic development

-Prime Minister Narendra Modi's rendition of 'BRICS' before the forum; India is the most open in the world
And investment friendly economy

Brasilia (Brazil): BRICS nations contribute 50 percent to global economic development. Prime Minister Narendra Modi said that despite the global recession, BRICS nations have driven economic development, driven millions out of poverty and succeeded in technology and innovation. Modi addressed the BRICS Trade Forum in Brazil today in the wake of the BRICS Summit. Other chiefs also made this statement in a speech before the trade forum.
Stating that interbricks trade and investment goals should be more ambitious, he sought suggestions for reducing trade costs in the country. The Prime Minister also suggested that a joint project by BRICS nations could be established in this area by ensuring at least five areas till the next BRICS Summit.

At tomorrow's summit, important initiatives like the latest BRICS network, BRICS organization for future networks will be discussed. He urged the private sector to participate in this effort which focuses on manpower. The Prime Minister said the five countries should also consider mutual social security agreements.
The Prime Minister said that India is the most open and investment friendly economy in the world due to political stability, pre-conceivable policies and trade friendly reforms.

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