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Text of Prime Minister's statement on the BRICS Business Council

Published By : Admin | July 16, 2014 | 01:20 IST

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.

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India and the African Union are partners in progress: PM Modi during press meet with President of Angola
May 03, 2025

Your Excellency,
President Lourenço,
Delegates from both countries,
Friends from the media,

Namaskar!
Bem Vindo!

I warmly welcome President Lourenço and his delegation to India. This is a historic moment. After 38 years, the President of Angola is visiting India. His visit is not only giving a new direction and momentum to India-Angola ties, but also strengthening India-Africa partnership.

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Friends,

This year, India and Angola are celebrating the 40th anniversary of their diplomatic relations. But our ties are much older and deeper than that. When Angola was fighting for its freedom, India stood by it with unwavering faith and friendship.

Friends,

Today, we have close cooperation in various sectors. India is one of the largest buyers of Angola's oil and gas. We have decided to expand our energy partnership. I am pleased to announce the approval of a $200 million defense credit line for the modernization of Angola’s armed forces. We have also discussed the repair and overhaul of defense platforms and supplies. India would be glad to cooperate in the training of Angola’s armed forces.

Taking our development partnership forward, we will share our capabilities with Angola in Digital Public Infrastructure, Space Technology, and Capacity Building. Today we have also decided to further strengthen our relations in the sectors of Healthcare, Diamond processing, fertilizer and Critical minerals. The popularity of Yoga and Bollywood in Angola reflects the deep cultural connection between our two countries. To strengthen our people-to-people relations, we have decided to start a Youth Exchange Programme among our youth.

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Friends,

We welcome Angola's decision to join the International Solar Alliance. We have also invited Angola to join India's initiatives Coalition for Disaster Resilient Infrastructure, Big Cat Alliance and Global Biofuels Alliance.

Friends,

We both agree that terrorism is the biggest threat to humanity. I thanked President Lourenço and the people of Angola for their condolences on the loss of lives in the terrorist attack in Pahalgam. We are committed to take firm and decisive action against the terrorists and those who support them. We thank Angola for their support in our fight against cross - border terrorism.

Friends,

On behalf of 1.4 billion Indians, I extend my best wishes to Angola for its chairmanship of the African Union. It is a matter of great pride for us that the African Union was granted permanent membership of the G20, during India’s G20 presidency. India and African countries raised their voices in unison against colonial rule, inspiring one another in the process. Today, we stand united in advocating for the interests, hopes, expectations, and aspirations of the Global South.

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Our cooperation with African countries has gained momentum in the last decade. Our mutual trade has reached nearly $100 billion. There has been progress on defence cooperation and maritime security.

Last month, the first naval maritime exercise between India and Africa, "AIKEYME” was conducted. Over the past decade, we have established 17 new embassies across Africa. Credit lines worth more than $12 billion have been allocated for Africa. Apart from this, grant assistance of $700 million has been given to African countries. Vocational training centres have been opened in 8 African countries. We are collaborating with five African countries in the development of Digital Public Infrastructure. In times of disaster, we have been privileged to serve as 'First Responders', standing shoulder to shoulder with the people of Africa.

India and the African Union are partners in progress. We are pillars of the Global South. I am confident that under Angola's leadership, the relationship between India and the African Union will reach new heights.

Excellency,

Once again, I extend a warm welcome to you and your delegation to India.

Thank you very much.

Obrigado.