Modi, who met Putin on the sidelines of the BRICS Summit at Fortaleza on Tuesday, expressed appreciation for Russia's friendship and unstinting bilateral and international support for India's economic development and security since the early days of India's Independence, said a statement from the Prime Minister's Office.
Here is the Full Text of what PM Narendra Modi said at his maiden presence at the BRICS Summit 2014:
Distinguished delegates, ladies, and gentlemen,
I am delighted to be in Brazil. I thank President Rousseff, the Government, and the wonderful people of Brazil for their hospitality.
This is my first BRICS summit and it has been a truly enriching experience. I have gained a lot from the insight and vision of the World Leaders gathered here.
I have also had the privilege of sowing the seeds of personal relationships with each of the leaders. I look forward to seeing them blossom into deep and strong personal bonds in the days to come.
Excellencies, BRICS enters the second cycle of its summits
This Summit takes place at a crucial juncture. The World is facing a high level of economic and political turmoil. Conflict and instability is growing in many key regions.
This increases the challenges of tackling poverty, making growth more inclusive, and evolving a sustainable model of development.
Restoring a climate of peace and stability is an urgent global need. This calls for newer avenues of cooperation and collaboration.
I believe BRICS can answer this call. This I do because of the uniqueness of BRICS as an international institution. For the first time it brings together a group of nations on the parameter of 'future potential'; rather than existing prosperity or shared identities. The very Idea of BRICS is thus forward-looking.
I therefore believe it can add fresh perspectives and mechanisms, to existing international institutions.
Thus, we must ensure that the future development of our partnerships, and institutions, stays true to this original idea.
BRICS must provide a united and clear voice in shaping a peaceful, balanced and stable World.
We should intensify our cooperation in confronting global challenges; like Terrorism, Cyber Security and Climate Change.
BRICS must also play a proactive role in shaping the global
discourse on Growth and Development. This includes shaping the
post-2015 Development Agenda to keep the central focus on tackling
We must seek urgent reforms of global institutions of governance like the UN Security Council and international financial institutions.
We must help shape the WTO regime. An open trading regime is critical for strong, balanced and sustainable global economic growth.
This must address the development aspirations of the developing world.
It must also accommodate the special needs of the weak especially in areas such as Food Security.
Excellencies, BRICS has gained enough horizontal influence to compel the world to take notice. Our own greater good, however, lies more in deepening our bonds vertically.
This is why I have spoken on decentralizing this powerful forum in our earlier deliberations. We must proactively move beyond being Summit-centric.
We must champion Sub-national Level exchanges. Champion engagement between our States, Cities and other local bodies.
BRICS should in fact, be driven by 'People to People' contact. Our Youth in particular must take a lead in this. BRICS should explore developing innovative mechanisms of Youth engagement. A possible initiative, could focus on nurturing Innovation, by establishing a BRICS Young Scientists' Forum.
Another possibility, could be the setting up of BRICS language schools; offering language training in each of our languages.
We could, also consider establishing, Massive Open Online Courses, for making quality education, accessible to all.
We could also explore setting up a BRICS University. This would connect campuses in each of our countries; virtually, as well as through intensive student, faculty and research collaboration.
Excellencies, I am convinced that each of us can succeed more by
working together more closely.
We must harness each other's strengths, in knowledge, skills and resources.
We must evolve mechanisms to share our experiences, innovations and technology. Numerous avenues can be explored, such as:
-Sharing our experiences on development of affordable and reliable Clean Energy technologies.
-Harnessing advanced technology, like satellite communication, to make quality Health and Education more accessible.
-Developing a Framework for promoting Tourism among BRICS countries.
-Sharing experiences on Disaster Management, and
-Collaboration and Competitions in Sports.
Excellencies, Economic forces are becoming increasingly important in global relationships. Domains like; Trade, Tourism, Technology, Tradition and Talent; have the power, to redefine existing paradigms.
Each of us in BRICS brings a unique blend of experience and resources. We represent four continents. Each one of us enjoys comparative advantages and complementary strengths. BRICS should develop mechanisms to harness the same; for furthering our combined as well as individual good. Great work has already been done in this domain.
The vision of a New Development Bank, at the Delhi Summit two years ago, has been translated into a reality, in Fortaleza. It will benefit BRICS nations. But will also support other developing nations. And, it will be rooted in our own experiences, as developing countries.
The BRICS Contingent Reserve Arrangement gives BRICS nations a new instrument for safeguarding their economic stability. This is an important initiative at a time of high volatility in global financial markets.
The MoU on Cooperation between Export Credit Guarantee Agencies, and the inter-Bank Cooperation Agreement on Innovation are other tangible steps that will spur cooperation among BRICS countries.
I believe we have now reached a level where we should be even more ambitious.We should focus on more such tangible mechanisms and outcomes. Make BRICS a platform of Impact.
Excellencies, we have an opportunity, to define the future - of not just our countries, but the world at large. Coming from a land where the idea of Vasudhaiva Kutumbakam - the 'whole world being one family' - is rooted deep in our ethos; I take this is as a great responsibility.
Our steps must reinforce the hopes, aspirations and confidence, of the developing world.
Once again, I thank President Rousseff and the wonderful people of Brazil, for hosting this Summit.
Source: India Today