India world's most open, investment friendly economy: PM Modi at BRICS Business Forum
Brasalia: India is the world's most "open and investment friendly" economy, Prime Minister Narendra Modi said here on Thursday as he wooed the BRICS business leaders, urging them to invest in the country and take advantage of its "limitless" possibilities and "countless" opportunities.
Addressing the closing ceremony of the BRICS Business Forum, prime minister Modi said the grouping of five countries had led to economic development despite the global economic slowdown.
"India is the most open and investment friendly economy in the world due to political stability, predictable policy and business friendly reforms. By 2024, we want to make India a five trillion dollar economy. The infrastructure alone requires USD 1.5 trillion investment," he said.
Noting that India has "limitless" possibilities and "countless" opportunities, the prime minister urged the BRICS business leaders to take advantage of them.
"I invite the business of BRICS countries to build and grow their presence in India," he said.
"BRICS countries account for 50 per cent of the world's economic growth. Despite the recession in the world, BRICS countries accelerated economic growth, drove millions out of poverty and achieved new breakthroughs in technology and innovation. Now ten years after the founding of BRICS, this forum is a good platform to consider the direction of our efforts in the future," Modi said.
The prime minister said simplifying intra-BRICS business will increase mutual trade and investment.
"Tax and customs procedures between us five countries are getting easier. The business environment is getting easier with the collaboration between intellectual property rights, and banks. I request the BRICS Business Forum to study the necessary business initiatives to take full advantage of the opportunities thus generated," he said.
"I would also like to request that priority areas in business be identified among us for the next ten years and based on them blue print of Intra-BRICS collaboration should be made," Modi said.
The prime minister said the market size, diversity and complementarities of the members of the BRICS countries were very beneficial to each other and urged the forum to map such complementarities in the five countries.
"If one BRICS country has technology, the other is related to raw materials or markets. Such possibilities are especially in electric vehicles, digital technology, fertilizer, agricultural products, food processing. I would urge the forum to map such complementarities in five countries. I would also like to suggest that at least five such areas should be identified by the next BRICS Summit in which joint ventures can be formed between us on the basis of complementarities," he said.
"Important initiatives like innovation BRICS Network, and BRICS Institution for Future Network will be considered during tomorrow's summit. I request the private sector to join these efforts focused on human resources. Connecting young entrepreneurs with these initiatives will also give more strength to business and innovation," Modi said.
The prime minister said there was a possibility of making travel, business and employment between the BRICS (Brazil, Russia, India, China and South Africa) countries more easy.
He thanked President of Brazil Jair Bolsonaro for his government's decision to give Indians visa-free entry in his country.
"I thank the President of Brazil for deciding the visa free entry to Indians. We five countries should also consider mutual social security agreement," Modi said.
Prime minister Modi is in Brazil for the 11th BRICS Summit which will focus on building mechanisms for counter-terrorism cooperation and strengthen India's ties with the world's five major economies.
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NEET student hangs self in Rajasthan's Sikar
Jaipur (PTI): A student preparing for the NEET examination allegedly committed suicide by hanging himself in a rented room in Rajasthan's Sikar on Friday, police said.
According to the police, the student allegedly hanged himself from a ceiling fan using his sister's scarf while one sister was attending coaching classes and the other was in the bathroom.
He had appeared in the NEET UG exam 2026, which was cancelled due to paper leak, they said.
Udyog Nagar SHO Rajesh Kumar said that the deceased, identified as Pradeep Meghwal, was a resident of Kanika ki Dhani village in Jhunjhunu's Gudha Gaudji area.
He had been living in a rented room in Sikar's Jaldhari Nagar area with his two sisters while preparing for NEET over the last three years.
His elder sister later found him hanging and informed the landlord and police after bringing him down, officials said.
The SHO said the body was kept at SK Hospital mortuary, and a postmortem had not been conducted.
The student's father, Rajesh Kumar Meghwal, told police that Pradeep's NEET examination had gone well and the family was expecting him to score around 650 marks.
Former Rajasthan deputy chief minister Sachin Pilot expressed grief over the incident and linked it to anxiety among students after reports of irregularities and paper leaks in NEET 2026.
Pilot said repeated paper leak incidents and cancellation of examinations were affecting students' mental health and demanded a time-bound investigation and strict action against those responsible.
