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Prime Minister Narendra Modi Concludes the BRICS Summit in Goa, Calls It a Success

Three agreements -- on agricultural research, co-operation between diplomatic academies and regulations on custom cooperation -- have been reached at the summit

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BRICS Logo. Source: pixabay
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October 17, 2016: Prime Minister Narendra Modi concluded the eighth summit of the emerging-market bloc of BRICS in Goa, thanking the other leaders for their support to make the summit a success.

“We have adopted the Goa declaration that lays down a comprehensive vision for our cooperation within BRICS and on international issues,” Xinhua news agency quoted Modi as saying in a press conference on Sunday.

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Three agreements — on agricultural research, co-operation between diplomatic academies and regulations on custom cooperation — have been reached at the summit.

“Our discussions that spread over three sessions today were detailed substantive and productive,” said the Prime Minister, adding that putting global economy back on track was one of the topics.

On achievement of BRICS, that groups Brazil, Russia, India, China and South Africa, Modi said the footprint of intra-BRICS engagement has expanded over time to include large areas of economic activity.

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He said the establishment of the New Development Bank and the Contingency Reserve Arrangement are “indeed signature achievements”.

BRICS is committed to strengthening consultations and cooperation on peace and security matters, he said, noting that the bloc is unanimous in recognizing the threat that terrorism, extremism and radicalization present.

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The leader also called for enhanced people-to-people exchanges and co-operations within the BRICS.

The five BRICS leaders just met last month in the eastern Chinese city of Hangzhou when China hosted the G20 summit.(IANS)

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PM Narendra Modi: Government bringing Stringent Consumer Protection Law

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Prime Minister Modi
Prime Minister Narendra Modi during a speech. IANS

New Delhi, October 26: Prime Minister Narendra Modi on Thursday said the government was in the process of enacting stringent legislation aimed at protecting consumers along with setting up a Consumer Protection Authority (CPA).

“Consumers’ protection is this government’s priority. We are in the process to bring a new law on consumer protection keeping in mind the need of the country and business practices here,” Modi said at an International Conference on Consumer Protection for East, South and South-East Asian Countries.

“We are in the process of forming a Consumer Protection Authority, which will have executive powers, for immediate redressal.”

The rules were being streamlined to solve consumer problems in less time and at less cost, he added.

“The stress is being given on consumer empowerment. Strict provisions are being contemplated against misleading advertisements,” Modi said.

He said India was among the few countries which had enacted a law a year after the UN adopted guidelines on consumer protection in 1986.

The Prime Minister also said the prices of commodities were set to go down and consumer protection for their interest effects due to the implementation of the Goods and Services Tax (GST).

Due to the GST, the competition among companies was going to increase. So prices will go down. It will help consumers from lower middle class and poor sections,” Modi said.

“Earlier, transportation by trucks would take five days but it has come down to just three three days now as checkposts on borders have vanished after the GST. It means transportation cost has gone down. This is going to be transferred to consumers,”

Taking a dig at those opposed to the GST, he said: “Some people may be taking advantage of the lack of awareness. However, the benefits will be transferred (to consumers) in days to come.”

Talking about the conference, Modi said: “It shows how seriously we take the needs of our citizens and how we strive hard to solve their problems”.

“It is the first conference in the region, where everyone is trying in their own ways to save the interest of consumers. However, we have to keep in mind that the world is going towards a single market,” Modi said.(IANS)