BRICS nations accelerated economic growth : Modi

Prime Minister Narendra Modi on Thursday said that despite the global economic recession, the BRICS countries -- Brazil, Russia, India, China and South Africa -- contributed to economic development and brought millions out of poverty.

Addressing the BRICS Business Forum here in Hindi, the Prime Minister said BRICS nations account for 50 per cent of the world's economic growth.

"Despite the recession in the world, the BRICS nations accelerated the economic development, drove millions of people out of poverty and achieved new breakthroughs in technology and innovation. Now, 10 years after the founding of BRICS, this forum is a good platform to consider the direction of our efforts in the future", he said.

Modi said he is happy to be a part of the two-day 11th BRICS Summit.