India backs fair, rule-based trading system: ls speaker - the statesman

India supports a fair and rule-based global trading system that adequately addresses the needs and aspirations of the Global South, Lok Sabha Speaker Om Birla has said. “India’s economic

journey over the past decade has been remarkable. Despite global uncertainties and domestic challenges, India has consistently outperformed the global growth average. Rising from the tenth

largest economy in 2014 to the fourth largest today is a testament to India’s robust policies and the strength of its people. From 2014-15 to 2024-25, India’s GDP has grown at an average

rate of over 7 per cent, making it the fastest-growing major economy in the world,” he said while addressing the 2nd Working Session of the BRICS Parliamentary Forum at Brasilia, Brazil, on

the theme ‘BRICS Parliamentary Action in Search of New Paths for Economic Development.’ Advertisement The speaker said, “India views the BRICS Parliamentary Forum as a vital platform, where,

through shared efforts and dialogue, we can redefine the contours of economic development. This forum further reinforces our commitment to cooperation, solidarity, and the welfare of our

citizens.” Advertisement He observed that despite global challenges, BRICS nations have made inspiring progress in the realm of economic development. ”India believes that to further

strengthen this progress, we must enhance intra-BRICS trade, investment, and financial cooperation.” He also stated that India welcomes the recent expansion of the BRICS grouping. This,

according to him, will make the collaboration among member nations more inclusive and impactful. Mr Birla noted that ”India is not only the world’s largest and most vibrant democracy but

also a nation with stable governance, strong constitutional institutions, the rule of law, a transparent and accountable tax system, and decisive leadership that has earned the trust of

global investors”. Observing that India’s greatest strength is its youthful population, he said that “Over 65 per cent of Indians are under the age of 35. This youthful energy is propelling

India forward—be it in manufacturing, digital technology, healthcare, or green energy.” Advertisement