Prime Minister Narendra Modi has said the group is not aiming to replace global institutions Indian Prime Minister Narendra Modi on Wednesday highlighted the progress achieved by the BRICS group over the past two decades, which now represents 40% of the world’s population and around 30% of the global economy. He added that he believes BRICS “will emerge as a more effective medium to face global challenges.” Modi stressed that BRICS should move forward “in a timely manner” in pushing for reforms