The sluggish growth of the Indian economy has implications for all BRICS (Brazil, Russia, India, China and South Africa) economies, South Africa's Trade & Industries Minister Rob Davies said.

Davies said that BRICS economies continued to grow despite recession in many developed economies of the world, but added that the growth rates had slipped over the past few years. The South African Minister was speaking at a press conference at the recently concluded two-day BRICS Business Council meet.

Speaking on the topic, he added, "That is a fact and it has all kinds of consequences. So if there is lower growth in India or China or Brazil, as there is (in India), it has consequences and implications for all of us."

He described the most recent global economic crisis as the biggest since the 1930's, and stressed that on the need to accelerate the building of a new type of symbiotic basis on which BRICS countries could advance further.

Patrice Motsepe, the chairman of BRICS Business Council, said the council would propose measures to remove barriers to provide a boost to trade & investment amongst the BRICS and African economies.

The BRICS Business Council was set up during the last BRICS Summit, which took place in Durban in March this year.