The BRICS has adopted a counter-terrorism action plan, Prime Minister Narendra Modi said on Thursday while chairing a virtual summit of the five-nation grouping.

The summit, which was hosted by India, was attended by Russian President Vladimir Putin, Chinese President Xi Jinping, South African President Cyril Ramaphosa and Brazil's Jair Bolsanaro.

The BRICS (Brazil-Russia-India-China-South Africa) brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade.

In his opening remarks, Modi said India has received full cooperation from all BRICS partners during its chairmanship and listed various achievements of the grouping.

"Today we are an influential voice for the emerging economies of the world. This platform has also been useful for focusing attention on the priorities of developing nations as well," he said.

The BRICS has created strong institutions like the New Development Bank, the Contingency Reserve Arrangement and the Energy Research Cooperation Platform, he noted. "These are all very strong institutions," he added.

"However, it is also important that we do not become too self-satisfied and we must ensure that BRICS is even more result-oriented in the next 15 years," he said.

The Prime Minister said the grouping has achieved several "firsts" and referred to the holding of the first-ever BRICS digital summit recently.

"This is an innovative step to increase health access with the help of technology. In November, our Water Resources Ministers will be meeting for the first time under the BRICS format. It is also the first time that BRICS has taken a collective position on 'Strengthening and Reforming Multilateral Systems'," Modi said.

"We have also adopted the BRICS Counter-Terrorism Action Plan," he said.

The Prime Minister said with cooperation between the customs departments, intra- BRICS trade will become easier.

"There has also been a consensus with regards to starting a virtual BRICS vaccination research and development centre. BRICS Alliance on green tourism is also another new initiative," he said.