Goa: October 16, 2016. The five leaders of the BRICS group of emerging economies have ended a two-day summit with a pledge to speed global economic recovery as well as fight terrorism and extremism, forces that they said pose a threat to regional and international peace and stability. Meeting in the beach resort state of Goa in southwestern India, the five countries known collectively as BRICS -- Brazil, Russia, India, China and South Africa -- adopted a final declaration on October 16 endorsing their commitment to act against the financing of terror groups and their supplies of weapons and other equipment. Speaking at the meeting, Indian Prime Minister Narendra Modi branded Pakistan a "mothership of terrorism.” "Tragically, the mothership of terrorism is a country in India's neighborhood," Modi was quoted as saying, in a veiled reference to Pakistan. No immediate reaction was available from Pakistan's Foreign Ministry. Modi told the presidents of Brazil, Russia, China, and South Africa that terrorism poses a “grave threat to peace, security, and development. The sponsors of terrorism were "as much a threat to us as the terrorists themselves," Modi said in his closing remarks to reporters. New Delhi accuses Islamabad of backing militant groups in disputed Kashmir as well as of sending fighters to other parts of the country to carry out acts of violence. Pakistan denies the allegations. The final summit declaration did not level any blame over the tensions between India and Pakistan. On October 15, a series of bilateral meetings saw Russia and India sign energy and defense deals worth billions of dollars. BRICS members represent nearly half of the world's population and a quarter of its economy. But the grouping faces the tough task of asserting its growing influence as a power group.