- Prime Minister Modi urged deeper economic integration among BRICS members to boost trade and talent mobility
- He highlighted BRICS' expansion to 21 nations representing nearly 40% of the global economy
- Modi praised India’s infrastructure growth and startup ecosystem with over 200,000 startups
Prime Minister Narendra Modi has called for deeper economic integration among BRICS members, advocating higher intra-bloc trade, greater movement of skilled talent and coordinated efforts to protect vital maritime routes.
Speaking at the BRICS Business Forum, Modi said the bloc has expanded into a 21-nation grouping, collectively representing nearly 40% of the global economy.
ALSO READ : BRICS Calls For Bigger Emerging-Market Voice In IMF, World Bank; Criticises Unilateral Tariffs
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
He said the bloc's 20-year journey reflected its growing economic influence and optimism about its future.
Modi said BRICS economies are expanding at roughly twice the global growth rate, highlighting the grouping's increasing role in the world economy.
“BRICS economies have expanded at twice the growth rate of the world economy,” he said.
He pointed to India's infrastructure expansion, including the development of ports and airports, as well as the country's rapidly growing startup ecosystem.
“India is growing in an unstable world,” Modi said, citing the country's economic resilience and stability.
ALSO READ : PM Modi Accepts Putin's Invite To Russia For Annual Summit
He noted that India now has more than 2 lakh startups, with companies increasingly working across emerging areas such as artificial intelligence and edtech.
The Prime Minister also highlighted India's digital payments infrastructure, saying the Unified Payments Interface (UPI) has significantly accelerated digital transactions and that UPI technology is involved in around 50% of global payments.
Modi said India is positioning itself as a major centre of opportunity for manufacturing, supported by diversified supply chains and expanding infrastructure.
He also called for greater participation of women entrepreneurs in the growth story.
Beyond individual economies, Modi stressed the need for BRICS countries to deepen economic integration.
He called for increased trade and talent mobility among member nations while seeking steps to reduce barriers to cross-border economic activity.
The Prime Minister also underscored the importance of safeguarding sea lanes and shipping routes, given their significance for global commerce and supply chains.
He said BRICS should seek to convert its collective economic strength into practical solutions to global challenges, with stronger cooperation helping member countries navigate an increasingly uncertain global environment.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
