Prime Minister Addresses BRICS Business Forum 2026, Emphasizes Economic Cooperation and Innovation

Addressing the BRICS Business Forum 2026, the Prime Minister described the group's two-decade journey as significant. He noted that the group, which began with four countries in 2006, has now grown into a large family of 21 nations. BRICS countries now represent 40 percent of the global GDP and over 25 percent of world trade.

The Prime Minister stated that the combined GDP of BRICS nations has grown at twice the pace of the world over the past years. He mentioned that during its presidency, India is working on the mantra of 'Building for Resilience, Innovation, Cooperation, and Sustainability.' India has prioritized diversity and reliability in its economic policies, allowing the country to remain on a growth trajectory despite global uncertainties.

Highlighting the startup revolution in India, the Prime Minister noted that the country now hosts over two lakh startups and more than 120 unicorns. He cited India's UPI system as a major example of financial inclusion on a global scale, adding that India's digital ecosystem is now being adopted by several other nations.

The Prime Minister placed special emphasis on reducing trade barriers among BRICS nations. He urged the BRICS Business Council to prepare a report on removing the top 10 trade barriers. He also suggested that startups should expand into each other's markets and increase mutual partnerships.

Describing maritime security and the safety of trade routes as essential for global trade, the Prime Minister affirmed that India supports 'freedom of navigation.' He also praised the role of the BRICS Women's Business Alliance and emphasized bringing women entrepreneurs into the mainstream of development.

In conclusion, the Prime Minister called for transforming the collective strength of BRICS into global solutions. He expressed confidence that the third decade of BRICS would prove to be a guiding force for the world.