Prime Minister Narendra Modi presented India at the BRICS Business Forum in New Delhi as a country that promotes unity amidst an increasingly fragmented global economy. He stated that in response to growing trade barriers, India is expanding free trade partnerships, strengthening supply chains, and creating new opportunities for businesses across the BRICS group.
Addressing the BRICS Business Forum Leaders' Session, Prime Minister Modi noted that the global trade environment is becoming more complex as countries increasingly use tariffs, restrictions, and other barriers to protect domestic production. Against this backdrop, he emphasized that India is promoting greater economic integration by entering into and signing trade agreements with a growing number of nations.
Modi stated: 'Today, while global trade barriers are rising, India is building economic bridges. Since 2014, we have signed free trade agreements with nearly 40 countries.'
The Prime Minister's message was aimed not only at demonstrating India's expanding trade network but also at presenting the country as a stable and increasingly attractive destination for investment during a period when global companies seek to reduce dependence on concentrated supply chains.
He continued: 'Our approach remains focused on reducing barriers and expanding opportunities for business.'
India aims for a deeper economic role within BRICS
Leveraging India's presidency in BRICS, Prime Minister Modi also advocated for strengthening economic cooperation among the 11-member group. Instead of limiting interaction within BRICS only to government-to-government contacts, India is working to create networks that allow companies, startups, and small businesses access to new markets, investments, and technologies.
Under India's chairmanship, new cooperation networks were launched in areas such as agriculture, healthcare, skills development, and intellectual networks. These initiatives aim to transform the political and economic weight of BRICS into practical opportunities for business.
Furthermore, India launched the BRICS Incubator Network, the BRICS Portal for SMEs, and the BRICS Innovation Fund for Startups. These programs are particularly important for micro, small, and medium enterprises and startups, which often face greater difficulties than large corporations when entering foreign markets, seeking investors, and establishing business partnerships.
Modi stressed: 'To connect startups and SMEs with markets and funding, we have launched initiatives such as the BRICS Incubator Network, the BRICS Portal for SMEs, and the BRICS Innovation Fund for Startups.'
He called on businesses from BRICS countries to utilize these platforms to increase the movement of investments, technologies, and talent among member countries.
Supply chain resilience becomes a key priority
A major theme of Prime Minister Modi's address was economic resilience. The disruption of global supply chains in recent years, caused by the Covid-19 pandemic, geopolitical conflicts, and trade tensions, has forced countries to diversify sources of energy, technology, raw materials, and finished products.
Modi reported that India is working to make its supply chains more robust and diversified. He noted: 'The theme of India's presidency in BRICS is 'Building for Resilience, Innovation, Cooperation, and Sustainable Development'. Over the last 12 years, India has made this principle the foundation of its economic and trade policy.'
He pointed to India's efforts in various sectors, from energy to technology, asserting that stronger and more diversified supply chains will help the economy withstand external shocks. The Prime Minister added that it is thanks to this resilience that India today offers guarantees of growth and stability even amid global uncertainty.
The focus on resilience also reflects India's broader aspiration to reduce vulnerabilities in strategically important sectors. The government is intensifying efforts to build up domestic production capacity while attracting global companies looking to diversify production outside existing manufacturing hubs.
Infrastructure and strategic technologies
Prime Minister Modi highlighted infrastructure expansion as another pillar of India's economic strategy. He stated that India is rapidly increasing its network of roads, railways, ports, and airports, arguing that improved physical connectivity is necessary to reduce logistics costs and improve the movement of goods and people.
Simultaneously, the government is working to develop domestic capabilities in technologies and industries of long-term economic and strategic importance. Modi said: 'We are rapidly expanding our roads, railways, ports, and airports. At the same time, we are creating new opportunities in strategic sectors such as shipbuilding, semiconductors, quantum technologies, critical minerals, and biotechnology.'
These sectors are becoming increasingly significant as they intersect with economic and national security. For example, semiconductors are essential for everything from smartphones and cars to advanced weaponry and artificial intelligence systems. Critical minerals are required for batteries, electronics, and clean energy technologies, while shipbuilding is important for both trade and maritime security.
By building up domestic capabilities in these areas, India aims to become not just a large consumer market, but a producer and supplier within global value chains.
UPI as India's digital infrastructure model
Prime Minister Modi also presented India's digital public infrastructure, specifically the Unified Payments Interface (UPI), as an example of how technology can expand economic participation. UPI has transformed payment methods in India by enabling fast digital transactions between bank accounts and mobile applications. Modi noted that this system has given a new impetus to financial inclusion and digital payments on a massive scale.
He stated: 'Today, 50% of global real-time payments are made using this technology.'
India is increasingly promoting its digital infrastructure model internationally, especially among developing economies. The broader goal is to demonstrate how digital systems can integrate more people and businesses into the formal economy, making transactions faster and cheaper.
The BRICS Business Forum is the private sector platform of the group, bringing together business leaders, government ministers, and heads of state to discuss trade, investment, finance, technology, and development. Its importance extends beyond discussions at individual meetings, as recommendations from the BRICS Business Council and Forum can influence summit declarations and subsequent work programs, giving the business community a role in shaping the bloc's economic agenda.
BRICS members and partner countries currently account for over 40% of global GDP. The Leaders' Session in New Delhi was attended by BRICS leaders, chairs of the BRICS Business Council, and the BRICS Women's Business Alliance. Modi also joined the participants for a group photo. The forum is held in connection with India hosting the 18th BRICS Summit as part of its presidency in 2026. India's presidency is focused on the theme 'Building for Resilience, Innovation, Cooperation, and Sustainable Development', with development, sustainable development, and innovation being its main priorities.
The significance of BRICS for India
BRICS has significantly expanded from its initial five-country composition to include 11 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the UAE. According to reference information on India's 2026 presidency, this group collectively represents about 49.5% of the world's population, 40% of global GDP, and 26% of world trade.
Thus, for India, the economic significance of BRICS goes beyond the traditional diplomatic role of the group. Its large consumer markets, energy producers, manufacturing economies, and new technology sectors create opportunities for more active trade and investment.
Modi's speech underscored India's position in the changing economic landscape: as a nation striving to maintain open markets, diversify supply chains, build strategic industrial potential, and leverage its digital infrastructure to expand economic participation. His overarching idea was that in a world where geopolitical tensions and protectionism are reshaping global trade, India wants to position itself as a reliable economic partner capable of connecting business, markets, investments, and technology in an increasingly fragmented world.