Prime Minister Narendra Modi has highlighted the growing economic strength of BRICS, saying the grouping now represents 50% of the world’s population, 40% of global GDP and more than 25% of global trade. He was speaking at the BRICS Business Forum in New Delhi.
Modi said the combined GDP of BRICS nations has grown nearly 4.5 times since the grouping was formed in 2006, compared with around 2.5 times growth in global GDP. He said BRICS countries are also emerging as important centres for innovation and global solutions.
To strengthen the economic foundation of the grouping, the Prime Minister proposed a “10-100-1000” action plan. The initiative focuses on identifying and resolving 10 major trade barriers among BRICS countries, supporting 100 BRICS startups every year and creating at least 1,000 new business partnerships annually.
Modi positioned India as a trusted partner in manufacturing, technology and green energy, calling on businesses to “Make in India, Innovate with India and Scale for the world.” He said India is building economic bridges at a time when trade barriers are rising globally.
The Prime Minister also stressed the importance of secure supply chains, open trade routes and safe maritime navigation. He said global trade can progress only when sea lanes remain secure, supply routes stay open and seafarers are safe.
With BRICS expanding its economic and strategic influence, India is seeking to use the grouping as a platform for stronger trade, investment, innovation and business cooperation among emerging economies.
