Prime Minister Narendra Modi on Friday said the “speed, scale and optimism” of BRICS were increasingly evident in its economic journey as he called for stronger cooperation among businesses of member countries to unlock the grouping’s vast potential in trade, investment, innovation and technology.
Addressing the BRICS Business Forum in New Delhi ahead of the leaders’ summit, Modi highlighted the growing economic weight of the expanded grouping and said its members had the resources, markets, talent and technological capabilities to become powerful engines of global growth. He underlined the importance of converting the economic strength of BRICS into deeper partnerships among businesses and creating opportunities that could benefit people across member countries.
Modi pitches deeper business ties
The Prime Minister said the transformation underway across BRICS economies demonstrated the scale of opportunities available to businesses. Greater collaboration among companies, entrepreneurs and investors, he indicated, could accelerate economic integration and create new avenues for growth across the grouping.
Modi stressed the importance of building stronger links between the private sectors of BRICS countries and expanding cooperation in emerging areas. The grouping has increasingly focused on digital transformation, innovation, resilient supply chains, infrastructure, sustainable development and stronger engagement between start-ups and small and medium enterprises.
India has made economic cooperation a central element of its BRICS chairship in 2026, with the theme “Building for Resilience, Innovation, Cooperation and Sustainability”. The Business Forum is among the key engagements accompanying the 18th BRICS Summit being hosted by India in New Delhi.
BRICS expands economic footprint
The Prime Minister’s remarks came as the enlarged grouping seeks to translate its growing share of the world economy into greater intra-BRICS trade and investment. BRICS has expanded considerably from its original five members — Brazil, Russia, India, China and South Africa — bringing several major emerging economies into its framework.
The expansion has increased the grouping’s influence across energy, manufacturing, commodities, technology and consumer markets. BRICS countries have also been discussing ways to improve trade connectivity, strengthen supply chains, expand digital cooperation and create more efficient mechanisms for financing infrastructure and sustainable development.
The grouping has placed particular emphasis on the role of the private sector in translating government-level cooperation into concrete investments and commercial partnerships. The BRICS Business Council has been working on proposals to boost intra-group trade through digitalisation and regulatory cooperation, strengthen logistics connectivity, expand financing options and support cooperation in areas ranging from energy transition to agriculture and skills.
Innovation key to next phase
Technology and innovation have emerged as another major pillar of BRICS economic cooperation. Member countries have sought greater engagement in artificial intelligence, digital public infrastructure, advanced manufacturing, Industry 4.0 and start-up ecosystems while exploring ways to help smaller businesses gain access to larger markets.
India has also pushed for stronger collaboration between start-ups and SMEs across BRICS economies, arguing that entrepreneurship and technology can play an important role in making economic growth more inclusive.
The New Delhi summit comes at a time of heightened geopolitical and economic uncertainty, with conflicts, trade disruptions and pressures on global supply chains sharpening the focus on economic resilience. BRICS members have increasingly advocated greater cooperation among emerging and developing economies to strengthen their ability to withstand external shocks.
Business cooperation in focus
Modi’s address sought to place businesses at the centre of that effort, with the Prime Minister presenting BRICS as a platform capable of bringing together capital, markets, technology and entrepreneurial talent on an unprecedented scale.
The Business Forum also sets the stage for the BRICS leaders’ deliberations on September 12 and 13, where economic and financial cooperation, global governance, technology, sustainable development and geopolitical challenges are expected to figure prominently.
For India, which assumed the BRICS chairship on January 1, the summit is an opportunity to push for a more results-oriented grouping as it marks two decades of BRICS cooperation. Modi’s message to business leaders was that the grouping’s growing economic weight must now be matched by faster and more ambitious commercial partnerships capable of delivering tangible gains across its member economies.