“India brings a large and growing market”: EAM Jaishankar at BRICS Business Forum

New Delhi : External Affairs Minister S Jaishankar on Friday highlighted India’s large and growing market, expanding manufacturing capabilities and strong talent pool, saying the country can contribute significantly to the next phase of BRICS economic cooperation.

Addressing the BRICS Business Forum, Jaishankar said India brings a combination of manufacturing capabilities, digital experience and a dynamic innovation and entrepreneurial ecosystem.

“India brings a large and growing market, expanding manufacturing capabilities, deeper pools of talent, digital experience and a dynamic innovation and entrepreneurial base,” Jaishankar said.

He said the business forum could play an important role as BRICS leaders prepare to meet and called for bringing a clear business perspective to the grouping’s next phase.

“As our leaders prepare to meet, the most useful contribution of this forum would be to bring a clear business perspective to the next phase of BRICS,” the External Affairs Minister said.

The BRICS Business Forum is the grouping’s principal platform for private-sector engagement, held each year in the country hosting the BRICS Summit, immediately ahead of the Leaders’ meeting. It brings together prominent business representatives, government Ministers and Heads of State to exchange views on issues such as trade, investment, finance, technology and sustainable economic development that influence the BRICS agenda.

The forum contributes directly to shaping the grouping’s economic priorities. It provides an avenue for presenting the perspectives and recommendations developed by the BRICS Business Council and for bringing these proposals into discussions with policymakers. The Forum’s outcomes, along with the Council’s recommendations, frequently inform BRICS Summit declarations and subsequent programmes of work, including initiatives aimed at expanding intra-BRICS trade, investment, digital economy, MSMEs, standards cooperation and value chain integration.

The main programme of the BRICS Summit will begin on September 12, with leaders expected to discuss initiatives of India’s presidency and prospects for further strengthening the BRICS strategic partnership.

India’s BRICS chairship has focused on strengthening international cooperation across trade, digital technology, finance, energy security and global governance reform.

The September summit is expected to address resilient global supply chains, cross-border payment integration, greater use of national currencies, MSME development, digital trade and artificial intelligence.

Energy security, climate resilience, development finance, expansion of the New Development Bank and reforms of multilateral financial and political institutions are also expected to feature prominently. (ANI)