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 make a significant contribution to the next phase of BRICS economic cooperation.
Addressing the BRICS Business Forum, Jaishankar said India brings together manufacturing strength, digital expertise 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,” he said.
Jaishankar said the Business Forum could play an important role as BRICS leaders prepare to meet, urging participants to bring 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,” he said.
The BRICS Business Forum is the grouping's main platform for private-sector engagement and is held annually in the country hosting the BRICS Summit, ahead of the Leaders' meeting. It brings together business leaders, government ministers and heads of state to discuss trade, investment, finance, technology and sustainable economic development.
The forum also helps shape BRICS' economic priorities by providing a platform for the recommendations of the BRICS Business Council to be presented to policymakers. Its outcomes and the council's recommendations can feed into summit declarations and subsequent programmes covering areas such as intra-BRICS trade, investment, the digital economy, MSMEs, standards cooperation and value-chain integration.
The main BRICS Summit programme will begin on September 12, with leaders expected to discuss initiatives under India's chairship and ways to further strengthen the BRICS strategic partnership.
India's BRICS chairship has focused on international cooperation in areas including trade, digital technology, finance, energy security and reform of global governance institutions.
The 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 to multilateral financial and political institutions are also expected to feature prominently.
(With inputs from ANI)
