New Delhi: Prime Minister Narendra Modi on Friday called for greater economic cooperation among BRICS countries, proposing measurable targets to reduce trade barriers, help startups expand across member nations and create new business partnerships.
Addressing the BRICS Business Forum 2026, Modi said BRICS had grown significantly since its launch in 2006 and now represented 21 countries, including partner nations, accounting for about 50% of the global population, 40% of global GDP and more than 25% of world trade.
Modi said the combined GDP of BRICS countries had grown around 4.5 times over the past two decades, compared with roughly 2.5 times growth in global GDP.
Highlighting India’s BRICS presidency theme — “Building for Resilience, Innovation, Cooperation and Sustainability” — he said India was strengthening supply chains and expanding infrastructure while developing capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology.
He urged businesses to follow the approach of “Make in India, Innovate with India, and Scale for the World.”
Modi highlighted India’s startup ecosystem, saying the country now has more than 200,000 startups and over 120 unicorns.
He said BRICS should help take innovations in areas including artificial intelligence, green hydrogen, batteries, defence and space to global markets.
The Prime Minister also highlighted Unified Payments Interface (UPI), saying India’s digital payments ecosystem was enabling financial inclusion at population scale and accounting for about half of the world’s real-time payments.
With trade barriers rising globally, Modi said India was focused on building “economic bridges” and reducing barriers within BRICS.
He urged the BRICS Business Council to work towards three measurable goals: preparing a report on the top 10 trade barriers among BRICS countries, supporting 100 BRICS startups every year to expand into other member markets, and developing 1,000 new business partnerships.
He also highlighted cooperation in agriculture, healthcare, skills and smart grids, along with initiatives such as the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund.
Calling for secure sea lanes and safe shipping, Modi reiterated India’s support for freedom of navigation and the safety of seafarers. He also underlined the role of women entrepreneurs, noting that nearly 200 women business leaders participated in the BRICS Women’s Business Alliance meeting in India.
