New Delhi [India], September 11 (ANI): Prime Minister Narendra Modi on Friday said that while trade barriers are rising globally, India is building economic bridges, highlighting the country's free trade agreements with nearly 40 countries since 2014.
Addressing the Leaders' Session of the BRICS Business Forum in New Delhi, PM Modi said India's approach remains focused on reducing barriers and expanding opportunities for businesses.
"Today, while trade barriers are rising globally, India is building economic bridges. Since 2014, we have entered into free trade agreements with nearly 40 countries," PM Modi said.
"Our approach remains focused on reducing barriers and expanding opportunities for businesses. That is why, under our BRICS presidency, we have established new cooperation networks in sectors such as agriculture, health, skills, and smart grids," he said.
He said India has also launched initiatives such as the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund to connect startups and MSMEs with markets and finance.
"To connect startups and MSMEs with markets and finance, we have launched initiatives like the BRICS Incubator Network, the BRICS MSME Portal, and the BRICS Startup Innovation Fund. You can all leverage these cooperation frameworks to enhance the exchange of investment and talent among our nations," the Prime Minister said.
PM Modi also highlighted India's focus on resilience, saying the country has diversified and strengthened supply chains across sectors ranging from energy to technology.
"The theme of India’s BRICS chairmanship is 'Building for Resilience, Innovation, Cooperation, and Sustainability.' Over the past 12 years, India has made this mantra the foundation of its economic and trade policies," he said.
"Regarding resilience, India has made supply chains spanning sectors from energy to technology more diversified and reliable. It is a result of this resilience that, even amidst global uncertainties, India today offers the assurance of growth and stability," he added.
He said India is rapidly expanding its roads, railways, ports and airports while building capabilities in strategic sectors including shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology.
"We are rapidly expanding our roads, railways, ports, and airports. Simultaneously, we are building new capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals, and biotechnology," PM Modi said.
Highlighting India's digital infrastructure, PM Modi said the Unified Payments Interface (UPI) has given fresh momentum to financial inclusion and digital transactions.
"India’s Unified Payments Interface (UPI) has given fresh momentum to financial inclusion and digital transactions on a massive scale. Today, 50% of the world's real-time payments take place using this technology," he said.
The BRICS Business Forum is the flagship private-sector platform of the grouping and brings together business leaders, Ministers and Heads of State to discuss trade, investment, finance, technology and development challenges.
The forum is being held as India hosts the 18th BRICS Summit under its 2026 chairship. India's chairship is guided by the theme "Building for Resilience, Innovation, Cooperation and Sustainability", with development, sustainability and innovation among its key focus areas.
The Leaders' Session was attended by BRICS leaders, Chairs of the BRICS Business Council and the BRICS Women's Business Alliance. PM Modi also joined the dignitaries for a group photograph.
BRICS currently comprises 11 countries -- Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE.
According to background information on India's 2026 chairship, BRICS members collectively account for around 49.5 per cent of the global population, 40 per cent of global GDP and 26 per cent of global trade.
The Business Forum also plays an agenda-setting role, with its conclusions and Business Council recommendations regularly reflected in BRICS Summit declarations and follow-up work plans. (ANI)
Trade barriers rising globally, India building economic bridges: PM Modi at BRICS Business Forum
