New Delhi: Prime Minister Narendra Modi on Friday called upon BRICS countries to transform the grouping’s growing economic strength into concrete action and global solutions. Addressing the BRICS Business Forum 2026 in New Delhi, he said BRICS has evolved significantly since its formation in 2006.
PM Modi said the BRICS family now comprises 21 countries, including partner nations, representing around 50% of the world’s population, 40% of global GDP and more than 25% of global trade.
He highlighted India’s focus on resilience, innovation, cooperation and sustainability during its BRICS presidency. He said India is rapidly developing infrastructure and strengthening capabilities in sectors such as semiconductors, quantum technology, critical minerals, biotechnology and shipbuilding.
India’s Startup Power Highlighted
The Prime Minister said India has more than 2 lakh startups and over 120 unicorns, making the country an emerging hub for global solutions. He said Indian startups are working in areas including artificial intelligence, healthcare, education, green hydrogen, batteries, defence and space.
He also highlighted the success of UPI, describing it as an example of innovation implemented at population scale.
Focus on Trade and Business Cooperation
PM Modi said that while trade barriers are increasing globally, India is working to create economic bridges. He emphasized reducing barriers within BRICS and creating greater opportunities for businesses.
He highlighted initiatives such as the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund, aimed at connecting startups and small businesses with markets and finance.
Three Key Targets for BRICS
As BRICS enters its third decade, PM Modi urged the BRICS Business Council to work towards three specific goals:
Identify and work to remove the top 10 trade barriers among BRICS countries.
Help 100 BRICS startups every year expand into other BRICS markets.
Create 1,000 new business partnerships among BRICS countries every year.
The Prime Minister also stressed the importance of secure sea routes, freedom of navigation and the safety of seafarers for the growth of global trade.
Calling for greater cooperation, PM Modi said BRICS must turn its ambition into action and collective strength into global solutions, helping not only the member countries but also contributing to global growth and development.
