On Friday, India called on Brics nations to foster a more predictable business environment and strengthen trade relations. The country emphasized the importance of resilient supply chains and proposed linking payment systems to facilitate trade in local currencies. This initiative aligns with Russia’s recent suggestion to establish a Brics grain exchange aimed at enhancing food security within the bloc.
“We meet at a time when [the] global political and economic order is under churn. Volatility, uncertainty, and complexity have become defining features of the world around us. Energy systems capable of coping with disruption, and transition pathways suited to different national circumstances, were also needed, he added, citing digital public infrastructure (DPI), artificial intelligence, fintech and advanced manufacturing as areas of major opportunity.
Delivering the keynote address at the Brics Business Forum, external affairs minister S Jaishankar said India’s chairship was focused on resilience, innovation, cooperation and sustainability. We are witnessing the economic consequences of geopolitical conflicts, of pandemics, and of climate-related disruptions,” he said. Jaishankar called for “greater self-reliance” within Brics to strengthen economic security. “The objective is to strengthen our ability to absorb shocks while remaining connected and competitive,” he said, listing genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships and transparent trade and investment as priorities.
