Prime Minister Narendra Modi on Friday said the economic strength of BRICS nations has grown at nearly twice the pace of the rest of the world over the past several years, while highlighting the grouping’s
growing role in global innovation, trade and economic cooperation. Follow Live Updates Here
Addressing the leaders’ session of the BRICS Business Forum, Modi said BRICS nations now account for 50% of the world’s population, 40% of its GDP and more than 25% of global trade.
VIDEO | Delhi: “India is building economic bridges at a time when trade barriers are rising globally. Since 2014, India has entered into FTAs with nearly 40 countries, and within BRICS, our approach is to reduce barriers and expand business opportunities,” says PM Modi at the… pic.twitter.com/TXaGkJ9UlJ
— Press Trust of India (@PTI_News) September 11, 2026
“Today, BRICS nations represent 50% of the world’s population, 40% of its GDP, and over 25% of global trade. Moreover, while global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold. In other words, the economic strength of BRICS has grown at nearly twice the pace of the rest of the world. BRICS nations are also emerging as key hubs for global innovation and solutions. New possibilities for innovation, spanning everything from grassroots initiatives to frontier technologies, are taking shape within our countries. The growing scale, speed, and optimism of BRICS are clearly evident among us. This forum, hosted in India, is the largest BRICS Business Forum to date.”
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Modi said BRICS countries were emerging as important centres for innovation and solutions at a time of global uncertainties. He also highlighted the scale of the business forum being hosted by India.
The Prime Minister said India had made resilience and innovation the foundation of its economic and trade policies.
“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,” the Prime Minister said.
VIDEO | Delhi: At the BRICS Business Forum, Prime Minister Narendra Modi says, “Innovation at population scale’ is another distinctive feature of India’s innovation story; UPI gave fresh momentum to financial inclusion, digital transactions on a massive scale; 50% of world’s… pic.twitter.com/26OW5SHZ1u
— Press Trust of India (@PTI_News) September 11, 2026
Elaborating on India’s approach to resilience, Modi said the country had diversified and strengthened supply chains across sectors ranging from energy to technology. He said India was also expanding its infrastructure and developing capabilities in strategic sectors.
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“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. 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…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 added.
PM Modi also highlighted India’s trade policy at a time when trade barriers are rising globally. He said India was instead working towards creating greater economic connectivity.
“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,” he said.
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The Prime Minister said India’s approach was focused on reducing barriers and creating greater opportunities for businesses. He also highlighted several initiatives launched under India’s BRICS presidency to strengthen cooperation among member countries.
“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. 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,” he added.
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India is hosting the 18th BRICS Summit, with its chairship guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” The theme reflects India’s focus on strengthening existing achievements and institutional effectiveness, while placing development, sustainability and innovation at the heart of the agenda.
India has also said its BRICS chairship seeks to highlight the aspirations of the Global South and reinforce the grouping as a constructive and solutions-oriented forum.
