Prime Minister Narendra Modi on Friday positioned India as a bridge-builder in an increasingly fragmented global economy, saying the country is responding to rising trade barriers by expanding free-trade partnerships, strengthening supply chains and creating new avenues for businesses across the BRICS grouping.Addressing the Leaders’ Session of the BRICS Business Forum in New Delhi, PM Modi said the global trading environment is becoming more difficult as countries increasingly turn to tariffs, restrictions and other barriers to protect domestic industries. Against this backdrop, he said, India is pursuing greater economic integration by negotiating and signing trade agreements with a growing number of countries.
Brics is a grouping of 11 major economies.
“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.The Prime Minister’s message was aimed not only at highlighting India’s expanding trade network but also at presenting the country as a stable and increasingly attractive destination for investment at a time when global businesses are trying to reduce their dependence on concentrated supply chains.“Our approach remains focused on reducing barriers and expanding opportunities for businesses,” PM Modi said.
India seeks deeper economic role within Brics
PM Modi also used India’s Brics presidency to push for greater economic cooperation among the 11-member grouping.Rather than limiting Brics cooperation to government-to-government engagement, India is seeking to create networks that allow companies, startups and smaller businesses to access new markets, investment and technology.Under India’s chairship, new cooperation networks have been established in areas including agriculture, healthcare, skills development and smart grids. These initiatives are intended to translate the political and economic weight of BRICS into practical opportunities for businesses.India has also launched the Brics Incubator Network, Brics MSME Portal and Brics Startup Innovation Fund.These initiatives are particularly significant for startups and micro, small and medium enterprises, which often face greater difficulties than large corporations in entering overseas markets, finding investors and establishing business partnerships.“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,” PM Modi said.He urged businesses from Brics countries to use these platforms to increase the movement of investment, technology and talent across member economies.
Supply-chain resilience becomes a key priority
A major theme of PM Modi’s address was economic resilience. The disruption of global supply chains in recent years, from the Covid-19 pandemic to geopolitical conflicts and trade tensions, has pushed countries to diversify sources of energy, technology, raw materials and manufactured goods.India, PM Modi said, has been working to make its supply chains more diversified and reliable.“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.He pointed to India’s efforts across sectors ranging from energy to technology, arguing that stronger and more diversified supply chains would help the economy withstand external shocks.“It is a result of this resilience that, even amidst global uncertainties, India today offers the assurance of growth and stability,” the PM said.The emphasis on resilience also reflects India’s broader push to reduce vulnerabilities in strategically important sectors. The government has increasingly sought to build domestic manufacturing capacity while simultaneously attracting global companies looking to diversify production beyond existing manufacturing hubs.
Infrastructure and strategic technologies
PM Modi highlighted infrastructure expansion as another pillar of India’s economic strategy.India is rapidly expanding its network of roads, railways, ports and airports, he said, arguing that better physical connectivity is essential for lowering logistics costs and improving the movement of goods and people.At the same time, the government is trying to build domestic capabilities in technologies and industries that could have long-term economic and strategic importance.“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.These sectors are increasingly important because they sit at the intersection of economic security and national security.Semiconductors, for example, are essential for everything from smartphones and automobiles to advanced weapons and artificial intelligence systems. Critical minerals are required for batteries, electronics and clean-energy technologies, while shipbuilding is important both for trade and maritime security.By expanding domestic capabilities in such areas, India is seeking to become not merely a large consumer market but a producer and supplier within global value chains.
UPI as India’s digital infrastructure model
PM Modi also highlighted India’s digital public infrastructure, particularly the Unified Payments Interface (UPI), as an example of how technology can expand economic participation.UPI has transformed the way payments are made in India by enabling fast digital transactions between bank accounts and mobile applications. PM Modi said the system has given fresh momentum to financial inclusion and digital payments on a massive scale.“Today, 50% of the world’s real-time payments take place using this technology,” he said.India has increasingly sought to promote its digital infrastructure model internationally, particularly among developing economies. The broader objective is to demonstrate how digital systems can bring more people and businesses into the formal economy while making transactions faster and cheaper.
Brics seeks greater business-to-business engagement
The Brics Business Forum is the grouping’s main private-sector platform, bringing together business leaders, government ministers and heads of state to discuss trade, investment, finance, technology and development.Its importance extends beyond discussions at individual meetings. Recommendations from the Brics Business Council and the Business Forum can feed into summit declarations and subsequent work programmes, giving the business community a role in shaping the bloc’s economic agenda.
Brics members and partner countries now account for over 40% of the global GDP.
The Leaders’ Session in New Delhi was attended by Brics leaders, the Chairs of the Brics Business Council and the Brics Women’s Business Alliance. Modi also joined the participating dignitaries for a group photograph.The forum is being held as India hosts the 18th Brics Summit under its 2026 chairship. India’s presidency is centred on the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, with development, sustainability and innovation among its principal priorities.
Why Brics matters to India
Brics has expanded considerably from its original five-member format and now comprises 11 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE.Collectively, the grouping represents around 49.5% of the world’s population, 40% of global GDP and 26% of global trade, according to background information on India’s 2026 chairship.For India, the economic significance of Brics therefore goes beyond the traditional diplomatic role of the grouping. Its large consumer markets, energy producers, manufacturing economies and emerging technology sectors create opportunities for greater trade and investment.
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PM Modi’s address sought to underline India’s position within that changing economic landscape: as a country attempting to keep markets open, diversify supply chains, build strategic industrial capacity and use its digital infrastructure to expand economic participation.His broader pitch was that as geopolitical tensions and protectionism reshape global commerce, India wants to position itself as a reliable economic partner, one that can connect businesses, markets, investment and technology across an increasingly fragmented world.