New Delhi : Preparations for the 18th BRICS Summit, scheduled to be held in the national capital, New Delhi, on September 12 and 13, are nearly complete. Against this backdrop, External Affairs Minister Dr. S. Jaishankar addressed the BRICS Business Forum on Friday, emphasizing India’s growing role in the global market.

In his address, Jaishankar noted that the global political and economic landscape is currently undergoing a phase of massive transformation. Instability, uncertainty, and complexity have emerged as the greatest challenges facing the world. We are clearly witnessing the economic repercussions of geopolitical conflicts, pandemics, and climate-related disasters.

The External Affairs Minister observed that while the world grapples with crises, rapid digitalization and technological advancements have simultaneously opened up new avenues for progress, productivity, and growth.

Jaishankar further emphasized that the current global economic situation involves a proliferation of both risks and opportunities; consequently, the ability to anticipate situations, adapt, and respond swiftly has become paramount.

He added that the primary objective should be to facilitate the discovery of new partners, expand market access, integrate supply networks, and streamline business partnerships for the business communities of BRICS nations. He stated that for BRICS countries, economic activity and economic security are synonymous with ‘self-reliance’ (Atmanirbharta).

Jaishankar stated that the goal is to strengthen our resilience against shocks so that we remain globally connected and competitive. Achieving this requires addressing certain essential factors.

• Fair trade practices
• Reliable logistics and transportation systems
• A predictable and stable business environment
• Business diversification and transparent trade and investment
• Energy systems capable of withstanding disruptions and tailored to each country’s specific needs.

During this time, Jaishankar highlighted India’s growing strength and capabilities to the world. He noted that India is currently a vast and rapidly expanding market where manufacturing capacities are growing fast. We possess a massive talent pool, digital expertise, and a vibrant, dynamic ecosystem for innovation and entrepreneurship.

Addressing the business community, the External Affairs Minister stated that as the country’s top leaders gather for the BRICS summit, the forum’s most significant and valuable contribution would be to articulate a clear and practical business vision for the next phase of BRICS. India is fully prepared to strengthen the global economy and facilitate ease of doing business.

Report – Abhijit Tushar Bhatt (Political Editor)