New Delhi, September 11 (Daily Kiran) : During the BRICS summit and business forum held in New Delhi, industry leaders and global experts underscored India’s rising economic power and its crucial role in international cooperation. Representatives from various sectors emphasized that India’s robust growth rate, entrepreneurial spirit, digital infrastructure, and investment-friendly policies are creating new opportunities within the BRICS nations.
Jyoti Vija, Director General of FICCI, noted that BRICS has evolved into a significant coalition, now comprising 11 member countries and 10 partner nations. She highlighted the group’s pivotal role in global production, trade, energy, food security, and fertilizer supply chains.
Vija further stated that collaboration among BRICS countries could enhance job creation, innovation, and new business opportunities. The discussions at the BRICS Business Forum clearly indicated a shared desire among all nations to pursue collective development and progress.
Neeraj Bhatnagar, Founder and Chairman of Corporate Profiles India, emphasized that India’s strength lies not only in its 7.8% economic growth rate but also in the entrepreneurial mindset of its people. He pointed out that a significant number of Indians aspire to start their own businesses.
Bhatnagar remarked, “India’s potential in innovation and entrepreneurship can inspire not just BRICS nations but also others around the globe.”
Upasana Arora, Managing Director of Yashoda Group of Hospitals, acknowledged that despite global challenges, India’s economy continues to advance steadily, thanks to effective government policies. She believes that free trade agreements and global economic partnerships will elevate India to new heights.
Arora added that the presence of major economies at the BRICS platform presents a significant opportunity for India. She expressed optimism that India is on a fast track to achieving long-cherished aspirations for global leadership.
Meanwhile, Harsh Pati Singhania, Chairman and Managing Director of JK Paper Limited, indicated a growing likelihood of trade among BRICS nations in local currencies, clarifying that this should not be viewed as de-dollarization.
He explained that India has already taken steps towards trading in local currencies with countries like the UAE and Russia. While the dollar will maintain its crucial role in the global economy, the use of local currencies in bilateral trade may increase.
Rajat Agarwal, CEO of Barista Coffee, noted the government’s aim to engage the business community more actively in the development process. He emphasized the government’s role in strengthening global supply chains, creating jobs, and enhancing business relations among nations.
Agarwal highlighted that India has developed a robust and integrated digital payment system over the past five to six years, ensuring widespread access to digital payments even at the grassroots level. He suggested that expanding the UPI and Indian digital payment model globally would further enhance India’s financial diplomacy and economic influence.
Additionally, Olivier Frézo, Director of International Geosciences at France’s BRGM, praised India’s National Critical Mineral Mission, emphasizing the growing importance of critical minerals for energy transition and industrial development.
Frézo stated that minerals like rare earth elements, tungsten, and copper will be vital for the global economy in the coming years, particularly copper’s central role in renewable energy and energy transition processes.
He further noted that cooperation between India and France is increasing in technology, resources, geological data, and mineral processing. Partnerships are underway between BRGM and the Geological Survey of India (GSI) in areas like exploration, data science, and mineral processing.
Frézo remarked that India’s strategy to enhance collaboration with various countries is visionary, as it reduces dependence on any single nation and secures mineral supply chains. He added that both India and Europe are democratic systems working towards long-term and reliable development.
He also mentioned that recycling alone will not meet future demand for critical minerals, necessitating the exploration of new sources and the development of sustainable production systems.
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