New Delhi, September 11 (Daily Kiran) : Prime Minister Narendra Modi addressed leaders at the BRICS Business Forum in New Delhi on September 11, emphasizing the significant role of India’s digital economy and the Unified Payments Interface (UPI) in global financial transactions. He noted that UPI now accounts for 50 percent of real-time digital payments worldwide, driving financial inclusion and facilitating large-scale digital transactions.
During his speech, Modi highlighted that the theme of India’s BRICS presidency is “Building Resilience, Innovation, Cooperation, and Stability.” He stated that this philosophy has guided India’s economic and trade policies over the past twelve years. The Prime Minister pointed out that India is emerging as a global hub for innovation and technological solutions.
Modi praised UPI for connecting millions of people to formal financial systems, making digital payments easier, faster, and more secure for small traders, startups, and micro, small, and medium enterprises (MSMEs). He stressed that UPI represents not just India’s success but also serves as a model for reliable digital public infrastructure worldwide.
He also discussed India’s rapid expansion of infrastructure, including roads, railways, ports, and airports. Modi mentioned the development of capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals, and biotechnology, which he believes will position India as a trustworthy partner in global development and stability.
In a time marked by increasing trade barriers in various regions, Modi asserted that India is working to build economic bridges. Since 2014, India has signed free trade agreements (FTAs) with nearly 40 countries, focusing on reducing trade obstacles and expanding business opportunities.
Moreover, he announced the establishment of new collaborative networks in agriculture, health, skill development, and smart grids during India’s BRICS presidency. Initiatives like the BRICS Incubator Network, the BRICS MSME Portal, and the BRICS Startup Innovation Fund aim to connect startups and MSMEs with markets and financial resources.
Modi urged industry representatives to leverage these collaborative platforms to strengthen investment, technology, and talent exchanges among BRICS nations.
Leave a Comment