New Delhi, September 11 (Daily Kiran) : In a push for enhanced economic integration among BRICS nations, Commerce and Industry Minister Piyush Goyal emphasized the need for member countries to further open their markets. Speaking at the inaugural session of the BRICS Business Forum in New Delhi, Goyal highlighted the importance of simplifying regulatory processes and expediting trade approvals.
He urged BRICS members to unlock their service markets, stating, “Let’s truly open our service markets to each other.” Goyal also proposed that joint innovation should become a new standard, advocating for mutual access to each other’s products.
The minister called for increased collaboration among agricultural technology (agri-tech) startups within BRICS to develop solutions for farmers and bolster food security.
State Minister for Commerce and Industry Jitin Prasada stressed the necessity of translating the economic strength of BRICS nations into tangible business outcomes. He outlined priorities that include promoting technology and innovation, creating job opportunities for youth, ensuring balanced trade among member countries, and elevating partnerships in the service sector to new heights.
New Delhi is hosting the 18th BRICS Summit on September 12-13, 2026, under India’s presidency. The theme for this presidency is “Building Resilience, Innovation, Cooperation, and Sustainability,” reflecting India’s focus on enhancing current achievements and institutional effectiveness. This theme places development, sustainability, and innovation at the forefront of the agenda while also highlighting the aspirations of the Global South.
Currently, BRICS has expanded to include 11 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates. Collectively, these nations represent 49.5% of the world’s population, 40% of global GDP, and 26% of global trade.
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