English Translation of Prime Minister’s Address at the BRICS Business Forum 2026
Prime Minister addressed the BRICS Business Forum 2026, highlighting that BRICS now represents 21 countries, 50% of the world's population, 40% of global GDP, and over 25% of global trade. He emphasized India's theme of 'Building for Resilience, Innovation, Cooperation and Sustainability' during its BRICS Presidency. The Prime Minister also noted India's massive growth in start-ups, the impact of UPI on global real-time payments, and various new BRICS cooperation frameworks launched under India's leadership.
Why It Matters
This is relevant for competitive exams covering international summits, economic groupings like BRICS, and India's economic policies and digital initiatives such as UPI.
In Simple Words
The Prime Minister welcomed leaders to the BRICS Business Forum, noting that the group is celebrating twenty years since its launch in 2006. The collective GDP of BRICS has grown by 4.5 times, outpacing the global economy, and the group now includes twenty-one countries representing significant portions of the world's population, GDP, and trade.
Highlighting India's BRICS Presidency theme of resilience, innovation, cooperation, and sustainability, the Prime Minister detailed India's advancements in start-ups, digital infrastructure like UPI which powers 50% of the world's real-time payments, and new cooperation frameworks such as the BRICS Incubator Network and Startup Innovation Fund to boost trade and business partnerships.
Key Points
- BRICS is celebrating twenty years in 2026, having started with four countries in 2006 and now comprising twenty-one countries including partners.
- BRICS countries represent 50% of the world's population, 40% of global GDP, and over 25% of global trade.
- The combined GDP of BRICS countries has grown by around 4.5 times while global GDP has grown by around 2.5 times.
- The theme of India’s BRICS Presidency is 'Building for Resilience, Innovation, Cooperation and Sustainability.'
- India has more than 200,000 start-ups and over 120 unicorns.
- India's Unified Payments Interface (UPI) powers 50% of the world's real-time payments.
- India has entered into Free Trade Agreements with nearly 40 countries since 2014.
- Under India's Presidency, new cooperation networks and initiatives launched include the BRICS Incubator Network, BRICS MSME Portal, and BRICS Startup Innovation Fund.
Exam Angle
A. Building for Resilience, Innovation, Cooperation and Sustainability.
Source: Press Information Bureau