India can script new chapter of global economic growth with BRICS nations: Industry leaders

New Delhi: India has the potential to work with BRICS nations to shape a new chapter of global economic growth, with industry leaders and global experts highlighting the country's strong economic expansion, entrepreneurial strength, innovation capabilities and growing role in international cooperation.

Speaking on the sidelines of the BRICS Summit and BRICS Business Forum on Friday, business leaders said India's robust growth, expanding digital public infrastructure and investment-oriented policies were creating fresh opportunities for trade, investment and collaboration across BRICS economies.

FICCI Director General Jyoti Vij told IANS that BRICS has evolved into a large and influential grouping comprising 11 member countries and 10 partner countries, giving it a significant role in global production, trade, energy, food security and fertiliser supply chains.

Neeraj Bhatnagar, Founder and Chairman of The Corporate Profiles India, said India's strength goes beyond its economic growth rate of 7.8 per cent and lies significantly in the country's entrepreneurial culture.

"India has the kind of potential in innovation and entrepreneurship that can serve as an inspiration not only for BRICS countries but also for the rest of the world," Bhatnagar told IANS.

Upasana Arora, Managing Director of Yashoda Group of Hospitals, said India's economy has continued to maintain strong momentum despite global challenges, attributing the resilience partly to effective government policies.

Harsh Pati Singhania, Chairman and Managing Director of JK Paper Ltd and Chairman of the International Chamber of Commerce, said trade among BRICS countries in local currencies is likely to increase, although this should not necessarily be interpreted as a move towards de-dollarisation.

Rajat Agrawal, CEO of Barista Coffee, said the government's objective is to bring the business community more actively into the country's development process. Government initiatives aimed at strengthening global supply chains, creating jobs and deepening commercial ties between countries can play an important role in this effort, he said.

Meanwhile, Olivier Frerot, Director of International Geoscientific Territories at France's Geological Survey BRGM, praised India's National Critical Mineral Mission and stressed the growing importance of critical minerals for the energy transition and industrial development.

Frerot said cooperation between India and France is expanding in areas including technology, resources, geological data and mineral processing. BRGM and the Geological Survey of India are already working together in areas such as exploration, data science and mineral processing, he said.

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