PM Modi’s government pushes inclusive digital trade at BRICS Business Forum

Speaking at the inauguration of the BRICS Business Forum 2026, Commerce Minister Piyush Goyal reiterated Prime Minister Narendra Modi’s commitment to ensuring that the benefits of deeper economic cooperation reach every segment of society. He said the Indian presidency will steer BRICS collaboration toward more balanced trade, expanded services, and greater opportunities for small and medium enterprises, farmers and women entrepreneurs.

Goyal highlighted India’s achievements in financial inclusion, pointing to UPI’s handling of over 250 billion transactions per year – a figure that accounts for more than 50 percent of global digital payments. He argued that replicating this model across BRICS could make cross‑border commerce faster, cheaper and more secure.

The minister cited the dramatic rise in BRICS’ share of world exports, from roughly 12 percent in 2003 to 24 percent in 2024, as evidence of the bloc’s growing relevance. He noted that engineering goods, electronics and pharmaceuticals – especially India’s “pharmacy of the world” reputation – dominate the group’s manufactured exports.

Key topics at the forum included non‑tariff barriers, global value chains, agricultural technology, service trade, women‑led businesses and the digital economy. The BRICS Business Council’s annual report delivered 44 recommendations, and the BRICS Women’s Business Alliance presented a detailed roadmap to amplify the role of female‑owned enterprises.