BRICS Business Forum Highlights India's Efforts Amid Global Uncertainty

In a session attended by senior leaders of the BRICS Business Forum, the President of Iran praised the Indian government's and Prime Minister Modi’s commitment to strengthening the bloc’s cooperation. He underscored that the world is traversing its most intricate period, making it imperative for BRICS to convert potential cooperation into actionable economic projects.

The president pointed out that the active participation of the private sector, industrial community, and entrepreneurs is crucial for converting collaborative ideas into measurable economic gains. He urged member nations to broaden the usage of their own currencies in bilateral trade, while establishing robust financial mechanisms for currency‑risk control and reciprocal payment arrangements.

Raising concerns about the existing global financial system’s reliance on a limited set of currencies, he warned of heightened sensitivity to political shocks. Consequently, he recommended that the New Development Bank serve as the chief financing engine for infrastructure and energy initiatives across BRICS nations, providing credit lines denominated in local currencies and guarantee schemes to mobilise private capital.

Concluding his address, the Iranian President called for BRICS to evolve into a stronger, more sustainable forum that translates economic partnership into real‑world investment and development outcomes.