Modi Stresses Resilient Supply Chains and Digital Payments at BRICS Forum

Prime Minister Narendra Modi used his address at the BRICS Business Forum to underline the importance of resilient supply chains for global stability. He noted that India, under its current BRICS chairmanship, has broadened and diversified supply networks spanning energy, technology and other vital sectors, thereby enhancing reliability amid worldwide uncertainties.

The Prime Minister pointed out that despite a 2.5‑fold rise in global GDP over the past two decades, the collective GDP of BRICS nations has expanded more than 4.5 times, reflecting a growth pace nearly double that of the rest of the world.

Modi highlighted India’s aggressive infrastructure push, citing ongoing projects that expand roads, railways, ports and airports. He also mentioned strategic investments in shipbuilding, semiconductor production, quantum technology, critical minerals and biotechnology, positioning India as a future‑ready economy.

A major focus of the speech was the digital economy. Modi praised the Unified Payments Interface (UPI) for revolutionising financial inclusion and enabling massive digital transaction volumes. He claimed that about 50% of all real‑time digital payments globally now flow through UPI, showcasing India’s leadership in fintech.

In a world where trade barriers are rising, Modi asserted that India is constructing economic bridges, having signed free‑trade agreements with roughly 40 nations since 2014. The country’s strategy centres on lowering obstacles and expanding market opportunities for businesses.

To foster entrepreneurship, Modi announced the launch of the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund. These platforms aim to connect startups and micro‑small‑medium enterprises with capital and markets across the BRICS community, encouraging deeper investment and talent exchange.