India on Friday urged Brics nations to create a predictable business environment, build resilient supply chains and link their payment systems to allow trade in local currencies, as Russia proposed a Brics grain exchange to strengthen food security across the bloc.
Earlier reporting noted: Addressing the Opening Session of BRICS Business Forum 2026 here, he said India has taken significant initiatives in laying out a digital public infrastructure. “We meet at a time when [the] global political and economic order is under churn. Volatility, uncertainty, and complexity have become defining features of the world around us. Energy systems capable of coping with disruption, and transition pathways suited to different national circumstances, were also needed, he added, citing digital public infrastructure (DPI), artificial intelligence, fintech and advanced manufacturing as areas of major opportunity. He proposed a Brics grain exchange, arguing that member countries were among the world’s leading producers and consumers of grain but still relied on price benchmarks set in other markets. The summit is taking place against growing global economic uncertainties triggered by the Russia-Ukraine war, US-Iran conflict leading to the blockade of the Strait of Hormuz, and the Trump administration’s tariff policies.
Delivering the keynote address at the Brics Business Forum, external affairs minister S Jaishankar said India’s chairship was focused on resilience, innovation, cooperation and sustainability. We are witnessing the economic consequences of geopolitical conflicts, of pandemics, and of climate-related disruptions,” he said. Jaishankar called for “greater self-reliance” within Brics to strengthen economic security. “The objective is to strengthen our ability to absorb shocks while remaining connected and competitive,” he said, listing genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships and transparent trade and investment as priorities.
Earlier reporting noted: The business forum was held on the sidelines of the two-day BRICS summit, being hosted by India from Saturday. Earlier reporting noted: He added that BRICS countries are among the world’s leading producers and consumers, but they still rely on price benchmarks that reflect the interests of entirely different markets.
