New Delhi. Union Minister Piyush Goyal said that the objective of BRICS is to create opportunities for employment, wealth and prosperity for the people of the member countries. BRICS member countries represent nearly half the world's population and 40 percent of global GDP.
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He said BRICS countries also account for about one-fourth of global trade and India is an important pillar of intra-BRICS trade. Piyush Goyal said engineering products and electronics are among the largest sectors of India's manufactured exports. India is also known as the pharmacy of the world. India sees BRICS as an important market for these and other products, which it wants to bring to the world as a trusted partner.
BRICS countries will have to make market access easier and accessible
He said that India believes that trade between partner countries should be deeper and stronger. Supply chains must be diverse and flexible. It should also be ensured that trade, development and well-being of the people of the member countries are not hindered at any time. Piyush Goyal said that BRICS countries should open their markets to each other. It also includes raw materials and important minerals. A supply chain will only be truly strong when it works in both directions. He said that non-tariff measures sometimes increase the cost of exports so much that their impact is greater than that of tariffs. Therefore, BRICS countries will have to make market access easier and accessible.
Appealed to BRICS member countries and partner countries to open their markets.
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Piyush Goyal appealed to BRICS member countries and partner countries to open their markets. He said that all countries should work together to simplify regulatory processes and ensure faster clearance of consignments. He also stressed on increasing cooperation in the agricultural sector. Said that Agritech startups should be encouraged to work together to develop solutions for farmers of BRICS countries. This is necessary in the interest of ensuring food security for the people.
BRICS countries should also open the service sector market to each other.
Piyush Goyal said that BRICS countries should also open the services sector market to each other. In a real sense, there should be easier movement of professionals across borders and recognition of each other's professional qualifications should also be made easier. He said that he is extremely proud to say that more than 45 percent of India's more than 2.5 lakh recognized startups have at least one woman partner or director.
Piyush Goyal said that about two-thirds of the small loans given in the last decade have been given to women entrepreneurs. This has helped women to stand on their own feet, become independent and self-reliant. She told that earlier this week a meeting of BRICS Women Business Alliance was held in New Delhi. She appealed to women-led enterprises to participate in every BRICS exhibition, trade fair and other opportunities. All countries should encourage and support such efforts.
UPI has recorded more than 250 billion transactions, is being accepted in 11 countries
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Piyush Goyal said that India has taken important initiatives in the field of digital public infrastructure. He said that India's Unified Payments Interface or UPI has recorded more than 250 billion transactions and represents more than half of the number of digital transactions worldwide. He said that today UPI is being accepted in 11 countries. He appealed to BRICS member countries and partner countries to link their payment systems, so that trade in each other's local currencies can be promoted.
Piyush Goyal said that we should make digital trade global and work together for the future. In the field of emerging technologies, India has strong capabilities in many sectors including agriculture, pharmaceuticals, engineering, electronics, automobiles, auto components and services sector. He said that BRICS countries should also connect their startup ecosystems. These sectors offer significant opportunities for joint innovation, technology partnerships and stronger global value chains.
India is moving towards the goal of becoming a developed India by the year 2047.
Piyush Goyal said that India is moving towards the goal of becoming a developed India by the year 2047. 140 crore Indians have set themselves the goal of making India a developed nation by the completion of 100 years of independence. He said that India sees immense potential to further deepen cooperation with BRICS member countries and partner countries.