Prime Minister Narendra Modi has called on BRICS countries to deepen cooperation among their startup ecosystems and help 100 startups expand into other BRICS member markets every year.
Speaking at the BRICS Business Forum in New Delhi, Modi proposed a set of measurable targets for the BRICS Business Council aimed at improving trade, business partnerships and cross-border opportunities.
Three Targets for BRICS Business Council
Modi urged the Business Council to work towards three key goals: identifying and addressing the 10 biggest barriers to trade among BRICS countries, helping 100 startups every year enter other member markets and facilitating 1,000 new business partnerships annually.
He also called for progress on these targets to be reviewed every year.
India’s Startup Ecosystem in Focus
With BRICS now comprising 11 countries, the grouping represents a significant share of the global economy and population.
Modi highlighted India’s growing startup ecosystem, which has more than 2 lakh registered startups and over 120 unicorns. He said India could contribute more to BRICS by helping innovation and businesses reach markets across the grouping.
He also highlighted India’s experience with digital public infrastructure and the Unified Payments Interface (UPI) as examples that innovators from other member countries could learn from.
Push for Startup Cooperation
India has been advocating stronger startup collaboration during its BRICS chairship. In August, it proposed a BRICS Incubator Network and a BRICS Startup Innovation Fund to support innovation-driven businesses and strengthen connections between startup ecosystems.
Startups and emerging technologies have also featured prominently in the group’s economic discussions this year.
Focus on Trade and Digital Connectivity
Modi also stressed the importance of secure sea routes and uninterrupted supply chains for international commerce. He called for deeper economic ties among BRICS nations and greater opportunities for businesses.
Commerce and Industry Minister Piyush Goyal has similarly pushed for cooperation in areas such as startups, artificial intelligence, electronics and engineering, along with simpler regulations and improved market access.
Iran Backs Easier Cross-Border Trade
Addressing the forum, Iranian President Masoud Pezeshkian called for greater use of national currencies in trade among BRICS countries and stronger integration of trade infrastructure.
He also supported simpler trade processes, fewer regulatory hurdles and greater private-sector investment across borders.
Building a Stronger BRICS Business Network
The proposals seek to move BRICS economic cooperation beyond traditional trade towards startup expansion, technology, investment and business partnerships. Annual targets for startup expansion and new partnerships could provide a more measurable framework for strengthening commercial ties among member economies.