External Affairs Minister S Jaishankar on Friday called for BRICS economies to strengthen their economic resilience and self-reliance while continuing to engage with global markets, saying the bloc must find a balance between security and competitiveness. Addressing the BRICS Business Forum in New Delhi, Jaishankar said India's chairship has placed innovation and entrepreneurship among its key priorities. He also described BRICS completing two decades as a "milestone".
The business forum is being held alongside the 18th BRICS Summit and has brought together business representatives and government officials from member countries. Union Minister Piyush Goyal and Commerce Secretary Rajesh Agrawal also addressed the gathering.
Jaishankar said closer economic cooperation between BRICS countries could help businesses expand their reach while making supply networks more resilient. He outlined the objective as helping businesses "find more partners, access more markets, connect supply networks and convert complementarities into viable commercial partnerships."
For the grouping, Jaishankar said, "higher economic activity and higher economic security mean greater self-reliance." He added that the focus should be on developing the capacity "to absorb shocks while remaining connected and competitive."
#WATCH | BRICS Summit 2026 | At BRICS Business Forum, External Affairs Minister Dr S Jaishankar says, "India brings a large and growing market, expanding manufacturing capabilities, deeper pools of talent, digital experience and a dynamic innovation and entrepreneurial base. As… pic.twitter.com/VVFnINyVWK
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He said achieving that objective would require "genuine market practices, dependable logistics, a predictable business environment, diversified commercial relationships, and transparent trade and investment."
The minister also underlined the importance of energy infrastructure that can withstand disruptions, while saying countries should pursue transition strategies suited to their individual circumstances.
Jaishankar also used the forum to outline India's economic advantages as BRICS seeks to deepen business cooperation.
He pointed to India's "large and growing market, expanding manufacturing capabilities, deeper pools of talent, digital experience and a dynamic innovation and entrepreneurial base."
With the grouping entering its third decade, he said the business forum should play a meaningful role in shaping its economic direction. Jaishankar said its key contribution would be to "bring a clear business perspective to the next phase of BRICS."
The focus on business participation comes as BRICS seeks to expand economic engagement among its members and create more opportunities for companies to access markets, partners and supply networks.
Jaishankar also turned his attention to the changing international environment, describing a world facing multiple overlapping disruptions.
He said "volatility, uncertainty, and complexity have become defining features of the world around us." The minister cited the economic consequences "geopolitical conflicts, of pandemics, and of climate-related disruptions," while also pointing to the opportunities created by rapid technological change.
According to Jaishankar, digitisation is creating "new possibilities for growth, productivity and development." However, the spread of both risks and opportunities across economies means countries and businesses need to become more capable of responding to sudden changes.
He said the changing environment has made the "ability to anticipate, adapt and respond" increasingly important.
Jaishankar's remarks placed businesses at the centre of efforts to strengthen economic cooperation within BRICS.
The emphasis on diversified commercial relationships, resilient supply networks, transparent trade and investment, and stronger innovation ecosystems reflects India's push to make economic engagement a key part of its BRICS chairship.
As leaders and business representatives gather in New Delhi for the 18th summit, the forum is providing a platform for discussions on how member economies can expand trade and investment while preparing for an increasingly unpredictable global economic environment.
