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India is fully committed to developing cooperation within BRICS — PM

Narendra Modi emphasized that among all the initiatives, the association should also focus on the interests of small and medium enterprises

KAZAN, October 23. /TASS/. India is fully committed to expanding cooperation within the BRICS framework, which thrives on diversity and multipolarity, Prime Minister Narendra Modi stated at the BRICS Summit in an expanded format.

"India is fully committed to expanding cooperation within the BRICS framework. Our belief in diversity and multipolarity is our strength. This strength, along with our shared belief in humanity, will help shape a prosperous and robust future for our generations to come," the prime minister said.

He pointed out that BRICS is now a $30 trillion-plus economy. "The BRICS Business Council and the BRICS Women's Business Alliance have played a significant role in enhancing our economic cooperation. The consensus reached at BRICS this year on World Trade Organization (WTO) reforms, trade facilitation in agriculture, supply chain sustainability, e-commerce, and special economic zones will further strengthen our economic ties," Modi added.

The Indian prime minister emphasized that among all these initiatives, the association should also focus on the interests of small and medium enterprises. "I am pleased that the BRICS Startup Forum, proposed during India's presidency in 2021, will be launched this year," Modi said.

According to him, India welcomes efforts to strengthen financial integration among BRICS countries and suggested that participants consider India's experience. "Trade in local currencies and streamlined cross-border payments will enhance our economic cooperation. The Unified Payment Interface (UPI) developed by India has been a significant success, adopted by many countries. Last year, we also introduced it in the UAE. Cooperation in this area can also be expanded with other nations," Modi added.

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