New Delhi: India’s BRICS presidency is creating fresh momentum for trade, investment and economic cooperation among member and partner countries, with business and institutional representatives from Russia, Egypt and other BRICS Plus nations expressing confidence in the opportunities emerging from the platform, industry leaders said on Friday.
Speaking to IANS on the sidelines of the BRICS summit here, representatives from different sectors said the meetings had provided a valuable platform for businesses to explore partnerships in areas ranging from infrastructure and energy to technology, skills development and agriculture.
Alexander Kokov, Founder and CEO of Russian company GSBI Ltd, described the event as highly energetic and positive, saying participants were keen to work together and explore new opportunities.
He highlighted the business-to-business meetings organised during the summit, saying they had enabled entrepreneurs from different countries to engage directly and identify areas for cooperation. Kokov also praised the role of industry body FICCI in facilitating business engagement and said being in India offered participants an opportunity to better understand the country’s economic strength and growing market potential.
Kokov said there was significant scope for expanding trade, investment and economic ties between India and Russia, adding that the two countries were entering a phase that could lay the foundation for a stronger economic partnership in the years ahead.
He said his organisation works in the Global South Business Innovations and MICE (Meetings, Incentives, Conferences and Exhibitions) sector, which could serve as an important bridge for connecting the economic potential of BRICS countries. According to him, business conferences, exhibitions and other platforms for direct engagement could help turn discussions among member countries into concrete commercial projects.
Alina Singh, Deputy Director of Russia’s Skills Development Agency, said BRICS brought together economies and societies with diverse cultures, experiences and perspectives.
“Member countries can share their experiences and expertise, learn from each other and promote collective development. That is the greatest strength of BRICS,” she said.
Maxim Andrianov, International Marketing Manager at Russian Helicopters Group, also welcomed India’s leadership of the grouping and praised the organisation of the summit.
He said the BRICS engagement this year had been highly productive, with participants establishing new business contacts and initiating discussions on several important projects.
Andrianov also pointed to the work of the BRICS Business Council, saying it had played an effective role in facilitating commercial engagement and strengthening business-to-business cooperation among participating countries.
On the ‘Make in India’ initiative, Andrianov said projects where local manufacturing requirements apply would operate within that framework. At the same time, he noted that companies in the commercial sector generally assess factors such as cost, efficiency and competitiveness while making business decisions, with affordability for consumers also remaining an important consideration.
Paroma Munshi Rebello, Head of Business Development at Pristine Logistics & Infraprojects Ltd, said her working group was focused on infrastructure, an area closely linked to investment.
Islam Salem, a representative of Egypt-based Iskra Maiden for Investment and Agricultural Development, said the potential for cooperation among BRICS economies was expanding and that the private sector would have a crucial role in converting those opportunities into actual partnerships.
“Discussions over the past two days on agriculture, technology, finance and several other sectors have clearly shown that there are significant opportunities for partnerships among member countries,” Salem said.
(IANS)
