BRICS Business Forum Opens in New Delhi Ahead of Leaders’ Summit

NEW DELHI, India — The BRICS Business Forum opened in New Delhi on Friday, bringing together business leaders and representatives from member countries one day before India hosts the group’s annual leaders’ summit.

The forum is focusing on strengthening trade and investment ties among BRICS members, with the development of more connected and resilient trade networks emerging as a key priority.

Digital technology is also taking centre stage, with business representatives highlighting its potential to improve communication, expand access to commercial opportunities and strengthen economic cooperation across member states.

Technology Seen as Key to Stronger BRICS Trade

Mtho Xulu, president of the South African Chamber of Commerce and Industry, said digital platforms could help businesses and citizens across BRICS countries connect more effectively.

He noted that technology could provide businesses with greater access to opportunities across borders while also creating investment opportunities in digital infrastructure.

Xulu acknowledged that differences in digital access remain a challenge, but argued that closing the digital gap could itself generate new opportunities for investment and cooperation.

Leaders to Discuss Economic and Global Issues

BRICS leaders are expected to meet on Saturday for discussions covering economic cooperation, energy, food security, technology and global supply chains.

Reforms to international institutions are also expected to feature prominently, as BRICS members continue to push for greater representation of developing countries in global decision-making bodies.

Another major issue is reducing dependence on the US dollar in international trade and financial transactions.

BRICS members have increasingly promoted the use of their national currencies for cross-border payments while exploring alternative mechanisms that could reduce reliance on Western-dominated financial institutions.

Push for a More Multipolar Global Economy

China and Russia have positioned BRICS as an important platform for strengthening cooperation among emerging and developing economies and challenging what they view as an imbalance in the global economic and financial system.

The group has evolved significantly since its creation roughly two decades ago. It now has 11 full members, including South Africa and Egypt, alongside 10 partner countries.

With members spanning several continents, BRICS represents a substantial share of the world's population and global economic output.

The bloc has increasingly called for reforms to institutions such as the International Monetary Fund and World Bank, arguing that developing economies should have a greater voice in global economic governance.

Trade and Technology at the Centre

The discussions in New Delhi highlight BRICS' broader effort to deepen economic integration among its members while building alternative channels for trade, finance and investment.

For businesses, digital connectivity could become an increasingly important part of that strategy by making it easier to identify partners, access markets and facilitate cross-border transactions.

The leaders’ summit is expected to provide further direction on how BRICS intends to strengthen economic cooperation and increase its influence in an evolving global economic order.