Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»India Champions Barrier-Free Trade and Local Currency Use at BRICS Summit in Brazil
    Cryptocurrency

    India Champions Barrier-Free Trade and Local Currency Use at BRICS Summit in Brazil

    July 4, 20253 Mins Read


    Brazil BRICS

    The summit in Rio de Janeiro is expected to address broader themes including global governance reform, climate action, artificial intelligence, and trade cooperation. (AP Photo/Eraldo Peres)

    As the 17th BRICS Summit kicks off in Brazil, India is advocating for a freer, more integrated trade system within the bloc and promoting the use of local currencies to reduce dependency on external systems such as the US dollar. Prime Minister Narendra Modi’s visit underlines India’s ambition to steer BRICS toward a digitally empowered, economically resilient future.

    Speaking on the sidelines of the summit, Onkar Kanwar, Chairman of the BRICS Business Council, highlighted the urgency of removing trade barriers and enhancing intra-BRICS business exchanges. “We are trying to remove all the trade barriers. We can exchange businesses within our own countries—let’s say from Russia to India—and use local currencies… that will go a long way,” Kanwar told ANI.

    India’s flagship Digital India programme also took centre stage, with Kanwar praising it as a model for emerging economies. “Even the smallest shopkeeper uses digital platforms. We should share this capability with other countries,” he said, emphasising that BRICS should adopt India’s approach to tech-led development.

    The BRICS Business Council has been actively deliberating on youth employment, digital innovation, and industrial cooperation in the run-up to the summit. Kanwar also credited Modi’s policies for building a robust startup ecosystem, which has opened new avenues for India’s youth and positioned the country as a tech and innovation leader among developing economies.

    The summit in Rio de Janeiro is expected to address broader themes including global governance reform, climate action, artificial intelligence, and trade cooperation. PM Modi is also scheduled to hold a bilateral meeting with Brazilian President Luiz Inácio Lula da Silva in Brasilia, with discussions likely covering defence, technology, energy, agriculture, and cultural ties.

    Indian business leaders accompanying the delegation voiced optimism. Sameep Shastri of the BRICS Chamber of Commerce and Industry said India’s upcoming BRICS presidency in 2026 is being anticipated with enthusiasm, especially after India’s widely-praised leadership of the G20.

    VP Nandakumar, MD of Manappuram Finance, noted, “This is an opportunity to understand each other. The Prime Minister’s presence lends a lot of confidence.”

    Other business voices echoed the summit’s potential for bilateral gains. Archana Jahagirdar, a startup advocate, described BRICS as a global launchpad for entrepreneurship, while Hemil Kiri of Indoasia Copper Ltd praised India’s improved investor outlook under Modi’s leadership.

    Navneet Ravikar of Leads Connect Services pointed to Brazil’s agritech and livestock expertise, saying India could benefit from technological partnerships in agriculture. Bijoy Devadas of the ERAM Group highlighted opportunities in renewable energy, R&D, and power electronics, areas where India and Brazil can collaborate.

    With BRICS now expanded to 10 nations, including Egypt, Ethiopia, Iran, and the UAE, the 2025 summit signals a pivotal moment. India’s voice is gaining traction in shaping a multipolar economic order that champions equity, innovation, and regional cooperation.

    India’s emphasis on digital inclusion, economic fairness, and regional connectivity aligns with its broader geopolitical vision—one that aims to reform global institutions and empower the Global South through technology-sharing, local financing, and sustainable development.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Pakistan Fast-Tracks Cryptocurrency Adoption: Rediff Moneynews

    Cryptocurrency

    Less Than Half The Country Approves Of President’s Handling Of Economy, Cryptocurrency

    Cryptocurrency

    A look at Bitcoin and the rise of cryptocurrency

    Cryptocurrency

    Cryptocurrency Live News & Updates : Tornado Cash Co-Founder’s Court T-Shirt Sparks Debate

    Cryptocurrency

    Cryptocurrency Live News & Updates : LINEA Tokenomics: 85% for Ecosystem, 15% for Treasury

    Cryptocurrency

    The Digital Euro: Transforming Europe’s Trade and Financial Landscape

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Winklevoss Twins Criticize Kamala Harris, Shiba Inu’s Stagnating Burn Rate, And More: This Week In Crypto

    Investments

    China’s Ping An raises $3.5 billion in convertible bond deal | The Mighty 790 KFGO

    Stock Market

    Top Wall Street analysts are bullish on these dividend stocks – NBC Chicago

    Editors Picks

    Late actor Puneeth Rajkumar’s debut film Appu to re-release in honour of his 50th birth anniversary

    February 24, 2025

    The precious metal is up more than 30% amid market uncertainty this year

    April 22, 2025

    Stocks in news: RIL, IndiGo, PB Fintech, Tata Steel, Paytm, Wipro, Nalco & Vedanta

    August 29, 2024

    Montage renforce sa présence dans l’or en Côte d’Ivoire en investissant dans African Gold

    March 25, 2025
    What's Hot

    UK house prices fall at fastest pace in four years after stamp duty rise

    June 18, 2025

    Justin Bieber hit with $380K bill for unpaid property taxes

    October 31, 2024

    Agricultural Exports 101 | Market Intel

    February 12, 2025
    Our Picks

    Le Real Madrid veut mettre sept joueurs à la porte cet été et il y a de grands noms

    May 5, 2025

    Un système de recharge électrique économique et écologique, c’est possible ?

    February 18, 2025

    UK house prices dip in February with end to stamp duty holiday, Halifax says

    March 6, 2025
    Weekly Top

    ‘Twisted Metal’ Has a 3-Episode Season 2 Debut With a Fast-Approaching Streaming Date

    July 29, 2025

    Copper edges up on trade truce hopes; tariff clarity expected on August 1 – Markets

    July 29, 2025

    Pakistan Fast-Tracks Cryptocurrency Adoption: Rediff Moneynews

    July 29, 2025
    Editor's Pick

    Abrdn Property Income Trust révise à la baisse la valeur de ses terres en Écosse

    July 15, 2025

    46 000 Cybertruck rappelés par Tesla car un bout de la carrosserie s’envole

    March 29, 2025

    Bitcoin’s journey towards $100,000 | Entrepreneur

    August 9, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.