India’s role as host of the 18th BRICS Summit is highlighting the country’s growing economic weight and emerging strategic capabilities on the global stage, industry leaders said as the BRICS Business Forum got underway in New Delhi.

The business community’s assessment comes at a time when India is seeking to use its 2026 BRICS chairship to push practical cooperation in trade, technology, innovation, supply chains and financial connectivity.

The expanded BRICS grouping now represents a significant share of the global population and economy, giving India’s leadership of the bloc added diplomatic and economic significance.

India’s Economic Profile Comes Into Focus

Industry representatives said the BRICS platform provides an opportunity to showcase India’s expanding economic capabilities and its growing importance as a market, manufacturing base and technology hub.

India has increasingly positioned itself as an economy capable of attracting investment while developing domestic capabilities in areas ranging from digital infrastructure and advanced manufacturing to pharmaceuticals, space and defence production.

For Indian businesses, the BRICS platform also creates an opportunity to build commercial relationships with other emerging economies.

Strategic Capabilities Add a New Dimension

The discussion is no longer limited to India's economic growth.

Industry leaders also pointed to the country's emerging strategic capabilities, including developments in technology, manufacturing and critical infrastructure.

India's emphasis on self-reliance has increasingly focused on building domestic capacity while remaining connected to international markets. At the BRICS Business Forum, External Affairs Minister S. Jaishankar similarly stressed resilient supply chains, predictable business conditions and diversified trade relationships.

The combination of economic scale and strategic capability is strengthening India's ability to participate in global decision-making.

BRICS Offers a Larger Market for Indian Businesses

For industry, one of the biggest opportunities from BRICS is access to a broader network of emerging markets.

The grouping's expansion has brought together economies with different strengths in energy, manufacturing, agriculture, technology, services and natural resources.

Greater connectivity between these markets could create opportunities for Indian exporters and companies seeking overseas partnerships.

However, industry leaders also recognise that the size of the grouping alone does not guarantee greater trade. Regulatory differences, logistics costs, payment mechanisms and market-access barriers remain challenges.

Technology and Innovation Gain Importance

Technology is another area where India is seeking a larger role.

Digital public infrastructure, artificial intelligence, startups and innovation are emerging as important areas of BRICS cooperation. India has highlighted its experience in digital payments and technology-enabled public services as potential areas for knowledge-sharing with other developing economies.

The wider BRICS agenda is also examining ways to strengthen startup cooperation and innovation networks.

For Indian industry, this could open opportunities for technology partnerships, investment and access to new markets.

Supply Chains and Financial Connectivity

Resilient supply chains have become increasingly important as geopolitical tensions and disruptions expose vulnerabilities in global trade.

India has advocated greater cooperation among BRICS economies to diversify supply networks and improve their ability to withstand external shocks.

Financial connectivity is another major component of the discussion. India has pushed for stronger links between payment systems and greater use of local currencies in trade, although practical implementation across countries with different financial systems remains complex.

India’s BRICS Presidency Faces a Delivery Test

The economic optimism surrounding the forum also comes with a challenge: turning India's growing influence into measurable outcomes.

BRICS has expanded considerably, but its members have different economic structures and geopolitical priorities. Analysts have noted that internal divisions could make it difficult for the bloc to act as a fully integrated economic grouping.

That makes practical initiatives on trade, technology, payments and investment particularly important.

A Bigger Global Role for India

The BRICS presidency gives India a high-profile platform to demonstrate its economic and diplomatic capabilities.

Industry leaders' assessment reflects the broader perception that India's role in the global economy is expanding beyond being a large consumer market. Its influence increasingly rests on its manufacturing ambitions, digital capabilities, strategic industries and ability to engage simultaneously with different international groupings.

The real measure of the BRICS forum, however, will be whether these advantages translate into stronger trade, investment, technology partnerships and concrete cooperation.

For India, the New Delhi summit is therefore not only a diplomatic event but also an opportunity to demonstrate that its growing global stature can produce practical economic outcomes.

Russia expects a significant increase in trade with India as the two countries look to deepen commercial ties and use the BRICS platform to expand economic cooperation, Olga Kulikova, Business Ambassador of Russia to India, said on Friday.

Speaking on the sidelines of the BRICS Business Forum in New Delhi, Kulikova pointed to the potential for stronger business engagement between the two countries. Her comments come as India hosts the 18th BRICS Summit, with trade, investment, supply-chain resilience and financial cooperation among the key economic themes under discussion.

Trade Growth Gains Importance

The expectation of higher trade comes amid efforts by India and Russia to broaden their economic relationship beyond traditional areas of cooperation.

Energy has remained a major component of bilateral commerce, while businesses on both sides have also been exploring opportunities in sectors including pharmaceuticals, agriculture, manufacturing, technology and engineering.

Kulikova's comments indicate that Russia sees further scope for Indian and Russian companies to increase their commercial presence in each other's markets.

BRICS Creates Wider Business Opportunities

The BRICS Business Forum provides companies from member countries with an opportunity to explore partnerships, investment and market access.

The grouping has expanded to 11 members and represents a substantial share of the global population and economy. Current discussions are also focusing on practical initiatives such as startup cooperation, logistics and supply-chain connectivity. (The Indian Express)

For Russia, closer engagement with India through BRICS offers another channel for expanding commercial links with one of the world's major emerging economies.

Focus on Easier Cross-Border Trade

Improving the ease of doing business between BRICS economies has emerged as an important part of the economic agenda.

External Affairs Minister S. Jaishankar has called for resilient supply chains, predictable business conditions and diversified trade relationships among BRICS members. (The Economic Times)

Commerce and Industry Minister Piyush Goyal has separately urged BRICS countries to strengthen payment-system connectivity and increase the use of local currencies in trade.

Taken together, these initiatives could reduce some of the practical difficulties businesses face when operating across different financial and regulatory systems.

India-Russia Economic Ties

India and Russia have maintained a long-standing economic partnership, with energy and defence-related trade traditionally forming important parts of the relationship.

The two countries have also been working to expand cooperation in other sectors as they seek to diversify bilateral commerce.

For Indian businesses, Russia represents a large market for products and services, while Russian companies see India as an important destination for investment and commercial partnerships.

The challenge will be converting political goodwill into sustained growth in non-energy trade and creating more opportunities for private-sector companies.

Local-Currency Payments in Focus

Payment mechanisms are another factor that could influence future trade.

India has been advocating greater use of national currencies and improved payment connectivity among BRICS economies. Such mechanisms could potentially make cross-border transactions more efficient while giving businesses alternatives to conventional settlement arrangements.

However, deeper payment integration would require coordination between financial institutions, regulators and payment networks in participating countries.

A Broader BRICS Economic Push

Kulikova's remarks come as BRICS seeks to translate its growing economic weight into more practical cooperation.

The New Delhi summit is taking place against a backdrop of trade tensions, geopolitical disruptions and uncertainty around global supply chains. The bloc's leaders are considering initiatives covering startups, logistics and supply-chain cooperation, reflecting an effort to make economic collaboration more tangible. (The Indian Express)

For India and Russia, stronger bilateral trade could become one of the most visible outcomes of that broader economic engagement.

What Comes Next for India-Russia Trade

The key question will be whether expectations of higher trade can translate into concrete agreements and increased business activity.

Greater market access, efficient payment systems, reliable logistics and diversification into new sectors could help expand the trade relationship.

Kulikova's projection of a significant rise in trade therefore comes at a time when both India and Russia are looking to make their economic partnership broader, more resilient and less dependent on a limited number of sectors.