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India’s private division greets BRICS enlargement
(MENAFN) The recent expansion of BRICS has been met with enthusiasm by the Indian business community, which views it as a significant opportunity for increased access to markets in Africa and the Middle East. During the BRICS Business Forum held in Moscow, business leaders expressed optimism about the potential benefits of the new member countries—Egypt, Iran, Ethiopia, and the United Arab Emirates—joining the group.
Naveen Kapur, the sherpa-chairman of the Indian chapter of the BRICS Business Council, emphasized that the inclusion of Egypt and Ethiopia opens up enhanced opportunities for accessing African markets. He stated, "More opportunities are definitely emerging after the BRICS expansion. The potential for business partnerships has increased significantly."
Ankita Sachdev, joint director of the BRICS Chamber of Commerce and Industry, echoed this sentiment, noting that the expansion has been positively received within the Indian business sector. She highlighted that the announcement of new members has already facilitated numerous business deals for Indian firms. In light of this growth, the Chamber has also established offices in Dubai and Saudi Arabia, where there is considerable interest in collaborating with Indian companies.
Kapur further elaborated on India's strategic goals within the BRICS framework, stressing the importance of manufacturing as a key driver of economic growth and employment. He pointed out India's substantial resource base and demographic advantages, noting the country's large young population. "By skilling them, we aim to enhance their employability and learn from the experiences of other BRICS countries," he explained.
The expansion of BRICS not only strengthens economic ties among member nations but also provides a platform for India to collaborate more closely with emerging markets, fostering mutual growth and development. As the Indian private sector positions itself to leverage these new opportunities, the potential for innovative partnerships and economic synergy appears promising.
Naveen Kapur, the sherpa-chairman of the Indian chapter of the BRICS Business Council, emphasized that the inclusion of Egypt and Ethiopia opens up enhanced opportunities for accessing African markets. He stated, "More opportunities are definitely emerging after the BRICS expansion. The potential for business partnerships has increased significantly."
Ankita Sachdev, joint director of the BRICS Chamber of Commerce and Industry, echoed this sentiment, noting that the expansion has been positively received within the Indian business sector. She highlighted that the announcement of new members has already facilitated numerous business deals for Indian firms. In light of this growth, the Chamber has also established offices in Dubai and Saudi Arabia, where there is considerable interest in collaborating with Indian companies.
Kapur further elaborated on India's strategic goals within the BRICS framework, stressing the importance of manufacturing as a key driver of economic growth and employment. He pointed out India's substantial resource base and demographic advantages, noting the country's large young population. "By skilling them, we aim to enhance their employability and learn from the experiences of other BRICS countries," he explained.
The expansion of BRICS not only strengthens economic ties among member nations but also provides a platform for India to collaborate more closely with emerging markets, fostering mutual growth and development. As the Indian private sector positions itself to leverage these new opportunities, the potential for innovative partnerships and economic synergy appears promising.
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