Pezeshkian seeks closer BRICS trade ties at New Delhi forum

Iranian President Masoud Pezeshkian told the BRICS Business Forum in New Delhi that the grouping must move from “potential cooperation to operational one” through trade, investment and joint financing.

He cited geopolitical uncertainty, supply-chain disruptions and the use of economic tools for political pressure as challenges facing countries. Brazilian Foreign Minister Mauro Vieira said BRICS members now account for 40% of global economic output. Union Commerce and Industry Minister Piyush Goyal said their merchandise exports rose from about $900 billion in 2003 to nearly $6 trillion in 2024.

More than 2,000 business leaders and delegates from member countries and partner nations attended the forum, which Goyal described as the largest held so far. Discussions covered non-tariff barriers, global value chains, agriculture and agri-technology, services trade, women-led enterprises and the digital economy.

The formal BRICS summit in New Delhi is scheduled to open the following day. Goyal said the BRICS Business Council’s annual report contains more than 44 recommendations.