Jai Shroff Calls for Stronger BRICS Economic Cooperation

Jai Shroff, Chair of the BRICS Business Council and Chairman & Group CEO of UPL Ltd, has called for deeper economic cooperation among BRICS nations, urging businesses to build stronger connections across markets, technology, capital and manufacturing.

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Speaking at the BRICS Business Forum, Shroff said BRICS should be viewed not merely as a collection of large markets but as an interconnected economic network where the strengths of member economies can complement one another.

He highlighted the potential for resources from one BRICS economy to support manufacturing in another, while technologies developed in one market could achieve greater scale across the grouping. He also stressed that capital should be able to find productive projects and businesses should gain access to new partners and customers across BRICS economies.

“We should be looking at BRICS not simply as a group of large markets, but as an economic network where our strengths can reinforce one another,” Shroff said.

Focus on the Global South

Shroff also pointed to Prime Minister Narendra Modi’s emphasis on keeping BRICS responsive to the priorities of the Global South. He said this places an important responsibility on business communities across member countries.
According to Shroff, economic growth should go beyond expanding markets. It should also focus on building capabilities, creating jobs, spreading technologies, strengthening entrepreneurship and opening new opportunities across BRICS economies.
He said stronger business-to-business cooperation could help deepen economic ties while demonstrating the potential of South-South partnership.
“If BRICS business can do that together, we can not only deepen the economic cooperation among our countries, we can demonstrate what a strong model of South-South partnership can deliver,” he said.

The remarks underline the growing importance of private-sector collaboration in strengthening BRICS economic integration and creating opportunities across emerging economies.