Prime Minister Narendra Modi has called on BRICS countries to help 100 startups every year expand into other member markets.
Speaking at the BRICS Business Forum in New Delhi on Friday, Modi asked the BRICS Business Council to work towards three goals: identify and remove the 10 biggest barriers to trade among member countries, help 100 BRICS startups expand into other member markets every year and facilitate 1,000 new business partnerships annually.
He said progress on these targets should be reviewed every year.
The proposal comes as BRICS has grown into a grouping of 11 countries, accounting for close to half of the world’s population, about 40% of global GDP and more than a quarter of global trade.
Modi said India, with more than 2 lakh registered startups and over 120 unicorns, could play a bigger role in taking innovation across BRICS markets.
