Experts Back PM Modi’s Remarks on BRICS Economies Driving Global Growth

Source: Lokmat Times | Original Published At: 2026-09-12 16:00:00 UTC

Key Points

• Experts backed Prime Minister Narendra Modi's remarks on the growing significance of BRICS economies.
• Former Commerce Secretary Ajay Dua said BRICS nations, particularly India and China, have recorded growth rates well above the global average of about 3.5% annually.
• Dua cautioned that achieving greater economic self-reliance remains difficult, noting that progress under Make in India has been sectoral rather than across the board.
• SWFI Chairman Lakshmi Narayanan said BRICS economies account for nearly $33 trillion in GDP, or about 27% of the global economy.
• Narayanan said BRICS and allied nations have an estimated combined economic strength of about $82 trillion on a purchasing power parity basis, exceeding the G20.
• He said trade and commerce, including bilateral trade, are expected to be central to BRICS discussions amid global trade disruptions.
• Narayanan said iBRICS aims to facilitate investments worth $1 trillion into the BRICS economy to support development and strengthen cooperation among member nations.