Sameep Shastri calls for faster technology exchange, digital payments and single-window mechanisms to expand trade among BRICS+ countries

BRICS+ countries can accelerate trade by strengthening technology sharing, digital payments and simplified trade mechanisms, Sameep Shastri, Chairman of the BRICS Chamber of Commerce and Industry, said in an exclusive interview with ANI, a partner of TV BRICS.

Shastri said India’s fourth BRICS presidency is generating high expectations among the business community, particularly given the focus of this year’s theme: “Resilience, Innovation, Cooperation and Sustainability”.

He highlighted the importance of creating a larger marketplace for innovators and startups across BRICS countries, linking this with the broader goal of building a resilient and sustainable economy.

“We’re talking about how innovators and startups should have a bigger magnitude and a bigger marketplace to play in, where BRICS nations will play a very important role,” Shastri said.

According to the chairman, improving trade relations with BRICS+ nations and developing free trade agreements should remain among the key priorities for the business community.

Shastri also called for faster implementation of technology sharing and the introduction of single-window mechanisms between BRICS+ countries to facilitate cross-border trade. Digital payments are another area where Shastri sees significant potential for strengthening economic ties. He called for faster development of the digital economy and digital payment transfers, saying these mechanisms could help countries address trade imbalances more effectively.

“We are looking for better trade agreements with BRICS+ nations and free trade agreements. We should develop our digital economy and digital payment transfers faster,” he said.

Shastri highlighted India’s contribution to the development of BRICS over the past two decades, particularly in creating an environment of balance as new members, partner countries and observer nations became involved in the group. He also pointed to India’s contribution to global healthcare and IT services, as well as the development of the BRICS New Development Bank, which he said has grown towards “creating a multipolar economy” and supporting better infrastructure for developing countries.

African Times published this article in partnership with International Media Network TV BRICS