Global Business Leaders From China, UAE, Brazil To Attend Modi’s Brics Business Forum Address

Top corporate executives from China, the UAE, Brazil, Russia and other Brics nations are expected to attend Prime Minister Narendra Modi’s address at the Brics Business Forum meeting on Friday evening.

Senior executives from China National Petroleum Corporation (CNPC), Industrial and Commercial Bank of China (ICBC), Huawei Technologies, Alibaba Group, First Abu Dhabi Bank, Emirates Airline, Etihad Airways and Brazilian aircraft manufacturer Embraer are among those expected to participate.

The Friday sessions, centred on “Building for Resilience, Innovation, Cooperation and Sustainability”, are likely to draw around 1,000 foreign delegates, people familiar with the programme said. The schedule remains tentative.

Commerce and Industry Minister Piyush Goyal and External Affairs Minister S Jaishankar are expected to address the opening session, before discussions turn to issues ranging from agricultural security and trade to investment and the digital economy.

The day-long programme will culminate in a Leaders’ Session expected to be addressed by Modi. Several visiting heads of government from Brics-plus countries may also attend the session.

Brics-plus comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates. Together, the economies account for around 26% of global trade.

Major Chinese Delegation In India

A sizeable Chinese business delegation is visiting India ahead of the 18th Brics Summit, scheduled for September 11-12.

Among the prominent Chinese executives expected are CNPC chairman Houliang Dai, ICBC chairman Lin Liao and China COSCO Shipping Corporation chairman Min Wan.

Business leaders from other Brics and partner economies include Embraer president and CEO Francisco Gomes Neto, Vale CEO Gustavo Pimenta, Naspers CEO Phuthi Mahanyele-Dabengwa, Russian Railways CEO and executive board chairman Oleg Belozerov, and Sberbank first deputy chairman Alexander Vedyakhin.

350 Meetings Held Ahead Of Summit

Around 350 meetings across various Brics tracks have been held in nearly 25 Indian cities during the year under India’s Brics chairship, according to people familiar with the preparations.

Goyal chaired ministerial meetings on industry and trade in Jaipur on August 6 and 7. At the meetings, member countries reiterated their commitment to protecting the interests of the Global South and preserving special and differential treatment for developing nations in multilateral forums.

Ahead of the summit, Finance Minister Nirmala Sitharaman is also chairing the final Brics Finance Ministers and Central Bank Governors meeting in Mumbai on Wednesday and Thursday.

The two-day meeting is expected to build on the preliminary work undertaken during the first FMCBG meeting in Jaipur on August 12 and seek greater consensus on key economic issues.

Addressing that meeting, Sitharaman stressed the importance of collective action and practical cooperation, calling for Brics members to work towards resilient, inclusive and sustainable growth.

Industry representatives have also urged Brics to take the lead in developing resilient supply chains as major economies increasingly use trade measures as strategic tools.