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India is emerging as a key investment destination for businesses from BRICS countries, with business leaders attending the BRICS Summit highlighting the country's economic growth, manufacturing and engineering capabilities, and opportunities for trade, technology partnerships and joint ventures.
Speaking to ANI on the sidelines of the summit, Abednico Mkhari, Founder, Managing Director and CEO of NTGR Engineering from South Africa, said Indian companies offer significant opportunities for partnerships, particularly in engineering and technology. He said South African businesses are looking to work with Indian companies and share technology to support further economic growth. We are excited to partner with the engineering Indian companies so that we can also share the technology together and to keep it on and move the GDP on the highest level, Mkhari said. Mkhari also highlighted the importance of stronger trade ties between India and South Africa, saying businesses need to increase the exchange of products between the two countries. He described BRICS as an important platform for strengthening business ties and said South African and Indian businesses should work together rather than compete. We are not competitors, but we are collaborators, Mkhari said. Sharing a similar thought on BRICS, Alexandr Kokov, Founder and CEO of GSBI Ltd from Russia, also highlighted India's growing importance for BRICS businesses and the global economy. Kokov said India is a huge economy that is developing rapidly and offers significant room for investment. There is lots of room for investment opportunities here, he said, adding that Russia sees India as one of the fundamental core engine for the further development, not only for the BRICS, but for the global economy. He said the growing investment potential of the Indian economy was one reason the BRICS Summit in India had attracted significant attention. India for the further economic development is really a top priority destination, Kokov said. Kokov, however, said there is a need to improve the flow of information about India's economy among entrepreneurs in other BRICS countries. Our entrepreneurs still don't have enough information about what this India economy is about, he said, calling for greater information exchange to help businesses identify sectors that are growing and have strong potential. He said BRICS has significant scope for economic cooperation through trade and joint ventures, and expressed optimism that the grouping is at the beginning of a larger journey of economic cooperation. The 18th BRICS Summit is being hosted by India in New Delhi on September 12-13 under India's 2026 chairship. (ANI)
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