Association with BRICS

BRICS

Mr. Sahney has been an integral part of Prime Minister’s delegation for BRICS Summits. As a successful entrepreneur and keeping his firm grip on the pulse of global economy with the belief that BRICS nations are going to be the major economies within next two decades, Mr. Sahney has been making several observations and recommendations on the sidelines of the BRICS Summit. He puts great emphasis on this summit as well as the allied activities for he feels that this platform is truly focus on enhancing trade, investment and cooperation between the five BRICS member countries and in identifying emerging business opportunities amongst the BRICS countries. He feels that this summit provides great opportunity to interact and network with the government and business delegations from emerging economies of Brazil, Russia, China and South Africa.

On the sidelines of BRICS Summit in Durban, while presenting the viewpoint on agriculture and its positive impact, he made meaningful observations before the Heads of States of BRICS Nations. He highlighted the fact that since the constituents of BRICS cover 26% of world’s geographical area and 45% of global population, agriculture plays a critical role in overall economic development of BRICS nations. Agriculture is not only to be viewed as source of food but agricultural growth is also a means to employment led growth and poverty reduction.

Mr. Sahney underlines several challenges being faced in economic growth of agri sector such as lack of market efficacy & price volatility; rising input costs and change of agricultural land usage; changing patterns in agriculture and supply chains; cereal and grain production being replaced by cash crop produce. He is observant of several initiatives undertaken by BRICS nations including National Food Security Mission by India, Zero Hunger campaign by Brazil, promoting markets to stimulate productivity by China and so on. He deliberated on sharing of experiences in co-operations in farming across these countries and cultivation of more agricultural lands. He also emphasises on developing capacity building for value added agri products to generate employment. He also emphasises on institutional framework to bring out technology advancement and innovation in agriculture for sustained development.

Mr. Sahney is of the view that the increasing GDP of BRICS countries, through agri sector, can translate into enhancing income. The idea of this forum is to identify their co-partners, their business and learn from each other.

Mr. Sahney welcomes the idea of setting up of BRICS Development Bank, and adds that bank should control volatility in food prices and inflation and support mega agri based infrastructure projects. He urges BRICS nations to support concerns of African countries over food security and be part of global endeavour to combat hunger and use agriculture as means of Economic development and growth.

In addition to the Heads of State and Trade Ministers of the BRICS countries, the BRICS Summit also had the participation from Heads of State of about 15 African nations, Chairman of the African Union, Head of African Development Bank and Secretary Generals of eight Regional Economic Councils of Africa.

Mr. Vikramjit Sahney welcomes the idea of setting up of BRICS Development Bank, and adds that bank should control volatility in food prices and inflation and support mega agri based infrastructure projects.