CII Chief R Mukundan On BRICS Trade, 7.8% Growth, Reforms And India’s Chip Push

CII President R Mukundan Talks about BRICS, India’s economic outlook, UPI, reforms and semiconductor manufacturing. Calling the BRICS summit successful, Mukundan said the business forum focused on boosting intra-BRICS trade and investment by aligning quality standards, easing documentation and reducing investment risks. He highlighted the gap between BRICS’ share of global GDP and trade as a major opportunity. On India’s 7.8% Q1 GDP growth, Mukundan said West Asia tensions and higher oil prices could raise logistics costs and inflation, while demand remains positive. He also identified formalisation, inclusion and digitalisation as three key reforms, while highlighting India’s growing semiconductor manufacturing ecosystem.