Entrepreneurs should be supported amid Coronavirus crisis: India at BRICS

Ministers from five nations of BRICS held a virtual meeting on Monday to discuss the impacts of Covid-19 and the way forward. India’s foreign minister S. Jaishankar emphasised on how businesses which are struggling have to be supported during this pandemic.

India’s external minister S Jaishankar said that member countries of BRICS should support entrepreneurs and Small and Medium businesses who have been deeply affected by the Coronavirus crisis. He stressed on how the pandemic is not only creating a health crisis but will affect global economy, making it suffer for years if right steps are not taken.

BRICS (Brazil-Russia-India-China-South Africa) is a group five leading nations who are all dealing with Coronavirus crisis now. A virtual meeting with foreign Ministers of these five nations was held to shed light on economic concerns and problems that are arising due to the Coronavirus pandemic. These five Nations have 3.6 billion population, which is half of the world’s total population and a combined GDP of USD 16.6 trillion.

The meeting was held under the chairmanship of Russian minister and had discussions which were primarily focused on the ways to deal with the crisis. Jaishankar highlighted how this pandemic has led to the loss of livelihoods and jobs of people all around the world. He emphasised on the need to support businesses to help them cope with this crisis. He also talked about how global trade and chain supplies have been negatively impacted during this pandemic.

He also informed the BRICS summit that India has been providing pharma assistance to nearly 85 nations and would continue to extend assistance wherever required.

Next BRICS meeting will be held on May 7 to discuss about how this virus can be effectively dealt with.

By: Aarushi Batra

Leave a Reply

Your email address will not be published. Required fields are marked *