Summary:
Speaking at the Global Business Research Conference (GBRC) 2026, Commerce and Industry Minister Jitin Prasada said India remains one of the world’s fastest-growing major economies despite global economic and geopolitical uncertainties. He highlighted the country’s focus on trade, manufacturing, innovation, artificial intelligence, semiconductors, and international partnerships to strengthen economic resilience. The conference, hosted by IIFT, brought together academics, policymakers, and industry leaders to discuss business challenges in a changing global landscape, with sessions covering topics such as BRICS, AI, international trade, entrepreneurship, and economic development.
India continues to rank among the fastest-expanding major economies globally despite ongoing international economic and geopolitical challenges, Minister of State for Commerce and Industry Jitin Prasada said on Thursday. He emphasised that the country’s long-term growth strategy remains centred on strengthening trade, manufacturing, innovation, and technological advancement.
Speaking at the opening of the Global Business Research Conference (GBRC) 2026 hosted by Indian Institute of Foreign Trade, Prasada noted that India is working to enhance its economic resilience as global markets face increasing uncertainty and disruption.
He pointed to the country’s advancements in fields such as artificial intelligence, semiconductor manufacturing, and international trade collaborations as evidence of India’s rising influence in the global economic landscape.
Addressing an audience comprising scholars, policymakers, and business leaders at the conference, which is themed Managing Business Amidst Worldwide Turbulence, Prasada stressed the vital role of research institutions in shaping effective policy and supporting economic progress.
He remarked that IIFT has played an important role in producing research-based insights, nurturing future business professionals, and facilitating India’s engagement with global markets. He also expressed confidence that the conference discussions would generate valuable policy recommendations.
The two-day event has attracted academics, management professionals, researchers, and industry representatives from India and abroad to examine the opportunities and challenges confronting businesses amid economic volatility and geopolitical shifts.
IIFT Vice-Chancellor Rakesh Mohan Joshi observed that changing geopolitical realities, evolving trade patterns, and technological developments—particularly in artificial intelligence—are transforming the global business environment.
He stated that as nations seek to strengthen economic stability and deepen international cooperation, the need for research-backed policy guidance has become increasingly significant.
According to Joshi, the conference reflects IIFT’s ongoing commitment to fostering academic inquiry and meaningful dialogue on international trade, business competitiveness, and economic development.
One of the key sessions, titled BRICS Amid Geopolitical Turbulence in a Multipolar World, will explore how BRICS nations are influencing global economic governance and the future structure of international trade.
The programme also features Directors’ Conclaves focusing on topics such as business school internationalisation, the integration of artificial intelligence into management education, innovation and entrepreneurship, and teaching methodologies in a changing geopolitical landscape.
Researchers are presenting papers across a wide range of disciplines, including finance, marketing, strategy, international trade, supply chain management, information technology, analytics, and public policy.
The conference has drawn participation from senior academic representatives of institutions including the Indian Institutes of Management, IIT Bombay, Indian School of Business, Management Development Institute Gurgaon, BIMTECH, Delhi School of Economics, and Gokhale Institute of Politics and Economics.
The event will conclude on June 5 with a valedictory session, during which awards will be presented for outstanding research papers, poster presentations, and doctoral research contributions.
