Summary of the Speech Presented by Mr.

Tulsi Tanti, Suzlon Group on

Economic Integration-Challenges for Sustainable Growth at BRICS Business
Forum July 14, 2014

Mr. Tulsi Tanti, Chairman Suzlon Group delivered a speech yesterday on Economic Integration
Challenges for Sustainable Growth at the BRICS Business Forum July 14, 2014, Fortaleza, Brazil
where he led the Business Council that represented the Indian business community.
Mr. Tanti laid emphasis on the relevance of the topic primary because of two reasons:
Region needs to reestablish its prominence as a primary driver of the global economy
World economy is currently in a state of uncertain growth and therefore BRICS have to look
towards regional and domestic drivers for regaining and sustaining the growth momentum
The key highlights of the speech presented by Mr. Tanti are divided into five segments which are as
follows:
I. Growth experience of the BRICS economies during the crisis period
BRICS has the potential to overtake G7 in the next ten years
Prolonged growth deceleration, the reversal of capital flows have led to equity market losses,
currency depreciation and loss of business confidence exposing the vulnerability of the BRICS
economy to sustain and grow as a region
Policy challenge for the BRICS region is how to sustain a rapid and economic growth driven by
both external and domestic markets in a sustainable and more balanced way
II. Indian perspective and the influence it can have in shaping the sustainable development
agenda of the BRICS
The Indian economy has begun to stabilize linked to voting of a stable and decisive government
under the able leadership of Honble Prime Minister Shri Narendra Modi which has a clear focus
towards affordable , accessible and sustainable energy for all
Indian budget presented recently has laid our measures to fast track economic revival and has
laid down the road month map for reaching 7%-8% growth rate
The new government is also encouraging FDI across all sectors, massive investment in
infrastructure, energy, renewable and manufacturing thereby stimulating both consumption and
the investment cycle thereby boosting investor confidence
We strongly believe India can play a key role in advancing the agenda of the BRICS nations and
help shape a framework for greater integration and sustainable growth of the region
III. India and BRICS Co-operation: Recommended five point agenda
BRICS nations need to promote greater regional integration which is the key for job creation
and for rapid sustainable growth


Set out a clear agenda on sustainability as the cooperation and coordination by BRICS nations
will act as a catalyst in achieving the Millennium Development Goals which is crucial for
sustainable development
Strengthening of financial architecture and banking institutions to provide long term large scale
funding for development projects including infrastructure of BRICS nations. Also called for an
instruments that can help in mitigating country and currency risks leading to increased capital
flow from the matured financial markets for the benefit of BRICS
Driving innovation and technology as Mr. Tanti is of the view that technology has an impact not
just in driving economic growth but also has a big role to play to lift the bottom of the pyramid.
BRICS leaders need to work towards creating conditions for technological collaborations and
exchanges within the region that provides cost effective sustainable solutions addressing social
and economic challenges
Shaping the global agenda through engagement and cooperation across various platforms such
as G20, WTO, UNFCC, WHO on critical themes such as climate change, energy and food security
as well as geo political stability

IV. Recommendations in certain areas of cooperation in business, trade and investment
Agriculture and food security
Infrastructure and Mining
Information technology, Biological Science, Space Exploration, Healthcare and Innovation
Energy Security & Sustainable Job Creation
Energy is going to be the biggest sector of opportunities in the future, not in only clean
energy sources but also in gas pipeline, shale gas, oil exploration, smart grids and
nuclear energy efficiency
BRICS economies are traversing the path of a new energy architecture embracing wind,
solar and other forms of clean energy sources
Many Indian and Chinese companies are now global players in providing the clean
energy technology solutions for massive deployment. There exist specific opportunities
for Russia, South Africa , Brazil to take the benefit of this if the clean energy market is
opened up and BRICS companies are incentivized
India can share its homegrown experience of wind energy to the entire BRICS
geographies