Addressing the BRICS Business Forum in New Delhi, Prime Minister Narendra Modi stressed that global trade progress depends heavily on secure sea lanes, open supply routes, and the safety of seafarers. Pointing to recent maritime tensions in critical chokepoints like the Strait of Hormuz, he reiterated India’s firm stance on freedom of navigation and the protection of personnel.
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Explosive Economic Expansion: PM Modi highlighted that the combined GDP of BRICS nations has grown at nearly twice the pace of the rest of the world, expanding nearly four-and-a-half-fold compared to a two-and-a-half-fold increase globally.
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Global Footprint: BRICS nations currently represent 50% of the world’s population, 40% of its GDP, and over 25% of global trade.
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New Initiatives under India’s Presidency: To boost trade and lower barriers, India has established cooperation frameworks in agriculture, health, skills, and smart grids, alongside launching the BRICS Incubator Network, MSME Portal, and Startup Innovation Fund.
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Global Leaders Weigh In: Iranian President Masoud Pezeshkian warned against supply chain disruptions and the weaponization of economic instruments, while Russian President Vladimir Putin noted that old economic leaders are being replaced by new engines of growth.
On the sidelines of the summit, PM Modi held bilateral talks with both Putin and Pezeshkian, reiterating that dialogue and diplomacy remain the only definitive way forward to resolve ongoing global conflicts.
