PM Modi Calls for Secure Sea Routes, Highlights Growing BRICS Economic Power
New Delhi: Prime Minister Narendra Modi has stressed the importance of keeping international sea routes safe, saying global trade and economic growth cannot move forward unless shipping lanes remain secure and seafarers are protected.
Speaking at the BRICS Summit Business Forum in New Delhi, PM Modi appeared to refer to the growing security concerns surrounding maritime routes, including the Strait of Hormuz, a crucial global shipping corridor that has been caught up in escalating geopolitical tensions.
“Global trade progress is possible only when sea lanes are secure, supply routes remain open, and seafarers are safe,” Modi said, reaffirming India’s strong support for freedom of navigation and the safety of those working at sea.
His remarks come at a time when disruptions and attacks affecting commercial shipping have raised concerns over global supply chains, trade flows and the safety of crews, particularly in strategically important maritime corridors.
BRICS’ Growing Economic Influence
Alongside maritime security, Modi highlighted the rapidly expanding economic influence of the BRICS grouping.
According to the Prime Minister, BRICS countries now account for around 50% of the world’s population, 40% of global GDP and more than 25% of global trade.
He pointed out that while the global economy has grown roughly two-and-a-half times over the period under discussion, the combined GDP of BRICS nations has expanded nearly four-and-a-half times.
“This means the economic strength of BRICS has grown at nearly twice the pace of the rest of the world,” Modi said.
He also described BRICS nations as increasingly important centres for innovation, with new ideas and solutions emerging across sectors ranging from grassroots initiatives to advanced technologies.
Modi noted that the Business Forum being hosted in India was the largest BRICS Business Forum to date, reflecting the growing scale and importance of economic cooperation among member countries.
India Pushes for Greater Trade Cooperation
The Prime Minister also underlined India’s efforts to reduce trade barriers and create greater opportunities for businesses.
He said India has entered into free trade agreements with 40 countries and emphasised the need for stronger economic links among BRICS members.
Under India’s BRICS presidency, new cooperation networks have been established in areas such as agriculture, healthcare, skills development and smart grids.
India has also launched initiatives aimed at helping startups and small businesses connect with international markets and sources of finance. These include the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund.
Modi encouraged businesses across BRICS nations to make greater use of these platforms to promote investment, innovation and the exchange of talent.
Pezeshkian Warns of Geopolitical Uncertainty
Iranian President Masoud Pezeshkian also addressed the challenges facing the global economy, pointing to geopolitical uncertainty and disruptions to supply chains.
He argued that the current international environment has become increasingly complicated as countries deal with geopolitical tensions and the use of economic tools to exert political pressure.
Pezeshkian said the real strength of BRICS should not simply be measured by the size of its member economies. Instead, he called for those economic capabilities to be transformed into practical networks of trade, investment and joint financing.
According to him, BRICS needs to move from the potential for cooperation towards “operational cooperation” that can deliver tangible economic benefits.
Putin Points to a Changing Global Economy
Russian President Vladimir Putin also spoke about what he described as major structural changes taking place across the global economy.
Putin said the world was going through a period of “structural, deep, profound shifts,” with traditional economic leaders increasingly being challenged by new centres of growth.
His remarks reflected the broader BRICS message that global economic power is becoming more distributed, with emerging economies playing a larger role in international trade and investment.
Modi Holds Talks With Putin and Pezeshkian
On the sidelines of the 18th BRICS Summit, PM Modi also held separate bilateral meetings with Russian President Vladimir Putin and Iranian President Masoud Pezeshkian.
During his meeting with Putin, Modi discussed the ongoing conflict in the Middle East as well as developments and conflicts in the Black Sea region.
The Prime Minister reiterated India’s position that dialogue and diplomacy remain the only sustainable way forward for resolving conflicts.
With maritime security, supply chains, trade and geopolitical tensions dominating discussions, the BRICS summit in New Delhi highlighted the growing importance of cooperation among emerging economies at a time of major changes in the global economic and strategic landscape.
News Source : Information for this article was gathered from a variety of reliable news outlets.
