Modi urged BRICS to give the Global South a greater role in shaping global institutions, including through long-delayed UN Security Council reforms.
Modi said BRICS is emerging as a major hub for innovation, with the bloc’s largest-ever Business Forum showcasing new opportunities.
Modi called for the removal of the top 10 trade barriers among BRICS nations and 1,000 new business partnerships.
Prime Minister Narendra Modi has urged BRICS to turn its growing economic weight into tangible business gains, calling for the bloc to identify and remove its top 10 trade barriers, help 100 startups a year expand into fellow BRICS markets and foster 1,000 new business partnerships.
Speaking at the BRICS summit at Bharat Mandapam in the Capital on Saturday, Modi said progress on the three goals should be reviewed annually, signalling a push to make the grouping more commercially integrated rather than simply a forum for political coordination.
His message came against a backdrop of growing Western scrutiny of BRICS as the grouping expands its membership and influence. Pointing towards the concerns of the United States, Modi stressed that BRICS is “not against anyone”, while arguing that its growing role should be understood as part of a broader effort to reshape global institutions.
He called for greater representation for developing countries in global decision-making, saying the Global South is often on the front lines of global crises but remains largely absent from the rooms where major decisions are made. BRICS, he said, should help transform developing nations from “rule takers” into “rule shapers”.
“If our future is shared, the right to shape that future should also be shared,” Modi said, framing greater representation as the central political message of India’s BRICS presidency.
He called for time-bound reforms of global institutions, including the United Nations Security Council, arguing that its reform could no longer be postponed. He also pressed for changes to voting rights and leadership structures at international financial institutions to better reflect the world’s current economic balance.
The economic argument behind that push is substantial. Twenty years after BRICS was created, the grouping and its partners now represent half of the world’s population, 40 percent of global GDP and more than a quarter of global trade. Their combined economies, Modi noted, have expanded nearly twice as fast as the global economy over the same period.
India’s presidency has centred on “Building for Resilience, Innovation, Cooperation, and Sustainability,” themes Modi linked to the country’s own economic transformation. He highlighted efforts to diversify supply chains, expand infrastructure and build capacity in strategic sectors including semiconductors, shipbuilding, quantum technology, critical minerals and biotechnology.
But the Prime Minister also emphasised that economic integration depends on the movement of goods. “Global trade can only advance if sea lanes are secure, supply routes remain open, and seafarers are safe,” he said, reaffirming India’s support for freedom of navigation and the safety of seafarers.
Modi believes BRICS should use its expanding economic footprint to create new markets, connect businesses and give developing countries greater influence over the rules governing the global economy. The challenge now is whether the bloc can convert that ambition into partnerships and trade reforms.
