PM Modi placed maritime security and resilient supply chains at BRICS’ centre.
He said BRICS represents half the world’s population and 40% GDP.
Modi proposed removing trade barriers and supporting 100 startups every year.
Prime Minister Narendra Modi on Friday said pushed to ensure the safety of seafarers and sea lanes for the progress in the global trade.
Speaking at the BRICS Business Forum, Modi said, “Global trade progress is possible only when sea lanes are secure, supply routes remain open, and seafarers are safe. That is why India is a staunch supporter of freedom of navigation and the safety of seafarers,” he said.
His remarks also carried significance for India following the deaths of three Indian seafarers after a US military strike on a tanker in the Gulf of Oman. The Ministry of External Affairs said 24 Indians were aboard the vessel, of whom 21 were rescued while three initially remained missing and were later confirmed dead.
BRICS Has Grown At Nearly Twice The Pace'
PM Modi used the forum to underline BRICS’ growing influence in the world economy, saying its members now represent half the global population, 40% of global GDP and more than a quarter of international trade.
“While global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold,” Modi said.
“In other words, the economic strength of BRICS has grown at nearly twice the pace of the rest of the world,” he added.
The Prime Minister said member countries were also developing into important centres for innovation, with new ideas emerging across sectors ranging from grassroots initiatives to frontier technologies.
Calling the New Delhi gathering the largest BRICS Business Forum held so far, Modi said its scale reflected the grouping’s growing momentum and confidence.
Three Targets For BRICS Business Council
Modi proposed three measurable goals to strengthen commercial ties within the grouping. He asked the BRICS Business Council to identify the 10 biggest barriers to trade among member countries and recommend ways to remove them.
He also proposed supporting 100 BRICS startups every year to expand into other member markets and creating 1,000 new partnerships among businesses across the bloc.
“We should review our progress on these three parameters every year,” Modi said. “Let us transform BRICS’ ambitions into action and our collective strength into global solutions.”
He urged member countries to deepen investment and talent exchanges while strengthening cooperation between their private sectors.
India Pitches Itself As A Global Solutions Hub
Modi said India had more than two lakh registered startups and 120 unicorns, positioning the country as a centre for innovation and business solutions.
Against a backdrop of economic uncertainty and rising trade barriers, he said India was building commercial bridges and offering opportunities for growth and stability.
The Prime Minister also highlighted India’s infrastructure expansion across roads, railways, ports and airports. He said the country was developing domestic capabilities in strategic sectors including shipbuilding, semiconductors, quantum technology, biotechnology and critical minerals.
On digital infrastructure, Modi cited the scale of India’s Unified Payments Interface, saying UPI now accounts for around half of the world’s real-time digital transactions.
Focus On Women-Led Businesses
Modi also highlighted the BRICS Women’s Business Alliance as an important part of the grouping’s economic agenda.
“We want women entrepreneurs to lead our growth story,” he said, adding that nearly 200 women business leaders had participated in the alliance’s meeting in India.
The Prime Minister called on BRICS governments and businesses to convert the grouping’s economic expansion into practical cooperation. “Let BRICS move forward and propel the world forward as well,” he said.
