New Delhi: Prime Minister Narendra Modi has stressed the need for secure maritime routes and safe passage for seafarers, linking the safety of global shipping networks to the growth of international trade.
Addressing the BRICS Business Forum in New Delhi, Modi said global trade could progress only when sea lanes remain secure, supply routes stay open and seafarers are protected. His remarks come amid growing concerns over attacks and disruptions involving commercial vessels in the Strait of Hormuz.
“India is a staunch supporter of freedom of navigation and the safety of seafarers,” Modi said, underlining the importance of protecting critical maritime routes.
The Prime Minister also highlighted the growing economic strength of BRICS. He said the grouping now represents around 50 per cent of the world’s population, 40 per cent of global GDP and more than 25 per cent of global trade.
According to Modi, while the global economy has expanded around two and a half times, the combined GDP of BRICS nations has increased nearly four and a half times, meaning its economic strength has grown at almost twice the pace of the rest of the world.
He also pointed to the bloc’s growing role in innovation, saying BRICS countries are emerging as important centres for technological solutions and new ideas.
Modi said India remained committed to reducing trade barriers and has entered into free trade agreements with 40 countries. Under its BRICS presidency, India has also established cooperation networks covering agriculture, healthcare, skills and smart grids. Initiatives such as the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund are aimed at connecting businesses and startups with markets, finance and talent.
Iranian President Masoud Pezeshkian highlighted geopolitical uncertainty and supply chain disruptions as major challenges for the global economy, calling for stronger practical cooperation within BRICS.
Russian President Vladimir Putin also spoke about major changes in the global economic order and the emergence of new engines of growth.
On the sidelines of the summit, Modi held separate meetings with Putin and Pezeshkian. During his meeting with Putin, Modi discussed conflicts in the Middle East and the Black Sea region and reiterated that dialogue and diplomacy remain the way forward for resolving conflicts.
