PM Modi Champions Economic Integration and Maritime Security at BRICS Business Forum
NEW DELHI: Prime Minister Narendra Modi has issued a clarion call for the BRICS nations to dismantle trade barriers and foster deeper economic synergy, positioning the bloc as a primary engine for global stability and growth. Addressing the BRICS Business Forum, the Prime Minister highlighted the grouping’s transformative reach, noting that its members now account for 50% of the world’s population, 40% of the global GDP, and a quarter of all international trade.
Strengthening the Economic Bloc
PM Modi pointed to the impressive economic trajectory of the BRICS nations, noting that their combined GDP has expanded approximately 4.5 times since the grouping’s inception in 2006. This growth rate, he remarked, is nearly double that of the global economy. By emphasizing that BRICS is a collection of emerging markets and developing nations, he challenged members to leverage their collective weight to create practical solutions for the challenges facing the Global South.
To translate this potential into tangible results, the Prime Minister proposed that the BRICS Business Council identify the top 10 impediments to trade and prioritize their removal. He further floated ambitious targets for the bloc, including facilitating the scaling of 100 startups across member markets annually and forging 1,000 new business-to-business partnerships. “Let us turn the ambition of BRICS into action and its collective strength into global solutions,” he stated.
Maritime Security and Trade Flow
A cornerstone of the Prime Minister’s address was the imperative of secure supply chains. Underscoring India’s commitment to an open and safe global trade environment, Modi emphasized that prosperity is inextricably linked to the security of maritime routes.
“Global trade can move forward only when sea lanes are secure, supply routes are open, and seafarers are safe,” he asserted. The remark comes at a precarious time, with escalating concerns regarding the disruption of traffic in the Strait of Hormuz and the Bab al-Mandab Strait, both of which are vital arteries for India’s energy and commodity imports.
A Balanced Path for BRICS
The Prime Minister’s vision for BRICS stands in contrast to the more confrontational stances adopted by some other prominent members. While leaders like Russia’s Vladimir Putin and Iran’s Masoud Pezeshkian utilized the platform to express resentment toward Western economic dominance and the impact of sanctions, PM Modi steered the conversation toward inclusivity and resilience.
India has consistently resisted efforts to rebrand BRICS as an anti-West alliance. Instead, the Prime Minister’s advocacy for intra-BRICS commerce serves a dual purpose: it acts as a hedge against global protectionism—such as the aggressive tariff strategies favored by the US—and serves as a diplomatic nudge to China. New Delhi continues to press Beijing to reduce its trade surplus, allow greater access for Indian goods, and refrain from weaponizing the supply of critical raw materials.
India’s Growth Trajectory
During the forum, PM Modi showcased India’s own economic evolution, anchored by the theme of “Building for Resilience, Innovation, Co-operation and Sustainability.” He pointed to the nation’s massive expansion in infrastructure and its strategic pivot toward high-tech sectors, including semiconductors, green hydrogen, quantum computing, and biotechnology.
With over 200,000 startups and 120 unicorns, India is positioning itself as a hub for global innovation. By inviting global businesses to “Make in India, Innovate with India, and Scale for the World,” the Prime Minister reaffirmed India’s role as a reliable, stable partner in an increasingly uncertain global landscape.
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