PM Modi Stresses Secure Sea Routes At BRICS Event, References Strait Of Hormuz

Prime Minister Narendra Modi on Friday stressed the importance of securing sea routes and protecting seafarers, in an apparent reference to recent attacks on ships linked to Indians, particularly around the Strait of Hormuz. Speaking at the BRICS Business Forum in New Delhi, Modi said sustained global trade and economic growth depended on safe maritime routes, open supply channels and the security of those working at sea.

“Global trade progress is possible only when sea lanes are secure, supply routes remain open, and seafarers are safe,” Modi said. He added that India remained a strong supporter of freedom of navigation and the safety of seafarers. His remarks came in the presence of Iranian President Masoud Pezeshkian, whose country is involved in the ongoing conflict with the United States that has affected the strategic Gulf region.

Modi also highlighted the growing economic weight of BRICS, saying the grouping's combined GDP had expanded at nearly twice the pace of global GDP. He said BRICS countries account for 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 the Prime Minister, while global GDP had grown about two-and-a-half-fold, the combined GDP of BRICS nations had increased nearly four-and-a-half-fold.

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The Prime Minister said BRICS countries were also becoming important centres for innovation, with new initiatives ranging from grassroots solutions to frontier technologies. He pointed to India's efforts under its BRICS presidency to strengthen cooperation in areas including agriculture, healthcare, skills and smart grids. Modi also said India had entered into free trade agreements with 40 countries and called for greater efforts to reduce trade barriers and expand opportunities for businesses.

Pezeshkian, meanwhile, said geopolitical uncertainty, supply-chain disruptions and the increasing use of economic measures for political pressure had made the global economic environment more complicated. He argued that BRICS' strength should not be measured only by the size of its economies, but by its ability to build networks for trade, investment and joint financing. Russian President Vladimir Putin also referred to major structural changes in the global economy and the emergence of new engines of growth.

Modi held separate bilateral meetings with Putin and Pezeshkian on the sidelines of the 18th BRICS Summit, hosted by India in New Delhi. During his meeting with Putin, the Prime Minister discussed the conflict in the Middle East and developments in the Black Sea region. Modi reiterated India's position that dialogue and diplomacy remained the way forward for resolving conflicts.

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