New Delhi: Prime Minister Narendra Modi on Friday called for BRICS to turn its growing economic weight into greater investment and expanded business ties, stressing that freedom of navigation, secure sea lanes and the safety of seafarers were essential to keeping global trade running.
Addressing the BRICS Business Forum in India, Modi urged the grouping to identify and remove its top 10 trade barriers, scale 100 BRICS startups into other member markets every year and build 1,000 new business partnerships annually.
The grouping, he said, should convert its growing economic weight into concrete opportunities for businesses, positioning India as a country building “economic bridges” at a time when trade barriers are rising globally.
“Global trade can only progress if sea lanes are secure, supply routes remain open, and seafarers are safe. Therefore, India is a staunch supporter of freedom of navigation and the safety of seafarers,” he said.
The remarks came amid wars in two theatres and geopolitical conflicts disrupting energy and other trade through vital sea lanes, raising prices and disrupting supply chains. Indian ships have been attacked during the US-Iran conflict and the country’s seafarers have been abducted by pirates.
Modi highlighted the scale of the expanded BRICS grouping, saying member-countries and partners now represent around half of the world’s population, 40 per cent of global GDP and more than a quarter of global trade. Over the past two decades, he said, the combined GDP of BRICS economies expanded around four-and-a-half times, compared with a roughly two-and-a-half-fold increase in global GDP.
Modi placed infrastructure and strategic technologies at the centre of India’s pitch to global businesses, pointing to rapid expansion of roads, railways, ports and airports alongside new capacity in shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology.
“Make in India, Innovate with India, and Scale for the World,” Modi said, presenting India as both a manufacturing base and a source of technology and innovation for global markets.
He also sought to use India’s digital public infrastructure as a platform for deeper BRICS cooperation. Modi highlighted UPI’s population-scale deployment and said BRICS innovators could draw on India’s experience to develop digital solutions suited to their own markets.
The Prime Minister pointed to more than 200,000 startups and over 120 unicorns in India, saying BRICS should help take such innovations to global markets. Initiatives under India’s chairship include the BRICS incubator network, BRICS MSME portal and BRICS Startup Innovation Fund, alongside new cooperation networks in agriculture, health care, skills and smart grids.
Trade connectivity was another central theme. Modi said India had pursued free-trade agreements with nearly 40 countries since 2014 and argued that BRICS should similarly focus on reducing barriers and expanding opportunities for businesses.
He also stressed the importance of secure sea lanes and open supply routes for global trade, reaffirming India’s support for freedom of navigation and the safety of seafarers.
Looking ahead, Modi challenged the BRICS Business Council to establish measurable targets rather than limit itself to dialogue: identify the bloc’s top 10 trade barriers for removal, support 100 BRICS startups each year in expanding into other member markets, and create 1,000 new business partnerships annually.
“We must review our progress on these three parameters every year,” he said.
The pitch came as India seeks to make its BRICS chairship centred not only on the bloc’s economic weight, but on turning that weight into trade, investment, technology and business activity across member economies.
When it comes to resilience, Modi said, India has made its supply chains — spanning sectors from energy to technology — more diversified and reliable. It is a result of this very resilience that, even amidst global uncertainties, India today offers an assurance of growth and stability, he added.
At a time when trade barriers are rising globally, India is building economic bridges, he said, adding that since 2014 India has entered into free trade agreements with nearly 40 countries.
“Our approach within BRICS is the same: to reduce barriers and expand opportunities for businesses,” he said.
The Prime Minister said that India is rapidly expanding roads, railways, ports, and airports.
“Simultaneously, we are building new capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals, and biotechnology. In these areas, India is emerging as a hub of new opportunities for global businesses,” he said.
Modi said with over 200,000 startups and more than 120 unicorns, India is emerging as a hub for global solutions.
“Our startups are transforming education and health care through AI, working on Green Hydrogen and batteries, and breaking new ground in the defence and space sectors. Now, we must take these world-class innovations to global markets through BRICS as well,” he said.
On the Unified Payments Interface (UPI), he said at present 50 per cent of the world’s real-time payments take place using this technology.
“We have provided an open ecosystem to the industry and startups to develop new solutions on this digital layer. We are proud that many countries are adopting this world-class ecosystem from India. Innovators from BRICS nations can also leverage this experience to create new solutions for their own countries,” he said.
Putin says ‘not against anyone’, vows to scale up India ties
New Delhi: Russian President Vladimir Putin on Friday stressed the BRICS grouping was not against anyone and Moscow was open to working with the whole world as he agreed to further strengthen bilateral ties with India and slammed the economic restrictions imposed by the West on his country.
Prime Minister Narendra Modi raised the safety of Indian seafarers in the Black Sea during bilateral talks with Putin and reiterated India’s readiness to support any peace initiative to end the Ukraine conflict. The meeting took place hours after Putin landed in New Delhi on a three-day visit to participate in the high-stakes BRICS summit. After the talks, Modi and Putin travelled in the same car.
Addressing a gathering of BRICS business leaders ahead of the summit, Putin said Russia was ready to work with partners on infrastructure and logistics projects, including the Arctic Transport Corridor and North-South Transport Corridor, as well as cooperation in technology, artificial intelligence, unmanned transport, finance, tourism and industry.
“We are not against anyone,” Putin said. “We are in favour of our interests,” while asserting that BRICS remained open to cooperation with the wider world.
Putin said the proposed NDB-based investment platform would seek to mobilise private-sector funding and make BRICS economies more competitive. He expressed hope that other BRICS members would support the initiative.
“We need funding,” Putin said, adding that the NDB was already doing significant work but could provide the basis for a broader investment mechanism.
Signalling their resolve to maintain deeper engagement across diverse sectors, Modi and Putin agreed to strengthen the India-Russia Special and Privileged Strategic Partnership. According to an Indian readout, the partnership continues to register “significant growth” and has “shown resilience in the backdrop of geopolitical uncertainties”.
While reviewing trade and investment ties, the two sides resolved to push annual bilateral trade to USD 100 billion by 2030, up from the current USD 65 billion.
Modi said he and the Russian leader talked about closer trade ties, including implementation of the ‘Programme for Economic Cooperation 2030’ besides delving into engagement in areas like infrastructure, energy, technology, defence and culture.
The Ministry of External Affairs (MEA) said in the readout that Modi accepted Putin’s invitation to travel to Russia for the annual summit talks between the two countries.
In their over 45-minute talks, Modi and Putin also agreed to step up cooperation in defence, critical minerals, civil nuclear energy, fertiliser supplies and people-to-people exchanges. The two leaders “shared perspectives on key regional and global issues of mutual interest, including the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers”, the MEA said in the readout.
“The prime minister once again reiterated that dialogue and diplomacy was the way forward in resolving conflicts and India stood ready to assist in peace efforts,” it said.
Five Indian seafarers died in the Black Sea due to ongoing Russia-Ukraine hostilities, prompting India to strongly raise the incidents with both Moscow and Kyiv.
The two leaders also visited the INNOPROM India exhibition at the Bharat Mandapam and interacted with the participants.
“President Putin invited Prime Minister to visit Russia for the 24th India-Russia Annual Summit. The prime minister accepted the invitation. The dates of the summit will be decided as per mutual convenience through diplomatic channels,” the MEA said.
Speaking at the business forum after his talks with Putin, Modi said progress in global trade 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.
“The world is always changing,” Putin said, arguing that the economic weight of the traditional growth centres of the second half of the 20th century was being replaced by new engines of growth.
The Russian President framed the expanding BRICS economic architecture as an effort to advance national interests rather than exclude other countries. He argued that cooperation among governments, businesses and academia was helping BRICS build a resilient platform for global growth based on innovation and national priorities.
“The most important elements of this growth are not being imposed on anyone from the outside,” Putin said.
Putin rejected the idea that Russia or BRICS was seeking economic isolation, saying Moscow was ready to cooperate with both existing and new partners.
“We are open to working with the whole world,” he said, adding that the BRICS Business Council could provide additional momentum to trade and economic ties and help advance projects in infrastructure, logistics, finance and technological cooperation.
At the same time, Putin sharply criticised the economic sanctions and other restrictions, arguing that competition was increasingly taking forms that included trade restrictions, pressure on transport routes and secondary sanctions.
He criticised Western trade and financial restrictions, saying competition was increasingly taking “ugly forms” at both corporate and state levels.
Modi and Putin previously met on the sidelines of the SCO summit in Bishkek last week where the prime minister called for an immediate end to the Ukraine conflict and urged the Russian leader to shift from an “endless war towards the end of war”.
BRICS, originally comprising Brazil, Russia, India, China and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia, with Indonesia joining in 2025. Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam became BRICS partner countries last year.
World leaders arrive in Delhi
New Delhi: Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, South African President Cyril Ramaphosa and several other leaders arrived in Delhi on Friday to attend the two-day BRICS summit that gets underway from September 12.
Egyptian President Abdel Fattah El-Sisi, Vice President of Uganda Jessica Alupo and Vice President of Nigeria Sen. Kashim Shettima have also reached the national capital for the mega conclave.
India is hosting the 18th BRICS summit at Bharat Mandapam on September 12 and 13.
India assumed its fourth BRICS Chairship on January 1. The year 2026 also marks a milestone as BRICS completes 20 years since its establishment.
“Warmly welcome President Cyril Ramaphosa of South Africa for the 18th BRICS Summit in New Delhi. He was received by MoS Jayant Singh at the airport. India and South Africa share warm and historic ties anchored in Strategic Partnership. Our commitment as BRICS partners to the Global South remains steadfast. #BRICS2026 #BRICSIndia2026 #IndiaBRICSChairship,” the Ministry of External Affairs (MEA) posted on X.
On President El-Sisi’s arrival, it said, “Warmly welcome President of Egypt, Abdel Fattah el-Sisi to the 18th BRICS Summit in New Delhi. He was received by MoS Sanjay Seth at the airport. India and Egypt share deep bonds of friendship, as we work together to build a stronger BRICS partnership. #BRICS2026 #BRICSIndia2026 #IndiaBRICSChairship.”
BRICS, originally comprising Brazil, Russia, India, China and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, the UAE and Saudi Arabia, with Indonesia joining in 2025.
Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam became BRICS partner countries last year.
BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade.
In a media statement, the MEA had said India’s BRICS Chairship is guided by the theme of ‘Building for Resilience, Innovation, Cooperation and Sustainability’, reflecting Prime Minister Narendra Modi’s vision of a people-centric approach rooted in the spirit of ‘Humanity First’.
Russian President Putin arrived in Delhi on a three-day visit early in the morning.
“Warmly welcome President Vladimir Putin of Russia for the 18th BRICS Summit. He was received by MoS Kirtivardhan Singh at the airport. India and Russia share multifaceted and longstanding ties anchored in Special and Privileged Strategic Partnership. #BRICS2026 #BRICSIndia2026 #IndiaBRICSChairship,” the MEA said.
Iranian President Pezeshkian also arrived in the national capital. Besides attending the summit, he will hold bilateral talks with PM Modi to advance two-way trade and strengthen overall ties.
It is Pezeshkian’s first visit to India as president. The visit assumes significance as it comes amid a sudden spike in tensions in West Asia following the US slapping new punitive economic measures against Iran.
Brazilian Foreign Minister Mauro Vieira, Russian Foreign Minister Sergey Lavrov, and their counterparts from Burunudi, Ethiopia and Nigeria have also reached Delhi.
UN Secretary General Antonio Guterres, President of New Development Bank Dilma Rousseff, and Asian Infrastructure Investment Bank Chief Zou Jiayi have also reached the capital for the summit.
