PM Modi Highlights Brics Economic Growth and Trade Expansion at Business Forum Prime Minister Narendra Modi addressed the Brics Business Forum on Friday, emphasizing the bloc’s significant economic growth and calling for reduced trade barriers to foster global commerce. He noted that Brics nations now account for 50% of the world’s population, 40% of global GDP, and 25% of international trade, with their collective economic strength expanding at nearly double the rate of the global economy since the bloc’s formation in 2006. Modi highlighted the importance of secure trade routes, particularly in light of disruptions in critical maritime passages like the Strait of Hormuz and the Bab al-Mandab Strait, and reaffirmed India’s commitment to freedom of navigation and seafarer safety. Modi’s remarks contrasted with the perspectives of Russian President Vladimir Putin and Iranian President Masoud Pezeshkian, who, while acknowledging Brics’ growing economic influence, expressed frustration over Western sanctions and geopolitical dominance. Putin noted that Brics countries now contribute over 40% of global GDP, compared to the Group of Seven’s 29%, and criticized the West’s continued sway over global affairs. Modi, however, stressed the need for Brics to focus on internal economic collaboration rather than forming an anti-Western bloc. He emphasized India’s efforts to reduce trade barriers and increase business opportunities, positioning Brics as a platform for innovation and resilience. The PM’s call for intra-Brics trade was framed as a response to rising protectionism, particularly targeting U.S. tariffs under President Donald Trump and China’s restrictions on Indian goods.#strait_of_hormuz #prime_minister_narendra_modi #bab_al_mandab_strait #brics_business_forum #brics_nations
