PM doubles down on friendship with Iran, seeks win-win strategy; hope mounts for BRICS declaration
Countries
Source: Times of India | Original Published At: 2026-09-11 19:07:00 UTC
Key Points
- Indian Prime Minister Narendra Modi met Iranian President Masoud Pezeshkian on the sidelines of the BRICS Business Forum and agreed to pursue a long-term, win-win India-Iran strategy.
- India expressed hope that Iran and the UAE would show flexibility on West Asia issues to enable a joint BRICS summit declaration, after earlier foreign ministers' talks failed to produce one.
- Modi said all issues related to the West Asia conflict should be resolved through dialogue and diplomacy, emphasizing regional peace, freedom of navigation, and the safety of seafarers.
- Modi thanked Iran for regular high-level participation in BRICS-related meetings and noted BRICS' potential to build resilience, innovation, cooperation, and sustainability among Global South countries.
- At the BRICS Business Forum, Pezeshkian called for expanded use of national currencies in trade among member-states, supported by mechanisms for currency-risk management and reciprocal settlement.
- Pezeshkian proposed that BRICS establish a reinsurance company with initial capital of $10 billion to cover risks in major infrastructure and energy projects and increase private-sector confidence.