BRICS Summit 2026: PM Modi says BRICS economies grew nearly twice as fast as the world; India presidency yields over 50 outcomes

Source: Patrika News | Original Published At: 2026-09-12 02:16:25 UTC

Key Points

• Ahead of the formal start of the BRICS Summit 2026 in New Delhi, PM Narendra Modi addressed the BRICS Business Forum and called for giving new momentum to trade among member countries.
• Modi said that since BRICS was formed in 2006, the economic strength of BRICS countries grew nearly twice as fast as the world, with BRICS now representing about 50% of the global population, 40% of the world economy, and 25% of global trade.
• He said BRICS countries' combined GDP increased about 4.5 times over this period, compared with about 2.5 times for the global economy.
• Modi emphasized safe maritime routes, freedom of navigation, and the protection of seafarers as essential for global trade.
• He asked the BRICS Business Council to identify and remove the top 10 trade barriers and proposed helping 100 new startups each year expand into each other's markets and creating 1,000 new partnerships among companies.
• Russian President Vladimir Putin and Iranian President Masoud Pezeshkian expressed firm opposition to Western restrictions, with Putin saying BRICS countries' share of the global economy exceeded 40% while the G7's share fell to 29%.
• Government sources said India's BRICS presidency produced consensus on more than 50 practical outcomes, including open condemnation of terrorism, reform of global institutions, and support for India's permanent membership in the UN Security Council.