BRICS Leaders Discuss UPI, Economic Growth, and Trade Security

Source: The Hindu Business Line | Original Published At: 2026-09-11 15:53:48 UTC

Key Points

• At the BRICS leaders' session, Indian Prime Minister Narendra Modi highlighted the Unified Payment Interface as a digital payment technology being adopted by many countries.
• Modi said 50 per cent of the world's real-time payments are on the UPI technology and described it as a boost to financial inclusion and digital transactions.
• Modi stressed the importance of secure sea lanes, open supply routes, and safety of seafarers amid disruptions in West Asia and the Strait of Hormuz.
• Russian President Vladimir Putin compared BRICS and the G7, saying BRICS produced more than 40 per cent of global GDP over the last five years versus 29 per cent for the G7.
• Putin said BRICS accounted for more than half of world economic growth over the same period, while the G7 accounted for 18 per cent.
• Iranian President Masoud Pezeshkian said economic security cannot be separated from national and regional security and called for BRICS to build resilient capacities for members and the Global South.
• The session presented a collective voice for BRICS, which the article said accounts for about 40 per cent of the world's GDP.