At the BRICS Business Forum, Prime Minister Narendra Modi called for secure sea lanes, open supply routes, and measurable BRICS trade, startup, and partnership targets.
BRICS economies account for nearly half of incremental global GDP growth over the past decade, with China and India driving much of the bloc’s expanding economic influence.
Iranian and Russian leaders spoke at the BRICS Business Forum in New Delhi, urging BRICS members to expand trade and investment, use national currencies more widely, and strengthen economic resilience against Western sanctions.
At the BRICS Business Forum, leaders emphasized economic cooperation, secure maritime trade routes, greater use of local currencies, and proposed financial mechanisms for BRICS projects.
The upcoming BRICS Summit in New Delhi will focus on local-currency trade and alternative cross-border payment mechanisms, but BRICS remains far from challenging the US dollar’s global role.
Pakistan’s formal application for BRICS membership has stalled, with India’s position identified as a key obstacle despite Pakistan’s outreach to Russia and China and its purchase of a stake in the BRICS-backed New Development Bank.
The BRICS Summit opened in New Delhi on Friday with extensive security measures at the summit venue, hotels, routes, and key sites.
At a BRICS business forum, Iranian and Russian leaders criticized Western sanctions and called for stronger economic cooperation, wider use of national currencies in trade, and deeper ties with the Global South.
At the BRICS Business Forum in New Delhi, Masoud Pezeshkian called for stronger BRICS cooperation in trade, finance, infrastructure, and local-currency payments.
