PM Modi Calls for Secure Sea Lanes, Safer Shipping at BRICS Business Forum
Prime Minister Narendra Modi on Friday underlined the importance of freedom of navigation and the safety of seafarers, saying secure sea routes and uninterrupted supply chains were essential for sustaining global trade.
Addressing the BRICS Business Forum in New Delhi, Modi said disruptions to maritime routes could have far-reaching consequences for businesses, economies and global supply networks.
“Global trade can move forward only when sea lanes are secure, supply routes remain open, and seafarers are safe,” the Prime Minister said, reaffirming India’s support for freedom of navigation and the protection of seafarers.
Modi-Putin Talks Focus on Maritime Safety
The issue of maritime security also featured in Modi’s meeting with Russian President Vladimir Putin. The two leaders reviewed the progress of India-Russia cooperation across political, economic, defence, energy, space, skill mobility and people-to-people ties.
They also exchanged views on major regional and global developments, including conflicts in West Asia and the Black Sea region, which have disrupted maritime trade and raised concerns over the safety of Indian seafarers.
The Prime Minister’s remarks come amid growing concerns over the safety of commercial vessels and crew members travelling through conflict-affected maritime routes.
In one recent incident, three Indian seafarers went missing after a US military strike on a tanker in the Gulf of Oman. The vessel was reportedly targeted after it failed to follow instructions, with the US alleging that it was carrying Iranian oil. The incident highlighted the risks faced by merchant vessels and their crews amid rising regional tensions.
BRICS’ Growing Role in Global Economy
Modi said BRICS countries now represent around 50 per cent of the world’s population, account for about 40 per cent of global GDP and contribute more than 25 per cent of global trade.
He noted that the combined GDP of BRICS economies had expanded nearly 4.5 times, compared with an approximately 2.5-fold increase in global GDP over the same period.
According to Modi, the figures demonstrate the bloc’s growing economic influence and its potential to contribute to solutions for challenges facing the global economy.
India Positions Itself as Global Solutions Hub
Highlighting India’s economic growth, Modi said the country was emerging as a global solutions hub, with more than 2 lakh registered startups and 120 unicorns.
At a time of global uncertainty and increasing trade barriers, he said India was working to build economic bridges and create greater confidence for investment, growth and stability.
The Prime Minister also highlighted India’s efforts to strengthen infrastructure and build resilient supply chains through investments in roads, railways, ports and airports.
He said India was simultaneously expanding capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology.
Modi Pushes for More BRICS Business Cooperation
Modi urged the BRICS Business Council to identify 10 trade barriers that could be removed to facilitate greater economic cooperation among member countries.
He also called for supporting 100 BRICS startups each year in scaling up their businesses and proposed the creation of 1,000 new business partnerships among BRICS nations.
The Prime Minister said progress on these initiatives should be reviewed annually to ensure that commitments translate into concrete results.
UPI and Digital Payments Highlighted
Speaking about India’s digital transformation, Modi highlighted the role of the Unified Payments Interface (UPI) in expanding financial inclusion and enabling large-scale digital transactions.
He said around half of the world’s real-time payments now take place through UPI, describing India’s digital payments ecosystem as an example of how technology can deliver practical solutions at scale.
Calling the gathering the largest BRICS Business Forum hosted so far, Modi urged businesses across member countries to increase investment, promote talent exchange and build stronger commercial partnerships.
He said the growing economic weight of BRICS presented an opportunity for its members to work together on practical solutions that could strengthen global trade, supply chains and economic stability.