Modi calls for removal of trade barriers, safety of seafarers at key Brics meet

Prime Minister Narendra Modi addressed the Leaders Session of the BRICS Business Forum on Friday, advocating for reduced trade barriers and improved safety for seafarers within the BRICS nations. He emphasized the importance of secure sea lanes and protected supply routes for global trade growth, particularly in light of recent attacks on merchant vessels in conflict zones, claiming that over 15 seafarers, many of Indian origin, have been killed.

Modi proposed initiatives to remove trade hurdles, support at least 100 startups in each other's markets, and foster thousands of business partnerships among BRICS nations. He also proposed creating a BRICS incubator network and a start-up innovation fund to connect startups and small businesses with markets and financial resources.

Modi highlighted India's growing economic influence, noting that the BRICS bloc's GDP has quadrupled while the world's has only doubled over the past two decades. He urged foreign investors to make India a hub for innovation and global solutions. The BRICS meeting, which took place on the eve of the summit on September 12-13, discussed the theme of Building for Resilience, Innovation, Cooperation, and Sustainability.

Russian President Vladimir Putin and Iranian President Masoud Pezeshkian also addressed the gathering, with Putin reaffirming India and Russia's deepening cooperation and Pezeshkian calling for increased trade in local currencies.