Prime Minister Narendra Modi on Friday called for secure sea lanes, open supply routes and the safety of seafarers to sustain global trade, while urging BRICS countries to work towards removing trade barriers and expanding opportunities for businesses.
Addressing the BRICS Business Forum 2026 in New Delhi, PM Modi said India was a strong advocate of freedom of navigation and the safety of seafarers, stressing that secure maritime routes were essential for the smooth movement of global trade.
“Global trade can move forward only when sea lanes are secure, supply routes remain open, and seafarers are safe,” PM Modi said.
BRICS accounts for 50% of global population
PM Modi noted that BRICS is celebrating 20 years this year. The grouping, which began with four countries in 2006, has expanded into a family of 21 BRICS and partner countries.
The Prime Minister said BRICS countries now represent 50 per cent of the world’s population, 40 per cent of global GDP and more than 25 per cent of global trade.
He said that while global GDP has grown by around 2.5 times over the past two decades, the combined GDP of BRICS countries has increased by around 4.5 times, indicating that the bloc’s economic strength has grown at nearly twice the pace of the world economy.
PM Modi also described BRICS countries as emerging centres of global innovation and solutions, with new possibilities taking shape from grassroots initiatives to frontier technologies.
He said the forum being hosted by India was the largest-ever BRICS Business Forum.
India focuses on resilience, strategic capabilities
The Prime Minister said the theme of India’s BRICS Presidency – “Building for Resilience, Innovation, Cooperation and Sustainability” – reflected the country’s economic and trade policy.
He said India had made its supply chains more diversified and reliable across sectors ranging from energy to technology, enabling the country to maintain growth and stability amid global uncertainties.
India is rapidly expanding its roads, railways, ports and airports, while building new capabilities in strategic sectors including shipbuilding, semiconductors, quantum technology, critical minerals and biotechnology.
“These sectors, India is emerging as a hub of new opportunities for global businesses,” PM Modi said, reiterating the message: “Make in India, Innovate with India, and Scale for the World.”
India’s startup ecosystem highlighted
PM Modi said India is witnessing a startup revolution, with more than 2 lakh startups and over 120 unicorns, positioning the country as a hub for global solutions.
He invited BRICS partners to explore the opportunities emerging from India’s innovation ecosystem, including through the BRICS Bharat Innovates Expo.
Indian startups, he said, are using artificial intelligence to transform education and healthcare, while developing solutions in green hydrogen, batteries, defence and space.
The Prime Minister called for taking these innovations to global markets through BRICS cooperation.
UPI showcases ‘innovation at population scale’
Highlighting another feature of India’s innovation story, PM Modi spoke of “Innovation at Population Scale”, citing the Unified Payments Interface (UPI) as an example.
He said UPI has accelerated financial inclusion and digital transactions at population scale, with the technology powering 50 per cent of the world’s real-time payments.
India has created an open ecosystem for industry and startups to build new solutions on this digital infrastructure, PM Modi said, adding that many countries are adopting the Indian model.
He invited innovators from BRICS countries to draw on India’s experience and develop solutions tailored to their respective markets.
PM Modi calls for reducing trade barriers
Amid rising trade barriers globally, PM Modi said India was seeking to build economic bridges.
He said India has entered into Free Trade Agreements with nearly 40 countries since 2014, and stressed that its approach within BRICS was similarly focused on reducing barriers and expanding opportunities for businesses.
Under India’s BRICS Presidency, new cooperation networks have been established in areas including agriculture, healthcare, skills and smart grids.
The Prime Minister also highlighted initiatives such as the BRICS Incubator Network, BRICS MSME Portal and BRICS Startup Innovation Fund, aimed at connecting startups and small and medium enterprises with markets and finance.
He called for greater exchanges of investment and talent among BRICS countries through these cooperation frameworks.
Focus on women entrepreneurs and maritime security
PM Modi also highlighted the BRICS Women’s Business Alliance, saying women entrepreneurs should lead the growth story.
He noted that nearly 200 women business leaders participated in the Alliance’s meeting held in India.
On maritime trade, the Prime Minister reiterated India’s support for freedom of navigation and the safety of seafarers, linking secure maritime routes with the continued expansion of global commerce.
PM Modi proposes three benchmarks for BRICS businesses
As BRICS enters its third decade, PM Modi urged the BRICS Business Council to adopt measurable targets for strengthening economic cooperation.
He proposed preparing a report on removing the top 10 trade barriers among BRICS countries, supporting 100 BRICS startups every year to scale into other BRICS markets, and developing 1,000 new business partnerships among member countries.
He called for annual reviews of progress against these three benchmarks.
“Let us transform BRICS’ ambition into action and our collective strength into global solutions,” PM Modi said, adding that BRICS should move forward and help the world move forward as well.
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