Industry Odisha Bureau, Sep12: PM Modi said India is building economic bridges amid rising trade barriers. He spoke at the BRICS Business Forum in New Delhi. Modi also highlighted India’s growth, startups and digital payments.
Global trade barriers are rising, Prime Minister Narendra Modi said. India, he said, is responding by building economic bridges. Modi spoke at the BRICS Business Forum in New Delhi. “Today, when trade barriers are increasing worldwide, India is building economic bridges,” he said.
India Pushes Trade Connectivity
Modi’s remarks came amid significant disruption to global trade. US tariff actions have added to that disruption. So has the conflict in West Asia, he noted. That conflict has affected a key energy shipping route. Modi cited free trade agreements covering about 40 countries. Those agreements date back to 2014, he said. He described them as part of India’s connectivity strategy.
Maritime Security Becomes Economic Issue
Modi linked secure shipping routes directly to global trade. “Sea lanes are secure, supply routes are open, and seafarers are safe,” he said. India strongly supports freedom of navigation, he added. At least 10 Indian seafarers died in the West Asia conflict. Five more died in Black Sea ship attacks. The figures came from earlier External Affairs Ministry statements.
BRICS Business Networks Expand
India’s BRICS chairship has produced new cooperation networks. These span agriculture, health, skills and smart grids. Modi highlighted the BRICS Incubator Network specifically. He also cited the BRICS MSME Portal. The BRICS Startup Innovation Fund was mentioned too. These aim to connect businesses, startups and SMEs with finance. Modi urged companies to exchange more investment and talent.
India Links Resilience With 7.8% Growth
Modi also pointed to India’s domestic economic performance. India’s economy grew 7.8% in the first quarter. He credited infrastructure spending across roads, railways, ports and airports. Modi also cited capacity building in shipbuilding and semiconductors. Quantum technology, critical minerals and biotechnology featured too. He framed these as evidence of economic resilience.
Startups and UPI Enter BRICS Strategy
Modi described a startup revolution taking place in India. He cited more than two lakh startups nationally. India now has over 120 unicorns, he said. AI, green hydrogen, batteries, defence and space featured prominently. He also highlighted India’s digital payments system, UPI. Modi said it handles half of global real-time payments. He suggested other BRICS countries could adapt this model.
BRICS Gains Economic Weight
BRICS has expanded significantly since its founding in 2006. It began with four countries and now includes 21. That includes 11 members and 10 partner countries. Modi said BRICS represents half the world’s population. He put its share of global GDP at 40%. BRICS also accounts for over 25% of global trade, he said. Global GDP grew roughly 2.5 times, Modi said. BRICS’ combined GDP grew about 4.5 times, he added.
Modi framed all this as evidence of BRICS’ growing weight. His larger message centred on economic connectivity, not conflict. Whether trade barriers ease further remains an open question. For now, India is positioning itself as a connector.
