‘BRICS Economies Growing at Twice Global Rate’: Modi on Trade Barriers & Freedom of Navigation

Modi Highlights BRICS Economic Growth

Prime Minister Narendra Modi on Friday highlighted the growing economic significance of the BRICS grouping, saying its economies are expanding at about twice the rate of the global economy.

Addressing the BRICS Business Forum in New Delhi ahead of the 18th BRICS Summit, Modi said the grouping now represents around 50% of the world's population, about 40% of global GDP and more than 25% of global trade.

The Prime Minister said the bloc's expanding economic weight gives BRICS an important role in shaping the global economic system.

Modi Calls for Removal of Trade Barriers

A major focus of Modi's address was the need to reduce barriers that restrict trade among BRICS economies.

Modi urged the BRICS Business Council to identify the top 10 trade barriers affecting commerce between member countries and prepare a report on how they can be removed. He argued that stronger intra-BRICS trade could contribute to greater economic resilience.

The call comes at a time when rising tariffs, protectionist policies and geopolitical tensions are creating uncertainty for global businesses and supply chains.

India as an 'Economic Bridge'

Modi positioned India as an important economic bridge at a time when trade restrictions are increasing across the world.

He highlighted India's efforts to strengthen supply-chain resilience, expand infrastructure and promote digital financial inclusion. Initiatives such as UPI were cited as examples of India's expanding digital capabilities and economic connectivity.

The Prime Minister also emphasised the importance of cooperation among BRICS businesses, startups and small enterprises.

Freedom of Navigation and Maritime Security

Maritime security was another key issue highlighted by Modi.

The Prime Minister stressed that freedom of navigation and the safety of sailors are essential for the smooth functioning of international trade. Safe sea routes are particularly important because disruptions in major maritime corridors can affect energy supplies, shipping costs and global supply chains.

The issue has gained greater importance amid conflicts and tensions affecting major shipping routes and energy markets.

BRICS Seeks Stronger Economic Cooperation

The BRICS discussions come as the expanded grouping seeks to increase its influence in global economic governance.

The bloc now includes 11 full members, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the UAE. The 2026 summit is being hosted by India in New Delhi on September 12–13.

India's presidency is focused on the theme of “Building for Resilience, Innovation, Cooperation and Sustainability.”

Push for More Trade and Investment

Modi's emphasis on reducing trade barriers reflects India's broader effort to expand economic cooperation within BRICS.

Greater market access, more predictable supply chains and stronger business-to-business connections could help member economies increase trade and investment despite wider global uncertainties.

BRICS finance chiefs have also called for reforms in global development financial institutions and raised concerns over unilateral trade and financial measures that can increase pressure on emerging economies.

India’s Role in the Expanded BRICS

As the 2026 BRICS chair, India is seeking to place economic growth, innovation and practical cooperation at the centre of the grouping's agenda.

The New Delhi summit is taking place against a backdrop of geopolitical tensions, trade restrictions and disruptions to global energy and shipping networks. These challenges are increasing the importance of cooperation among emerging economies.

Conclusion

Prime Minister Narendra Modi's remarks at the BRICS Business Forum underline India's push for stronger economic cooperation among emerging economies. His call to identify and remove key trade barriers, alongside his emphasis on freedom of navigation and maritime safety, reflects the broader effort to make BRICS a more effective platform for trade and global economic cooperation.

With BRICS representing a significant share of the world's population, GDP and trade, its ability to convert economic strength into practical cooperation could become increasingly important in a changing global economy.