1 hr ago

Modi Meets Putin and Pezeshkian as BRICS Summit Begins

Prime Minister Narendra Modi attended a meeting of BRICS countries in India.

He said BRICS now includes 11 members and 10 partner countries.

Together, these countries represent about half of the world’s people.

Modi asked them to reduce trade barriers and help startups.

He also said ships and sailors need safe routes so world trade can continue.

Modi met Russian President Vladimir Putin to discuss cooperation in several areas.

He met Iranian President Masoud Pezeshkian while tensions around the Strait of Hormuz continued.

BRICS officials expressed concern about tariffs imposed by individual countries.

They also supported using national currencies more often for trade between BRICS members.

Key facts

BRICS composition: The bloc has 11 members and 10 partner countries.
Global economic reach: BRICS represents half of the world’s population, 40 percent of global GDP and more than 25 percent of global trade.
Modi’s trade proposal: He called for a report on removing the top 10 trade barriers and support for 100 BRICS startups.
India-Russia trade: The report estimates that around 96 percent of bilateral trade is settled in rupees and roubles.
Potential defence purchases: India is considering a Russian proposal for five more S-400 air defence systems, while Russia has reportedly offered Su-57 fighter jets.
Trade policy: BRICS finance ministers and central bank governors voiced concern about unilateral tariffs and non-tariff measures.
Currency discussions: BRICS officials encouraged discussions on using local currencies for trade and investment.

wionews.com · 1 hr ago