BRICS countries represent half the world population, says PM Modi

Prime Minister Narendra Modi noted that BRICS countries account for 50% of the world’s population, 40% of global GDP, and more than 25% of global trade. Speaking at the BRICS Business Forum, he emphasized the growing economic strength of the group and the importance of secure sea lanes for global trade.

Mr. Modi pointed out that over the years, while global GDP has increased by around two-and-a-half times, the combined GDP of BRICS countries has grown by about four-and-a-half times. "This means that the economic strength of BRICS has grown at nearly twice the pace of the world economy," he said.

He highlighted that under India’s presidency of BRICS in 2026, new cooperation networks have been established in areas such as agriculture, health, skills, and smart grids. India has also taken additional initiatives to strengthen these sectors.

The Prime Minister stressed the critical role of secure sea lanes, open supply routes, and the safety of seafarers for the advancement of global trade. "Global trade can move forward only when sea lanes are secure, supply routes remain open and seafarers are safe," he said, adding that India strongly supports freedom of navigation and the safety of seafarers.

Mr. Modi also noted the shifting dynamics of global economic leadership, explaining that the so-called old leaders of economic growth in the latter half of the 20th century are being replaced by new engines of growth. He remarked that Western competitors are doing everything to regain their former competitive edge, sometimes resorting to "ugly forms" of competition.

Since 2014, India has entered into free trade agreements with around 40 countries, reflecting its commitment to building bridges amid rising global trade barriers. The Prime Minister’s remarks underscored the growing influence and cooperation among BRICS nations in the global economy.