Friday, September 11, 2026

BRICS Summit in Delhi is 'more than' just that :::: Hidden but more powerful message is Trust in the US is eroding :::: Unipolar world order that Bush boasted of in 1991 has collapsed !!

 Iranian President Masoud Pezeshkian in his speech at the BRICS Business Forum called on the BRICS members on Friday to expand the use of national currencies in trade, strengthen financial cooperation. 


This by itself shows the 18th BRICS Summit in Delhi is 'more than' just that ... without telling in as many words. Countries are now simply questioning the rules of a game long rigged in Washington’s favour vis-a-vis Dollar. The refrain is now clear - De-dollarisation is not a threat to global stability. 


The hidden but more powerful message is that the Trust in the US is eroding.  







As he has been ambitious always for 'glories'; Indian Prime Minister Narendra Modi may achieve something big at the end of the Summit.

'BRICS' is changed from it was. There is a subtler and more strategic ambition but seemingly feasible.


The challenge from Iran is significant. Russia president Vladimir Putin has broad-based it by making a veiled criticism of G-7.  

More and more countries would not mind to insulate themselves from America's gravitational structures, restrictions and pull.


At the same time, the BRICS - now 11 full-fledged  members and also the rest are also marching a head to build a joint hi-tech industrial base.  


"Economic security is not separate from national and regional security. Whenever a country's trade, energy, infrastructure, or financial system comes under political-military pressure, its effects transcend that country's borders and impact the region and even the global economy," the Iranian president was clear and assertive.  








Some of the problems in real sense have been created by the US.


Trump slapped tariffs on Brazil over its internal politics. This angered the rest of the world. Washington preferred to turn 'economic diplomacy' into personal vendetta. This meant how the rules-based order has been unravelling.  


The postwar order since the middle of the last century stood on three pillars: 

Open Trade, US dominance and hydrocarbons.


All three are cracking. From 2025 itself; BRICS has already surpassed the G7 in terms of purchasing power parity - amplifying its demands for a more fairly balanced global financial system. 


Take a closer view and one can understand that -- weaponisation of the dollar has backfired on the US. 


Other nations including Indonesia, South Africa, Brazil and of course even China, Iran and India are displaying the resilient and the killer instinct to reclaim their sovereignty. 


They also want to make it clear that -- the Economic resilience is not possible without diversification of trade partners, financing sources, and payment mechanisms.  


“China stands ready to work with India... by strengthening communication, enhancing cooperation, and properly handling differences,” said Beijing’s foreign ministry spokesperson Mao Ning. 

In some ways, the strategic rivalry and the deep mistrust of the past may be set aside.  







India maintains cordial relations with Iran and also Israel, but has to strike a delicate balance with the Trump-led administration. 








So far, India has navigated the energy crisis sparked by the US-Iran war and Russia-Ukraine conflict. 


Meanwhile, BRICS finance ministers and central bank governors have issued a statement calling for reform of global developmental financial institutions such as the International Monetary Fund and World Bank.

In other words, they are seeking a stronger voice for emerging market economies.  


BRICS Delhi under the stewardship of PM Modi and ably supported by China, Iran and Russia can give a clearer missive that the unipolar new world order that George Bush boasted of in 1991 at the end of the first Gulf War has collapsed.  Trump may not realise this. 

Foundation of a 'neoliberal utopia' may be laid in Delhi. 






ends  


Xi Jinping in India India after 7 years :: If China and India can work together, impact will extend far beyond ... and help Global South


Donald Trump being the spoil sport, India realises the power of BRICS, RIC and more importantly - the prowess of  India-China ties. In all these Naendra Modi-Xi Jinping friendship and a good working rapport will matter much.


The two countries share ancient civilizations and, in many ways, understand each other better. 


People are expecting a "positive outcome" between China and India during the summit. 




  


Between the two, India has strengths in software and a large pool of young talent while China possesses strong hardware capabilities.


The India-China cooperation is important not only for bilateral relations but also for the Global South and the world as a whole. 


It's more simplistic but with ramifications and challenges. If China and India can work together under Modi and Xi -- both hardliners - the impact will extend far beyond the larger Asian context.  One need not be a foreign policy expert to find out what adverse fallout Trump has left.  


The unpredictable Tariffs and the war in Iran directed at both US adversaries and 'friends'  have destabilised global energy markets. The 18th BRICS Summit in New Delhi could in a mild manner set the ball rolling for 'light or soft isolation' of the United States.


The US is certainly not a member of BRICS; yet President Donald Trump's shadow looms large - even as India's foreign minister has clarified that BRICS is "non-west" and not necessarily anti-West. Of course, Diplomacy teaches these art. 


For Quad -- comprising India, the US, Japan and Australia -  the forum is stated to be not anti-China. PM Modi once said -- it's not anti-one.


Leaders from 11 Brics nations - including host India, China, Russia, Brazil, South Africa, the UAE and Iran, with Saudi Arabia attending as an invited member. There are ifs and buts.  


Russia and Iran may push for the BRICS to take a clearer and stromnger stand against President Trump; Putin indicated so with his criticism of G-7. 


"India cannot afford to have a joint statement that rails against Washington," Michael Kugelman, a senior fellow at the Atlantic Council, told the BBC. He expects any criticism of US policies to be "vague and indirect", reflecting the sharply divergent interests within the expanded group.





2019 - Howdy Modi show 




On the other hand; India views the Chinese president Xi's visit and participation at the BRICS a very good opportunity to push for better ties. 

Bilateral meetings between Xi and PM Modi is on cards.


Notably, the recent 25th Round of Talks Between the Special Representatives of China and India on the Boundary Question, held in Beijing on August 25, produced an 8-point consensus that both sides have described as a positive signal.


 Chinese President Xi Jinping is visiting New Delhi  marking his first trip to the country in nearly seven years. Last time he came to India was in 2019 and for Informal Summit with Modi in Mamallapuram (Mahabalipuram).








ends 

Manipur will continue to be the 'Hotbed' of Naga insurgency !! :::: None is sure which way (or the political party) will the Eastern Flank support 'wave' blow

At times some pale eyes seemed to see more than any other eyes. 


I interacted with my 'friend' during July trip to Manipur. I am unable to disclose much about him. He talks softly. 


But his words carry carry surprising force - empowered by quick mind and intellect.  


He told me - "Do not fall in love with Manipur ... we are heading for much bigger troubles".  At this juncture - it is not advisable to share much about him. 


He could be an 'Indian' (as is understood in north east); or a Kuki, a Naga or a Meitei. 


The identity does not matter. What matters is his words -- "Manipur will continue to be the 'Hotbed' of insurgency ... in addition to ethnic conflicts and even religious rivalry". 




Road to Profitability and Insurgency : Timer trade  



I said - "You must be indicating about Naga insurgency".  


He skirted a direct reply. Perhaps; I understood; and left the matters at that. Back in country's capital and analysing last few weeks developments; I have no doubt that things have already changed a lot in Manipur. 


Gradually 'radicalism' has been let loose. And there are "such elements" getting into civil society bodies. They give the message of being anti-Delhi; but they could be 'anti-India' in strictest sense of the term. 


In fact, in the Naga hills of Manipur -- one topic that is being whispered around is the split in the NSCN-IM. 


"It is a classic case of things getting 'derailed' due to 'mishandling," -- is one refrain I got during visit to Phaikoh village along the Myanmar border. The real tension is in Kamjong district and not much in Senapati or Ukhrul region.


Understandably, Ukhrul has 'more hardline structures' than Senapati -- I was told - and Kamjong district has more such protagonists than in Ukhrul.  


The security forces are finding 'tracking' this new transition-regime quite challenging. 


Timber business and money flow for the  last three years have made things more complex. 



Blogger in North East India 



No insurgency can survive without oxygen of cash flow; and this is being ensured by 'green large and strong' trees and timer business vis-a-vis Myanmar hamlets and 'no man's jungles'.  


New Delhi is now convinced that many state apparatus have nexus with the Eastern Flank faction of the NSCN-IM. The 'split' might have weakened Hebron; but much to the chagrin of some agencies -- this episode has further complicated the rules of the militancy-games in Manipur.  


H S Ramsan (also called Hanshi or 'Hangshi Tangkhul') is a former senior commander and now the 'effective' leader of the Myanmar-based Eastern Flank. In short -- he is a tough nut; and in further shorter version - he may throw up miserable times to all stakeholders -- Indian security forces and also the rival-militant bros. 


The Eastern Flank at times is also 'rejoicing' the perception that from pro-Hebron Kohima; the 'polity'  has graduated to "pro-Kohima Hebron". That means - Kohima protagonists too might have played some roles (albeit indirectly) to displease Hangshi and his compatriots.  


Hence .... 

The Game will slowly shift to electoral politics because in Manipur - it's in March 2027 while elections in Nagaland are due by March 2028.  


New Delhi along with many small and regional parties in Nagaland and Manipur now believe that Hebron-NPF bonhomie is at its peak; -- demonstration wise or  even at the 'saturation' stage.

This was further proved by V S Atem's statement that 'the Union MoS Home led panel' is "our idea".


Thus; as of now -- none is sure which way (or the political party) will the Eastern Flank support 'wave' blow. 


Will it be Cock friendly at all ? 








All eyes are slowly moving towards three civil society organisations in Manipur. One is - the United Naga Council, 

the All Naga Students' Association, Manipur and the Naga Women's Union of Manipur. 


The government agencies will be keen to enlist their 'support' to that peace and harmony is maintained and there is no major possibilities of street violence and chaos. In the past, in general the civil societies have cooperated with the official apparatus.  


However, in the entire bargain - by March 2027 - the electoral battle of Manipur may make 'Hebron-Kohima politics' almost irrelevant. If the NPF cannot win five out of 10 Naga seats - the Lotus party will not hesitate to open channels with other Naga Independent MLAs or legislators from other parties.  


In Naga areas, the Congress party is expected to do well -- with or without support from the state unit in Imphal. 









There are other elements.  Sometimes - we may witness turf war between factions both in Manipur and Nagaland.  The perceived battle for the 'Nagalim' (united Nagas under one umbrella) may take turns and twists. 


New Delhi  is already expecting 'back push' after FNTA because Nagas of Arunachal Pradesh and Manipur will take a rather jaundiced view of things -- what happened with them since 2019. The civil 'Naga population' in Manipur and Arunachal Pradesh may also throw up questions for the NPF-BJP dispensation in Kohima. 


This apprehension has alerted the BJP and perhaps also the Sanghparivar.  


'Why was the Naga Solution delayed' must have appeared prominently in recent RSS deliberations with stakeholders and key leaders from the northeast. 


The argument  over 'pro-Kohima Hebron' is already a catchword of the Eastern Flank and this is another area -- the BJP is uncomfortable.  


In 2024 - leaders of Eastern Flank had disapproved the firing in one of the Congress campaign and the plea was -- everyone has the right to fight election. 


The NPF nominee    Timothy Zimik  ultimately lost the election to Congress candidate Alfred Arthur. Kohima sought to attribute the defeat to Hindutva politics of the BJP; but central agencies believe the reason was something else.  


In the context of Manipur -- we will have three stages of  contest and issues -- armed insurgency, -- 

-- Civil society politics and electoral battle. 


In all three - the central Govt will have to be cautious about the role that would unfold from the Eastern Flank. 








Assam Rifles carried out a critical relief operation in Thambalkhong Leirak, Wangkhei of Imphal East district, June 2025  



ends   


Debate over newsroom culture, political loyalties and journalistic ethics and independence ::: Who made things Toxic ? :::: "A journalist’s job is never to ensure that a preferred politician wins"

Social media has fragmented audiences. 

Television has become increasingly polarised.

Media Ethics? What's that ? 

Debate over newsroom culture, 

political loyalties and journalistic independence.  


The media landscape has changed dramatically since 2013.



Prime Minister Narendra Modi’s visit to Shri Ram College of Commerce (SRCC) in Delhi and his reference to his 2013 address at the same venue brought back memories of a very different political and media landscape.


 Politics and political speeches are made, covered and sometimes “uncovered”. But there is another question worth asking: 


What happened to the  journalism of that era, and when did the working atmosphere in some newsrooms become toxic?


Modi delivered an impressive speech at SRCC and recalled the impact of his 2013 address.




2013 : SRCC, Delhi 



As a writer of this piece, I want to revisit that period and debate what I believe was the beginning of a process of decline in sections of Indian journalism.


Modi had arrived in Delhi after winning his third consecutive election in Gujarat in December 2012. At the time, he was still the chief minister of Gujarat, and a major political debate was underway over whether the BJP should project him as its prime ministerial candidate for the 2014 Lok Sabha elections.


Within the BJP, L.K. Advani and some senior leaders, including the late Sushma Swaraj, were opposed to such a move. Nitish Kumar was also an influential NDA leader and, despite efforts by Arun Jaitley to persuade him to support Modi, the Bihar chief minister had made his reservations clear.Journalism & News Industry


Against that backdrop, Modi’s SRCC speech had an extraordinary political impact.


“Especially people are remembering my 2013 address (at the same venue). People have listened to it again, read it again. It is possible that the new generation has also revisited it. That speech, I can say, became a wave, a movement. 


And even today, 13–14 years later, the impact of that gathering, that address, remains,” the Prime Minister said.   


The 2013 Media Debate


The next day, 'The Hindu' did not give Modi’s speech the prominence that some expected. Its story focussed on a lathi charge and clashes involving Left-leaning students who had gathered near the college campus and raised slogans against Modi.


The editorial decision triggered considerable discussion at the time.


The then-editor, Siddharth Varadarajan, defended the decision on social media, arguing that the publication should not simply follow what he described as the media herd. The newspaper’s position was that several other stories on the front page were more newsworthy than a speech by a chief minister at a Delhi college.


The argument was essentially this: a chief minister visiting Delhi and addressing college students was not, by itself, sufficient reason to make the speech a front-page lead.


That is a legitimate editorial argument.


But journalism is also about recognising political significance before history confirms it. The question, therefore, is not merely whether Modi’s speech deserved Page 1 treatment.  


It is whether sections of the media had already begun viewing Modi through a political lens that influenced editorial judgement.








'The Statesman' also holds the distinction of not allowing blogger (only journalist who had served in Kohima) not to write on Naga Agreement signed on Aug 3, 2015 even after I offered to do so.  



Another publication, the Mumbai-based Mid-Day, also chose not to put Modi’s speech on its front page.


Its then-editor, Sachin Kalbag, explained the decision in comments to Firstpost, arguing that putting Modi on Page 1 would have required assumptions that he would become the NDA’s prime ministerial candidate and subsequently become prime minister.  


His argument was that chief ministers make speeches regularly and that the newspaper did not ordinarily give such speeches front-page treatment.


Again, this was an editorial choice. But history subsequently gave that 2013 speech a significance that few could ignore.  



First Person - Experience



I was working with 'The Statesman' at the time as Special Representative - equivalent to Special Correspondent.


After Modi’s speech, I went to the newspaper’s city office on Barakhamba Road and filed a report. 


I do not remember every detail of the context now, but I recall mentioning Dr. Murli Manohar Joshi in the copy. Further down the page, I had referred to him simply as “Joshi”.


When the copy reached Resident Editor Usha Mahadevan, she objected strongly. She called me and asked, in substance, 'which Joshi' I was referring to and told me that I should have made the reference clearer.


I was surprised because she had generally been one of the fine senior colleagues I had worked with.


At the time, however, I felt that the newsroom environment was changing. I believed that some colleagues’ political preferences were beginning to influence the atmosphere and, in some cases, editorial discussions.  


One colleague (now one can feels ashamed of ever associating with) 

in particular was "perceived by several of us" as being strongly aligned with Congress party and senior Congress leaders - including the likes of Janardhan Dwivedi (who handled media).


His political preferences were often visible in his work, or at least that was how some of us interpreted them.


The day, vote count was done in 2014 - he (despite being a journalist) said it was a Black Day for India. 'Prejudiced'  was/is a small word !!


I remember occasions when political affiliations appeared to influence newsroom debates. I also remember stories that, in my view, were treated differently depending on the political figure involved. 


He would blackout stories such as Smriti Irani criticising Rahul Gandhi.  


When Ram Vilas Paswan criticised Ahmed Patel in 2009 over the alliance setback involving the Lok Janshakti Party and the Congress, a story I filed on the issue was not published.


Similarly, stories involving criticism of Rahul Gandhi were, on occasions, subjected to editorial scrutiny that I believed was excessive.


These are my recollections of that period. They are important because 'every editorial decision' appeared as 'reflected political bias'.


They also demonstrate how journalists themselves began to perceive the changing newsroom environment.  







Digital platforms have weakened the traditional gatekeeping power of  newspapers. Political communication has become faster, more direct and more aggressive.Newspapers


Yet the fundamental responsibility of journalism remains unchanged. Independence is not the same as opposition to the government. Professionalism is not the same as loyalty to the government.


And journalistic objectivity does not require journalists to abandon their personal beliefs; it requires them not to allow those beliefs to determine what becomes news and how it is presented.


Modi’s return to SRCC therefore offers an opportunity to look beyond the speech itself.  The real question is not whether one newspaper covered the 2013 address adequately or whether another ignored it.


The real question is whether Indian journalism gradually lost the ability to separate political preference from professional judgement.


And if it did, when did that happen—and who allowed newsroom culture to become toxic?


Oscar Wilde is often credited with the line: “Journalism is unreadable, and literature is not read.”

What's the real test ?


Perhaps the more relevant challenge today is different. Journalism must remain readable, credible and independent—even when the journalist dislikes the politician being covered. 



ends 





When Prediction turned Prophetic 


One colleague, now working in Himachal Pradesh, once asked me why I looked so angry. Perhaps my face gave away my frustration.


I remember saying that Modi’s SRCC speech had been politically significant and that it appeared to have unsettled sections of what I regarded at the time as an excessively ideological media ecosystem.


I also made a prediction: If Modi became prime minister, I would eventually have to leave the newspaper.


It turned out to be prophetic. Modi became Prime Minister of India in May 2014. 


In the final week of November 2015, I was almost compelled to put in my papers.


By then, what I had experienced as a growing sense of toxicity had reached another level.



Saturday meetings sometimes resembled political war rooms. 


Editorial disagreements were increasingly coloured by political perceptions. 


And some of us found it difficult to accept lectures on journalistic ethics from someone whose own political preferences appeared, at least to us, to be reflected repeatedly in their work.


Gradually, several of us (colleagues) quit 'The Statesman'. 




A Defence ministry exhibition of 1965 war - 2015 - Delhi 



Was This the Beginning of the Problem?


Whenever the debate over Indian  journalism arises today, the conversation often begins with the Narendra Modi government.


Critics argue that the Modi era has damaged media freedom and created pressure on journalists. There are legitimate questions to be asked about media ownership, government pressure, corporate influence and the independence of journalism.  



But there is another side of the story. Political polarisation in Indian journalism did not begin in 2014.  Sections of the media had their own ideological preferences long before Modi became prime minister.


There were journalists who openly admired Congress leaders. 


There were others who were deeply sympathetic to regional political leaders. There were also journalists who viewed Modi with hostility from the beginning.


None of this means that every journalist belonging to a particular political persuasion was biased. But very few.


Nor does it justify the excesses of the present-day television ecosystem, where partisan journalism can sometimes become indistinguishable from political campaigning.


But intellectual honesty requires us to acknowledge that the problem predates the Modi government.  



There were also political figures who enjoyed considerable goodwill among sections of Delhi’s journalistic community. Mamata Banerjee was one such figure among some anti-Modi journalists. Many saw her as a possible prime ministerial alternative.


Political fortunes, however, change quickly or slowly --- bu certainly.


The electoral setbacks suffered by political leaders can also expose the limitations of a media ecosystem that becomes too emotionally invested in particular political outcomes. 

West Bengal mandate of 2026 left many people shell-shocked.  


This is where journalism needs distance. A journalist’s job is never to ensure that a preferred politician wins.


It is not to ensure that a disliked politician loses.


It is to report, question, investigate and analyse. The same principle applies to television anchors and commentators. I am certainly not defending the excesses of pro-Modi television journalism. There has been plenty of partisan journalism on the other side as well.


The point is simply that political partisanship did not suddenly enter Indian journalism after 2014.  


Journalism Needs a Mirror


Congress leader Jairam Ramesh also had a considerable following among sections of Delhi’s journalistic community because of his accessibility and engagement with reporters.


I covered him for a long period when he was rural development minister, although I never became part of his circle.  



There were also controversies surrounding some of his remarks and statements, and some journalists objected strongly to them. I remember one exchange in which, following a disagreement over a comment concerning temples and toilets, he asked me whether I was a Brahmin or belonged to an upper caste.


For me, the larger issue was not the personal exchange.  It was the uncomfortable intersection of politics, identity and journalism.


Journalists should be able to question politicians without being categorised according to their presumed social or political identities.


Likewise, politicians should be able to face criticism without assuming that every critical journalist belongs to an opposing ideological camp.



ends 




If headline does not follow him; Namo knows how to get it there !! ::: Modi holds Iranian President's hand ... India has kept channels open with Iran and Russia while maintaining ties with US

 PM Modi holds Pezeshkian's hand in striking moment at BRICS Business Forum summit


The photograph summed up New Delhi's diplomatic approach: India at the centre, engaging Iran and Russia while keeping space open for dialogue and cooperation in an increasingly fractured world.  












PM Modi's striking show of India’s diplomatic outreach at the BRICS summit

Modi has pressed for dialogue, protection of civilians and commercial shipping  


One Picture ...Multiple messages 


The photograph summed up New Delhi's diplomatic approach: 


New Delhi engaging in positive dimension with Iran and Russia but also  keeping channels open for dialogue, trade and cooperation in an increasingly fractured world.  


Prime Minister Narendra Modi was in jovial mood. That could be anytime; but he was seen holding hands with Iranian President Masoud Pezeshkian.

Two key BRICS members -- Russian President Vladimir Putin and South African President Cyril Ramaphosa were alongside. 

The image stood out because of its timing and the 'communicator' being Narendra Modi.


Iran is now at the centre of a conflict that has disrupted energy supplies and maritime trade and at the same time; Russia remains under sweeping Western sanctions over the Ukraine war.  










Earlier in the day, Russian President Vladimir Putin took a pointed swipe at the Group of Seven (G7), arguing that its economic weight has declined significantly while the BRICS grouping has emerged as an increasingly important force.

Speaking at the BRICS Business Summit 2026 in New Delhi, Putin contrasted the economic strength of the two groupings and questioned the continuing relevance of the G7 in a rapidly changing global order.


Putin said G7 countries now account for about 18% of global economic output, while BRICS members account for nearly 40%, underscoring what Moscow sees as the growing economic influence of emerging powers.   


India's approach vis-a-vis strategic autonomy was evident in PM Modi’s bilateral meeting with Iranian president Pezeshkian too.


Modi called for an end to the hostilities through dialogue and diplomacy. He also stressed that civilians, commercial vessels and seafarers must be protected and that freedom of navigation and commerce must not be disrupted.


PM Modi struck a similar note during his separate meeting with Putin. The two leaders discussed defence, energy, trade and strategic cooperation, while he reiterated India’s call for a peaceful resolution to the Ukraine conflict.   


The Prime Minister held key bilateral talks with Russian President Vladimir Putin ahead of the two-day BRICS Summit.


During their meeting, PM Modi gifted Putin a Russian translation of the ancient Tamil text Thirukkural. 


The two leaders discussed India-Russia cooperation, with trade, defence and industrial ties among the key areas on the agenda. After Putin, 










The BRICS 2026 Summit will begin on Saturday and will focus on strengthening collective resilience in areas including food, energy, health, disaster management and critical supply chains. 



New Delhi has consistently maintained that it is not passively neutral but stands on the side of peace. At the same time, it has avoided being drawn into rival geopolitical camps and continued to engage countries on opposing sides.


ends 

G-7 has lost Relevance -- suggests none other than Russian President Vladimir Putin ::: Russia was a member G-8 but was expelled in 2014

 Russian President Vladimir Putin took a swipe at the Group of Seven (G7) on Friday, contrasting its declining share of the global economy with BRICS’ growing economic weight.



Addressing the BRICS Business Summit 2026 in New Delhi, Putin said G7 countries accounted for about 18% of global economic output, compared with nearly 40% for BRICS members.

“I don’t know why they call them that,” Putin remarked, questioning the grouping’s continued relevance.  







The G7's share of global gross domestic product (GDP) is declining relative to emerging economies, dropping from over 50% decades ago to roughly 30%–44% depending on nominal or 

purchasing, power parity metrics.


Russia was a member of what was then the G8 until it was expelled following its annexation of Crimea in 2014. 

The grouping subsequently reverted to the G7.  

The Russian president also accused Western nations of repeatedly trying to undermine BRICS countries.


“Western competitors of BRICS are trying to regain their former leadership, and this struggle is taking an unseemly turn at the governmental level,” Putin said. Putin accused Western countries of imposing unfair sanctions on Russia and said Moscow had maintained its economic performance despite the restrictions.


Putin described BRICS as the world’s largest economic bloc and said its members were gaining strength and influence as the global order changed.


Highlighting India’s growing contribution to the global economy, Putin said the world was undergoing a major economic shift. 


The BRICS remained open to cooperation with countries outside the grouping, he added.   


Expanded blocs like BRICS have surpassed the G7 in the purchasing power parity -adjusted economic output, 

reaching roughly $77 trillion to $88 trillion compared to the G7's lower relative output share. 


The US has maintained steady post-pandemic growth.

But other G7 members -  Japan and European nations have experienced sluggish trajectories or contractions in real per-capita terms. 


Most G7 countries have seen manufacturing's share of GDP steadily decrease as global industrial weight shifts toward developing nations




Modi shares Guru Mantra ::: BRICS accounts for 40% of the global GDP, says PM Modi ::: "freedom of navigation and safety of seafarers are critical to global economy"

 BRICS accounts for 40% of the global GDP, says PM Modi


In his address at Business Forum , PM Narendra Modi said, "BRICS nations now account for 50% of the world’s population, 40% of global GDP and over 25% of global trade, with their combined GDP growing nearly twice as fast."  






He said - BRICS nations are emerging as global innovation hubs, driving solutions from grassroots initiatives to frontier technologies. 

India is hosting the largest-ever BRICS Business Forum, reflecting the bloc’s growing scale.  


The Prime Minister stressed that freedom of navigation and the safety of seafarers are critical to the global economy, delivering a strong message on maritime security while addressing the BRICS Business Forum.  


"Global trade progress is possible only when sea lanes are secure, supply routes remain open, and seafarers are safe. That is why India is a staunch supporter of freedom of navigation and the safety of seafarers."


"The BRICS Women’s Business Alliance is also a key part of our vision. 

We want women entrepreneurs to lead our growth story. We are delighted that around 200 women business leaders participated in the meeting of this alliance held in India."  



At Leaders' Session of BRICS Business Forum, PM Narendra Modi says, "Today, while trade barriers are rising globally, India is building economic bridges. Since 2014, we have entered into free trade agreements with nearly 40 countries."






"Our approach remains focused on reducing barriers and expanding opportunities for businesses. 


That is why, under our BRICS presidency, we have established new cooperation networks in sectors such as agriculture, health, skills, and smart grids. 


To connect startups and MSMEs with markets and finance, we have launched initiatives like 

-- the BRICS Incubator Network, 

the BRICS MSME Portal, and 

the BRICS Startup Innovation Fund. 


You can all leverage these cooperation frameworks to enhance the exchange of investment and talent among our nations."  


"The theme of India’s BRICS chairmanship is 'Building for Resilience, Innovation, Cooperation, and Sustainability.' Over the past 12 years, India has made this mantra the foundation of its economic and trade policies."


"Regarding resilience, India has made supply chains spanning sectors from energy to technology more diversified and reliable. 


"It is a result of this resilience that, even amidst global uncertainties, India today offers the assurance of growth and stability," he said almost liking sharing the Mantra for the season of Indian economy and its growth structure. 


"We are rapidly expanding our roads, railways, ports, and airports. Simultaneously, we are building new capabilities in strategic sectors such as shipbuilding, semiconductors, quantum technology, critical minerals, and biotechnology...


"India’s Unified Payments Interface (UPI) has given fresh momentum to financial inclusion and digital transactions on a massive scale. Today, 50% of the world's real-time payments take place using this technology."   


BRICS nations eye cross-border payments, local currency trade 


“Pragmatic” and “efficient” solutions to make payments across borders were discussed by the BRICS nations.

A joint statement issued by the finance ministers and central bank chiefs of the BRICS called for the promotion of their local currencies to settle trade and make investments.


Union Commerce Minister Piyush Goyal urged the BRICS member and partner countries to link payment systems and trade in each other’s currencies. 


There is “immense potential to deepen cooperation” and that trade amongst partners should be deep and resilient with diversified supply chains, Goyal said.


“…we acknowledge the work done to study the cross-border interoperability of payment and messaging channels, and the discussions on promoting trade settlements and investments using BRICS local currencies ..

.... while respecting national priorities and acknowledging that there is no one-size-fits-all approach,” said the joint statement issued on Friday ahead of the two-day BRICS Leaders’ Summit. 

ends 


BRICS Summit in Delhi is 'more than' just that :::: Hidden but more powerful message is Trust in the US is eroding :::: Unipolar world order that Bush boasted of in 1991 has collapsed !!

 Iranian President Masoud Pezeshkian in his speech at the BRICS Business Forum called on the BRICS members on Friday to expand the use of na...