Prime Minister Narendra Modi, addressing the BRICS Business Forum in New Delhi on September 11, 2026, highlighted rising trade barriers and disruptions to strategic sea trade routes. He noted that India was working to overcome these challenges by building bridges and leveraging its BRICS presidency to establish new cooperation networks among member nations.
Russian President Vladimir Putin observed that the leading economic powers of the late 20th century were being replaced by emerging economies. He warned that competition between major powers was taking "ugly forms," including military attacks and threats of secondary sanctions.
Iranian President Masoud Pezeshkian called for reducing the dominance of a few currencies in international trade and advocated for a more diversified trading system.
Overall, the forum emphasized BRICS’ push for stronger economic cooperation, more resilient trade networks, and a less concentrated global trading system amid growing geopolitical and economic tensions.
