"Global trade can move forward only when sea lanes are secure, supply routes remain open, and seafarers are safe. That is why India is a steadfast advocate of freedom of navigation and the safety of seafarers," he said here at the BRICS Business Forum.
With over 2 lakh registered startups and 120 unicorns, India is becoming a global solutions hub, the Prime Minister noted.
Amid global uncertainties, India is a source of confidence for growth and stability, Modi said, adding that at a time when trade barriers are rising across the world, India is building economic bridges.
He urged the BRICS Business Council to prepare a report on removing 10 trade barriers and support 100 BRICS Startups to scale up every year.
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On these parameters, we have to review progress every year, he said.
Speaking at the forum, Iranian President Masoud Pezeshkian said the world is going through a most complex period of geopolitical uncertainties.
He suggested expanding the use of national currencies in trade among BRICS members.
"In order to increase intra-BRICS trade, we must move from fragmented cooperation to gradual integration of trade infrastructure and in this regard, several measures are of particular importance, including digitalisation and integration of procedures, trade facilitation, reduction of regulatory and administrative barriers, development of cross-border markets and facilitation of joint private sector investments," he said.
