“Global trade progress is possible only when sea lanes are secure, supply routes remain open

“Global trade progress is possible only when sea lanes are secure, supply routes remain open

During the Leaders’ Session of the BRICS Business Forum on Friday, Prime Minister Narendra Modi highlighted the critical issue of seafarers’ safety. He underscored the importance of maintaining secure sea lanes, reiterating India’s commitment to the principles of freedom of navigation and the protection of maritime workers.

“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 remarks come in the backdrop of the West Asia conflict that hit fuel supplies through the Strait of Hormuz route as US and Iran continue to be at loggerheads. Track live updates on BRICS summit Modi also raised the safety of Indian seafarers in the Black Sea with Russian President Vladimir Putin as the two leaders held bilateral talks. He reiterated India’s readiness to support any peace initiative to end the Ukraine conflict even as both leaders agreed to shore up bilateral trade ties amid growing uncertainties and geopolitical upheaval.

Modi said.

“As BRICS enters its third decade, I would like to urge the BRICS Business Council: Can you prepare a report on removing the top ten trade barriers among BRICS nations? Can we forge a thousand new partnerships among our businesses? The Prime Minister also stressed the importance of secure sea lanes and supply routes for the growth of global trade. “Global trade progress is possible only when sea lanes are secure, supply routes remain open, and seafarers are safe.

India is the world’s third-largest supplier of seafarers, with more than 300,000 sailors working on ships worldwide, according to government data. Can we support 100 BRICS startups annually to scale up in other BRICS markets?

PM Modi said. That is why India is a staunch supporter of freedom of navigation and the safety of seafarers,” PM Modi said.