Indian Prime Minister Narendra Modi and Russian President Vladimir Putin agreed on Friday to deepen their countries’ longstanding ties, with Putin saying the BRICS grouping should build a new platform for global growth free from Western rules.
Modi and Putin held talks in the Indian capital on the eve of a BRICS summit, which Chinese President Xi Jinping and Iran’s President Masoud Pezeshkian, among others, are due to attend.
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New Delhi is engaged in a diplomatic balancing act as it tries to maintain strong ties with the U.S., Gulf Arab states, Russia, Iran and Israel, while suffering the impact of shipping and trade disruptions due to the Ukraine and Iran wars.
The BRICS bloc is seeking to raise its profile by influencing international rules and institutions, even as its members are split over the Gulf conflict with Iran and the UAE on opposite sides.
Putin’s special envoy Kirill Dmitriev told Reuters that BRICS was transitioning from a geopolitical grouping into a more practical economic partnership focused on enabling cooperation between businesses, technology companies and investors, as well as improving payment systems and joint infrastructure.
DEMAND FOR REFORM
“We have always been told that competition is a sacred cow, something that must not be touched,” Putin told a BRICS business forum event. “Yet, unfortunately, today your Western competitors are trying by any means necessary to regain their former leadership.”
“This competition is sometimes assuming unsightly forms,” he said, as Modi, Pezeshkian and South African President Cyril Ramaphosa listened. “They even include direct physical attacks or the destruction of industrial and logistical facilities, pipelines, and so forth.”
Putin said attempts were being made to block international transport corridors and seize ships, without elaborating.
“Illegal restrictions are also being imposed, accompanied by threats of so-called secondary sanctions against those who refuse to act in others’ interests and instead defend their own national interests,” he said, adding that BRICS would build “a new, sustainable platform for global growth”.
Putin’s comments echoed those of BRICS finance ministers and central bank governors, who expressed serious concerns with what they called the unilateral imposition of trade and finance-related actions, including the raising of tariffs and non-tariff measures, which distort trade and are inconsistent with WTO rules.
RESILIENT ENERGY TIES WITH INDIA
Last year, the BRICS summit drew the ire of U.S. President Donald Trump who threatened an additional 10% tariff on any countries aligning themselves with what he called the “Anti-American policies” of the BRICS group.
Washington has also threatened to impose 100% additional tariffs on countries that continue to buy Russian oil and gas, including major buyers such as India and China.
Earlier, Modi and Putin “shared perspectives on … the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers”, a statement from India’s foreign ministry said.
“The two leaders agreed to remain engaged in an effort to strengthen further the special and privileged strategic partnership between the two countries,” the foreign ministry statement said.
India, along with China, is one of the biggest buyers of Russian oil, which is seen as helping Moscow replenish its budget since it launched its full-scale invasion of Ukraine in 2022 and was hit with sweeping Western sanctions.
India has sought to resist the pressure to scale back the trade, saying its large population and economy need secure, affordable and reliable energy supplies.
India and Russia have said they want to raise bilateral trade to $100 billion by 2030 from nearly $70 billion in 2024-25.
COURTESY: Reuters
