New Delhi [India], September 11 (ANI): In a striking visual statement of solidarity, Prime Minister Narendra Modi led heads of state, including Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, and South African President Cyril Ramaphosa, walking side-by-side along the red carpet of the BRICS Business Forum 2026 in New Delhi on Friday.
PM Modi was seen holding hands and walking with Iranian President Masoud Pezeshkian, underscoring solidarity among leaders of the expanded grouping as they discussed ways to deepen cooperation in trade, investment, innovation and global development.
The leaders were seen walking along a red-carpet corridor inside the summit venue, with the official “BRICS INDIA 2026” branding prominently visible on the wall. Prime Minister Modi was seen walking alongside the other leaders, with him leading the way for the other group leaders, smiling as they proceeded through the venue.
The BRICS Business Forum meeting was held a day before the formal opening of the BRICS Summit here.
Addressing the Leaders' Session of the BRICS Business Forum, Iranian President Masoud Pezeshkian said the grouping's strength lies not merely in the size of its economies but in converting their economic capacities into practical cooperation.
“We believe that the true strength of BRICS is not confined merely to the size of its members' economies; rather, it becomes more apparent when these capacities are transformed into a network of trade, investment and joint financing – a transition from potential cooperation to operational one,” he said.
Pezeshkian said the global economic environment has become more complex amid geopolitical uncertainty, supply-chain disruptions and the increasing use of economic instruments for political pressure.
“The world today is going through one of its most complex periods. Geopolitical uncertainty, disruption in its supply chains and the increasing use of economic instruments to exert political pressure have made the economic environment in which countries operate more complex. The question is, what is BRICS' response to these challenges?” he said.
Prime Minister Narendra Modi, meanwhile, hailed BRICS nations as important centres of global innovation and solutions amid global uncertainties.
“Today, BRICS nations represent 50 per cent of the world's population, 40 per cent of its GDP, and over 25 per cent of global trade. Moreover, while global GDP has grown approximately two-and-a-half-fold over these years, the combined GDP of BRICS nations has expanded nearly four-and-a-half-fold. In other words, the economic strength of BRICS has grown at nearly twice the pace of the rest of the world," he said.
"The growing scale, speed, and optimism of BRICS are clearly evident among us. This forum, hosted in India, is the largest BRICS Business Forum to date,” the Prime Minister added.
Russian President Vladimir Putin, during his address, said that reliable business-to-business ties and economic partnerships are the backbone of international economic relations and help overcome the problems facing the world.
"This gathering shows the growing interest in strengthening business contacts and relations across the BRICS space. It is evident that reliable business-to-business ties and economic partnerships are the backbone of international economic relations. It helps build relations in a stronger, more resilient manner. It helps to overcome the problems the world is facing," Putin said.
"And right now, the world is undergoing structural, deep, profound shifts, which is explained by the fact that the so-called old leaders, which used to be the vanguard of economic growth in the second half of the 20th century, are being replaced by new engines of growth. When I say old, this is just a formality; all of us understand what we are talking about. And these so-called old leaders are still in possession of great strengths and well-developed infrastructure and significant scientific developments," he added.
The BRICS Business Forum is the flagship private sector platform of the grouping and is convened annually in the Summit host country on the eve of the Leaders' Summit. It brings together business leaders, Ministers and Heads of State to discuss trade, investment, finance, technology and development challenges that shape the BRICS economic agenda.
The Forum also serves as a platform where key ideas and suggestions from the Council are presented and discussed. It plays a strong agenda-setting role, with the conclusions and recommendations of the Business Council regularly reflected in BRICS Summit declarations and follow-up work plans, particularly on intra-BRICS trade, investment, digital economy, MSMEs, standards cooperation and value chain integration.
The forum comes as India hosts the 18th BRICS Summit under its 2026 chairship. India's Chairship is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, with development, sustainability and innovation forming key areas of focus.
The grouping currently comprises 11 countries -- Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE.
India's BRICS Chairship comes amid global economic fragmentation, technological disruption, geopolitical uncertainty, climate change and resource pressures. For India, the 2026 Chairship is focused on translating the expanded representation of BRICS into meaningful cooperation and tangible outcomes, while building consensus among its diverse members and strengthening the effectiveness of existing mechanisms. (ANI)
BRICS hand-in-hand: PM Modi, Putin, Pezeshkian, other leaders walk side by side, showcasing bloc unity
