Iranian President Masoud Pezeshkian has arrived in Delhi to participate in the high-profile BRICS Summit, while this visit is being viewed as a significant diplomatic milestone, as it marks the first time in 8 years that an Iranian President has traveled to India. The last such visit occurred in 2018 when the then-President Hassan Rouhani visited the country. President Pezeshkian is scheduled to hold a crucial bilateral meeting with Prime Minister Narendra Modi this evening, where the two leaders are expected to explore into a wide range of strategic and economic issues.
Strengthening Multilateralism and Countering Unilateralism
Before departing from Tehran, President Pezeshkian delivered a clear message directed toward global powers, particularly the United States. He emphasized that the BRICS group possesses immense potential to counter unilateralism and foster enhanced economic cooperation among its member states, while he advocated for a concerted effort to reduce the global economy's dependence on the US dollar in international transactions. Pezeshkian described the 18th BRICS Summit as a vital opportunity to strengthen multilateralism and reshape the international order.
The Growing Influence of BRICS
Highlighting the global standing of BRICS, the Iranian President noted that the group now comprises 21 members, including 11 core members and 10 new members referred to as BRICS PLUS. He pointed out that the BRICS nations collectively represent more than 45 percent of the world's population and cover approximately 35 percent of the Earth's land area. This vast representation provides the group with significant capabilities across various sectors. One of the primary objectives of BRICS, according to Pezeshkian, is to enable member nations to develop their economic and trade relations independently while resisting the excessive demands of major powers.
Economic Cooperation and Reducing Dollar Dependency
The theme for this year's BRICS Summit focuses on solidarity, stability, resistance, and innovation, while president Pezeshkian expressed hope that this vision would lead to increased exchange and cooperation in economic, financial, industrial, scientific, and trade sectors. He also highlighted the financial capabilities of the group, mentioning the establishment of the BRICS Bank (New Development Bank) to facilitate investments and joint activities among member states. A key priority remains creating conditions for regional development without relying on the dollar, thereby standing firm against unilateralism.
Bilateral Agenda: Chabahar Port and Energy
On the sidelines of the summit, the bilateral meeting between India and Iran will focus on several critical projects. The Chabahar Port remains a top priority for India, which has also invested in the Shahid Beheshti terminal. This port is strategic for India as it allows for a bypass of Pakistan to reach Afghanistan and Central Asia. There are further plans to link this to the International North-South Transport Corridor (INSTC) to strengthen connectivity with Russia and Europe. Also, energy cooperation is a major talking point, with Iran showing interest in supplying more crude oil and LPG to India. While international sanctions remain a factor, both nations are exploring trade in local currencies and utilizing BRICS financial mechanisms to simplify business. The discussions are also expected to touch upon the current situation in West Asia, the freedom of sea trade in the Strait of Hormuz, and regional peace.