Prime Minister Narendra Modi and Iranian President Masoud Pezeshkian held a bilateral meeting on the sidelines of the 18th BRICS Summit in the national capital on Friday, as the two leaders continued discussions on strengthening India-Iran ties and cooperation in multilateral forums.
This meeting came after both leaders addressed the BRICS Business Forum 2026 alongside and South African President Cyril Ramaphosa.
The bilatral meeting came against the backdrop of heightened geopolitical tensions in West Asia due to US-Iran War, which have raised concerns over maritime security, trade flows and the movement of energy cargoes through strategically important waterways.
The meeting also comes against the backdrop of Pezeshkian’s remarks at the Leaders’ Session of the , where he called for stronger economic cooperation among BRICS countries and “a transition from potential cooperation to operational one”.
“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 an operational one,” Pezeshkian said.
The Iranian president also said that geopolitical uncertainty, disruption in supply chains and the increasing use of economic instruments to exert political pressure have made the economic environment more complex.
“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.
Pezeshkian also said at the BRICS Business Forrum that one of the most important steps is to expand the use of national currencies in trade among the members. This step, he said, must be accompanied by the establishment of the necessary instruments for managing currency risks and reciprocal settlements.
“Since the current financial system is vulnerable to political shocks due to its concentration on a limited number of currencies, in order to transform trade cooperation into real investment, the New Development Bank must become the principal engine for financing infrastructure and energy in member countries through dedicated credit lines, financing in local currencies and guarantee instruments for attracting prive capital,” he said.
A note issued by said that the two leaders discussed various aspects of the bilateral relationship. “Prime Minister thanked Iran for its regular, high-level participation in BRICS-related meetings despite the challenging circumstances. He noted the potential for BRICS in building the spirit of resilience, innovation, cooperation and sustainability among countries in the Global South. He also thanked President Pezeshkian for his participation in the Leaders’ Session of the BRICS Business Forum,” the note read.
Pezeshkian arrived in the national capital to attend the BRICS Summit earlier today, with the Ministry of External Affairs highlighting the longstanding civilisational ties between India and Iran and their shared commitment to progress and prosperity as BRICS partners.
Recent developments in West Asia discussed
The two leaders exchanged views on recent developments in West Asia, the MEA note read. “Prime Minister reiterated India’s consistent position that all issues must be resolved through dialogue and diplomacy. He also underscored the need for continued efforts to ensure lasting peace and stability in the region, safeguarding freedom of navigation and commerce, and the safety and well-being of seafarers,” read the note.
India has consistently advocated dialogue and diplomacy to address regional conflicts while maintaining its focus on protecting its economic and energy interests.
Pezeshkian had earlier met on the sidelines of the Shanghai Cooperation Organisation Summit in Bishkek.
During that meeting, PM Modi reiterated India’s readiness to closely cooperate with Iran in multilateral organisations, including BRICS and SCO, and expressed New Delhi’s resolve to “expand and diversify” bilateral trade channels with Iran.
The Iranian President also highlighted the longstanding relationship between Iran and India and the scope for expanding areas of common interest.
“Our presence at this summit is a good opportunity to meet and discuss with various officials, including those from China, Russia, Brazil, India, and other countries,” he said.
India is hosting the 18th BRICS Summit in New Delhi on September 12-13. 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.
BRICS has emerged as an important platform for coordination among major emerging economies and for advancing the interests of the Global South in multilateral institutions. Its agenda covers development, finance, technology, trade and people-to-people exchanges.
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 , technological disruption, geopolitical uncertainty, climate change and resource pressures. The expanded grouping provides a platform for cooperation on development, climate action, technology, energy and financial resilience, while also contributing to discussions on reforms in global institutions.
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.
(With ANI inputs)