Modi champions UPI, Putin takes a swipe at G7’s sinking economic dominance

Modi champions UPI, Putin takes a swipe at G7’s sinking economic dominance

From Russian President Vladimir Putin taking a swipe at the G7 and Prime Minister Narendra Modi stressing on the importance of secure sea lanes for global trade and “freedom of navigation” amid disruptions in supply routes and choking of the Strait of Hormuz to the Iranian President Masoud Pezeshkian insisting on diversifying trade partners, sources of financing and payment channels, the BRICS leaders’ session on Friday evening provided a collective voice for the grouping that now accounts for 40 per cent of the world’s GDP