NEW DELHI: India and Iran have agreed to pursue a long-term, “win-win” approach to their bilateral relationship, as Prime Minister Narendra Modi and Iranian President Masoud Pezeshkian held talks in New Delhi against the backdrop of an escalating conflict in West Asia, with widening tensions raising concerns over regional stability, maritime security, trade and energy flows.
The meeting, held on the sidelines of the BRICS Summit, was the second interaction between the two leaders in less than two weeks. They had earlier met on the sidelines of the SCO Summit in Bishkek on August 31.
“From Bishkek to Delhi, the productive discussions continue,” Modi said after the meeting.
Modi said the two sides discussed India-Iran friendship and agreed on the need to take the relationship forward with a long-term perspective. “We talked about the India-Iran friendship. We believe that we should move forward with a long-term and win-win strategy,” he said.
The escalating situation in West Asia also figured prominently in the discussions. “The prevailing situation in the region was also discussed. India remains steadfast in its commitment to the pursuit of enduring peace,” Modi said.
According to the official readout, Modi reiterated India’s consistent position that all issues in the region must be resolved through “dialogue and diplomacy”. He also underscored the need for continued efforts to ensure lasting peace and stability, while safeguarding freedom of navigation and commerce and the safety and well-being of seafarers.
At the BRICS Business Forum, Pezeshkian called for greater use of national currencies in trade among BRICS members. “One of the most important steps is to expand the use of national currencies in trade among the members,” he said, stressing that the move should be accompanied by mechanisms for managing currency risks and enabling reciprocal settlements.
Pezeshkian argued that the existing global financial system remains vulnerable to political shocks because of its concentration on a limited number of currencies. He called for the New Development Bank to become a principal engine for financing infrastructure and energy projects in member countries through dedicated credit lines, local-currency financing and guarantee instruments to attract private capital.
He also said BRICS must play a larger role in shaping the digital economy as artificial intelligence drives a fundamental transformation of the global economy. The grouping, he said, should not merely be a consumer of technology but contribute to knowledge production, digital standards and the cybersecurity of critical infrastructure.