New Delhi, Jun 23:The opening of the Strait of Hormuz is a very welcome move as it will help energy security, National Security Advisor Ajit Doval said on Tuesday while welcoming counterparts from BRICS nations at a key conclave here.
Doval said freedom of navigation through the key shipping lane will benefit the countries of the region and beyond.
“India welcomes the MoU reached between the US and Iran. We have got cautious optimism, and we hope that it will work. It will help energy security,” Doval said.
“The opening of the Strait of Hormuz is a very welcome development. It will remove supply chain bottlenecks and (address) shortages in sectors like fertilisers and chemicals,” he said.
Doval also delved into geopolitical tensions witnessed in various geographies and their impact on various countries.
“We are meeting at a very tumultuous time. The world is facing geopolitical uncertainties, economic strains, and disruptive technology,” Doval said.
“Not only that the threats are compounding, but the instruments and institutional mechanisms are increasingly finding themselves to be inadequate to resolve or mitigate these conflicts,” he said.
“Multilateralism is on the decline,” he said, adding BRICS has a major role to play in addressing various challenges.
“BRICS was conceived as an informal grouping of emerging economies to a more multipolar world order. It was to advance economic cooperation and strengthen the voice of the Global South,” he said.
Doval said BRICS also envisioned reforms in global governance and institutional improvements.
“BRICS is a very special coalition of countries that believe in peace, progress, development, and cooperation,” he added.
New Delhi is hosting the conclave in its capacity as the current chair of the influential grouping.
BRICS, originally comprising Brazil, Russia, India, China, and South Africa, expanded in 2024 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), with Indonesia joining in 2025.
BRICS has emerged as an influential grouping as it brings together 11 major emerging economies of the world, representing around 49.5 per cent of the global population, around 40 per cent of the global GDP and around 26 per cent of the global trade. ( PTI )
