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Latest Business News, Business News India Today | The HinduBusinessLine

Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector Modi seeks opposition backing to implement women’s reservation before 2029 polls West Asia crisis: Ludhiana handtool export units face labour, gas supply shortages, high input costs Patent application filings in India rise 30.2% to 1.43 lakh in 2025-26: Goyal Meet the man with 138 degrees: Dashrath Singh, an ex-serviceman, earns latest qualification from IGNOU Europe missed AI bus, but India has potential to catch up: Former WEF Director AIG Hospitals, ICMR team up for digital health innovation Juno Joule Bio Fuels begins construction of compressed bio-gas project in Telangana Legendary playback singer Asha Bhosle dies at 92 Signature Global cuts net debt by 77% to ₹200 crore in FY26 Iran aims to restore majority of refining capability within two months Supreme Court to hear on Monday pleas related to SIR of electoral rolls in West Bengal US, India hold engagements to advance defence cooperation Trump shares article suggesting option with him to enforce naval blockade on Iran NCLAT reaffirms project-specific insolvency proceedings against realty firms Iran-US talks in Pakistan ended without deal as Tehran cites ‘excessive demands’ from US Two supertankers U-turn in Hormuz as US-Iran talks break down Time has come to implement Women's Reservation Act: PM Modi's letter to LS, RS floor leaders Iran war diverts US military, attention from Asia ahead of Trump's summit with China's leader Trump says China will have big problems if it ships arms to Iran India will soon become self-reliant in defence sector, find itself among leading nations of the world: Rajnath Singh Pakistan to continue facilitating US-Iran talks, says Dar; urges ceasefire More than 2,000 people killed by Israeli strikes in Lebanon during Israel-Hezbollah war: officials Iran denies US claims of mine clearing ships’ passage through Strait of Hormuz AI to reduce uncertainties and expand opportunities - RBI DG EAM Jaishankar meets members of Indian community in UAE 4 ways war in Iran has weakened United States in great power game US-Iran talks fail after 21 hours in Islamabad, JD Vance cites nuclear deadlock Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Islamabad talks: US and Iran begin negotiations aimed at ending West Asia conflict
Opening of Strait of Hormuz welcome move: NSA Doval at BR...
PTI · 2026-06-23 · via Latest Business News, Business News India Today | The HinduBusinessLine
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 18, 2026

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 18, 2026 | Photo Credit: Reuters

The opening of the Strait of Hormuz is a very welcome move for global energy security, National Security Advisor Ajit Doval said on Tuesday, welcoming his counterparts from BRICS nations at a key conclave here.

In his televised opening remarks at the BRICS NSAs meeting, Doval, touching upon impact of "geopolitical uncertainties and economic strains", underlined the need for the grouping to play a significant role in addressing the challenges.

Chinese Foreign Minister Wang Yi, Russian NSA Sergei Shoigu, Iranian security official Ghadir Nezamipour and other top BRICS security officials are attending the meeting chaired by Doval.

"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.

In the remarks, Doval emphasised the importance of BRICS in navigating various global challenges.

"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.

New Delhi hosted 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, with Indonesia joining in 2025.

The 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.

"We have got a very special role to play in this world, which appears to be in turmoil, a world which appears to be changing, a world in which the instruments of conflict resolutions are probably getting blunted," Doval said.

"What role we as a grouping can play is a matter that is important for us to ponder." Doval also made a mention of how BRICS took shape.

"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.

The National Security Advisor said the conclave will also discuss the outcomes of the two BRICS joint working groups on counter-terrorism.

"We need to be cognisant of the new security threats and challenges. Non-traditional threats have transcended national borders and have developed defeat systems against conventional responses," he said.

Doval also flagged concerns over non/traditional security threats facing the world, including those emerging from disruptive technologies.

"They all constitute an important threat for us. Today, we will be navigating some of these non-traditional security challenges in our collective deliberations," he said.

Published on June 23, 2026