Speaking at the BRICS Business Forum in New Delhi, Russian President Vladimir Putin highlighted that BRICS nations have produced more than 40 percent of the world’s GDP over the last five years, outpacing the Group of Seven (G7) economies, which stand at 29 percent.
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Shift in Global Power: Putin noted that the world is undergoing deep structural shifts, with “old leaders” of economic growth being replaced by new emerging engines.
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Critique of Western Policies: Criticizing Western competitors, Putin accused them of engaging in “ugly” forms of competition, citing physical disruptions of pipelines, efforts to block international transport corridors, the seizure of maritime vessels, and over 30,000 sanctions slapped on Russia.
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Expanded BRICS Footprint: The expanded bloc now features 11 full member nations—including founding members Brazil, Russia, India, China, and South Africa, alongside newer members Egypt, Ethiopia, Iran, Saudi Arabia, UAE, and Indonesia—plus 10 partner countries.
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Economic Scale: Prime Minister Narendra Modi reinforced these figures during his concluding address, noting that the combined GDP of BRICS nations has grown at nearly twice the pace of the rest of the world, with the bloc now representing 50% of the global population, 40% of its GDP, and over 25% of global trade.
On the sidelines of the New Delhi summit, PM Modi and President Putin held bilateral talks covering economic, defense, and energy ties, with PM Modi reiterating that dialogue and diplomacy remain the definitive path forward for resolving ongoing global conflicts.
