Putin Says BRICS Has Overtaken G7
Russian President Vladimir Putin has said BRICS has overtaken the G7 in economic size, while praising India as a key partner in the global technology and software sector. Speaking at the St Petersburg International Economic Forum, Putin said developing economies are playing a larger role in global growth as Western influence declines.
BRICS Economic Growth Surpasses G7
Putin said BRICS countries now account for a major share of global GDP growth. He claimed the bloc contributed nearly half of annual global growth over the past five years, compared with a much smaller share from the G7.
He also said BRICS has already moved ahead of the G7 in purchasing power parity terms, with its share of global GDP now higher than that of advanced Western economies.
Putin Praises India As Key Partner
Putin described India as one of Russia’s key partners and highlighted its strength in information technology and software services. He said India holds a significant position in the global software market and is among the important players shaping the digital economy.
His remarks come as India continues to maintain close ties with Russia while also expanding partnerships with the United States, Europe and other major economies.
Russia Slams Western Sanctions
Putin also criticised Western sanctions, saying restrictions on Russia and the freezing of sovereign reserves had damaged trust in the dollar, euro and Western financial systems.
He argued that more countries are now looking for alternative economic arrangements as the global order shifts toward a more multipolar structure. Putin said Russia sees these changes not only as a challenge but also as an opportunity.
