Putin Says BRICS Now Outpaces G7 in Global GDP
Russian President Vladimir Putin has highlighted BRICS’ growing economic weight, saying the grouping now accounts for more than 40% of global GDP compared with around 29% for the G7, as he addressed the BRICS Business Forum in New Delhi.
Putin Highlights BRICS Share of Global GDP
Putin said the balance of economic power was shifting towards emerging and developing economies, arguing that countries once regarded as the primary engines of global growth were increasingly being joined or overtaken by new centres of economic activity.
He cited figures showing BRICS economies producing more than 40% of world GDP over the past five years, while placing the G7 contribution at about 29%.
Putin described the shift as evidence of deeper structural changes taking place across the global economy.
Modi Says BRICS Economic Strength Is Growing Faster
Prime Minister Narendra Modi also highlighted the grouping’s expanding economic influence during the Business Forum.
Modi said BRICS countries now represent around half of the world’s population, approximately 40% of global GDP and more than a quarter of international trade.
He said that while the global economy had expanded roughly two-and-a-half times over a comparable period, the combined economic output of BRICS countries had grown about four-and-a-half times.
Expanded BRICS Seeks Greater Global Role
BRICS currently has 11 full members, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the UAE and Indonesia, alongside 10 partner countries.
The growing economic scale of the grouping is expected to feature prominently at the New Delhi summit as members discuss trade, financial cooperation, development and reform of global institutions.
