Putin Slams G7, Claims BRICS Now Accounts for Over 40% of Global GDP

Russian President Vladimir Putin addressed the BRICS Business Forum in New Delhi, asserting that shifting global economic power is demonstrated by the fact that BRICS nations have produced over 40 percent of the world’s GDP over the last five years, while criticizing the economic output of the Group of Seven.

Putin Attacks G7 Economic Clout at New Delhi Forum

Speaking during the leaders’ session at Bharat Mandapam, Putin pointed to recent macroeconomic shifts to challenge Western-led economic blocs. The Russian leader contrasted the performance of the eleven-nation developing bloc against advanced economies.

“The world is always changing, and this is attested to by the objective facts of the last five years,” Putin told delegates at the BRICS Business Forum.

Contrasting BRICS and G7 Growth Figures

During his address, Putin stated that BRICS countries accounted for more than 40 percent of global GDP over the preceding five-year period. In comparison, he directed a critical swipe at advanced economies, questioning the ongoing label of the Group of Seven.

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“Over the last five years, more than 40 per cent of the world GDP has been produced by the BRICS countries, whereas the contribution of the so-called G7, the Group of Seven, I don’t know why they call that the Group of Seven, stands at only 29 per cent,” Putin said.

The G7 comprises Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Demographics and Urbanization Drive Expansion

Beyond total GDP share, Putin cited figures indicating that BRICS nations drove more than half of global economic growth over the same five-year span, whereas G7 economies accounted for 18 percent. The BRICS grouping presently includes Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates.

Photo: timesofindia.indiatimes.com

“Our countries see an explosion of growth of urban settlements. Urbanisation is happening very fast, and national companies are on the ascendant, demonstrating themselves to be… world leaders.”

Corporate Giants and Global Trade Resilience

To illustrate the industrial expansion within member states, Putin highlighted several major corporations headquartered across the bloc. He pointed to India’s Mahindra for its IT and artificial intelligence solutions, China’s Huawei as a global technology giant, Brazil’s Embraer for its aerospace positioning, the United Arab Emirates’ DPO for logistics, and Russia’s Rosatom, which he noted as a top global entity in peaceful nuclear energy.

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Putin emphasized that reliable commercial partnerships and business-to-business ties form the backbone of international economic architecture. These connections, he argued, provide resilience as global markets navigate structural and profound shifts.

Bilateral Diplomacy in the Indian Capital

The business forum coincided with high-level diplomatic engagements in the Indian capital. Earlier in the day, Putin held bilateral meetings with Indian Prime Minister Narendra Modi.