Putin Takes Dig at ‘So-Called’ G7, Says BRICS Now Drives Over 40% of Global GDP

Russian President Vladimir Putin took a pointed swipe at the Group of Seven (G7) while highlighting the growing economic influence of the BRICS bloc during the BRICS Business Forum in New Delhi on Friday.

Speaking on the sidelines of the BRICS summit, Putin argued that the global economic balance is changing rapidly, with BRICS countries accounting for more than 40% of the world’s gross domestic product over the past five years. In a pointed reference to the G7, he questioned the relevance of the Western grouping while comparing its contribution with that of BRICS.

“Over the last five years, more than 40 per cent of the world GDP has been produced by the BRICS countries,” Putin said, before adding that the contribution of the “so-called G7” stood at 29%.

Putin also pointed to the differing contribution of the two blocs to global economic growth. According to the Russian president, more than half of the growth recorded by the world economy over the past five years has been generated by BRICS nations, while the G7 accounted for only 18%.

The Russian leader attributed BRICS’ growing economic influence largely to the bloc’s enormous population and expanding domestic markets. BRICS countries account for more than half of the world’s population, he noted, giving them substantial consumer markets and significant long-term growth potential.

Putin also highlighted rapid urbanisation across BRICS nations, arguing that the expansion of cities and domestic markets is helping national companies emerge as major global players.

The Russian president cited several companies from BRICS countries as examples of this transformation. Among them were India’s Mahindra, China’s Huawei, Brazil’s Embraer, the UAE’s DPO and Russia’s Rosatom.

He praised Mahindra for its IT and artificial intelligence-based solutions, describing Huawei as a globally recognised technology giant. He highlighted Embraer’s strong position in the aerospace sector, DPO’s role in logistics and Rosatom’s global standing in peaceful nuclear energy.

Putin said these companies represented broader success stories emerging from BRICS economies, stressing that their growth was driven by sustained investment and daily work.

Putin Calls Business Ties ‘Backbone’ of Global Economy

Beyond GDP figures, Putin used his address to emphasise the importance of stronger business-to-business relations among BRICS countries.

He argued that reliable commercial partnerships can make international economic relations more resilient and help countries deal with the structural challenges facing the global economy.

According to Putin, the world is currently experiencing “structural, deep, profound shifts”, making stronger economic partnerships increasingly important.

The remarks come as BRICS seeks to expand its role in global economic and political affairs. The grouping now comprises 11 countries — Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.

Putin’s comments in New Delhi underline Moscow’s broader push to present BRICS as an increasingly influential force in the global economy and a platform capable of challenging the traditional dominance of Western-led institutions.

His direct comparison with the G7 also adds a geopolitical dimension to the economic debate, portraying BRICS’ expanding economic weight as evidence of a shifting global order.