Putin targets G7 at BRICS summit in Delhi, cites BRICS lead in global GDP

A new picture of the world economy emerged at the BRICS Business Summit 2026, held at Bharat Mandapam in New Delhi. Addressing the summit, Russian President Vladimir Putin launched a sharp attack on the so-called G7 grouping of Western countries. The figures he presented pointed not only to the declining dominance of Western nations, but also made clear that the world's economic command is shifting towards the East and developing countries.

Presenting economic data in his speech, Putin said that over the past five years, BRICS countries' share of total global GDP has been more than 40 percent. On the other hand, the G7 countries, which consider themselves the leaders of the world economy, have seen their share fall to just 29 percent.

It was not just about GDP. Putin said that of the total economic growth achieved worldwide over the past five years, more than half came from BRICS countries. In comparison, the G7 countries' contribution was just 18 percent. These figures make clear that the engine of global growth is shifting rapidly from the G7 to BRICS countries.

Explaining why the G7 countries have fallen behind, Putin specifically pointed to the population and domestic markets of BRICS nations. More than half the world's population lives in BRICS countries. This large population has created fast-growing, vibrant and constantly expanding domestic markets in these countries. Besides this, rapid urbanisation, abundant natural resources, and the growing global influence of local industries such as Indian companies are the real foundation of the bloc's success. According to Putin, trade and business relationships are the real strength of international economic ties and are helping in dealing with today's global challenges.

On the sidelines of the business summit, an important bilateral meeting took place between Prime Minister Narendra Modi and Russian President Vladimir Putin at Bharat Mandapam. The meeting lasted around 45 minutes, during which the two leaders discussed strengthening India-Russia bilateral relations, as well as the current tensions in the Middle East and their impact on global supply chains.

After the meeting, the two leaders travelled together in the same vehicle to visit a large industrial exhibition set up at Bharat Mandapam. During this, Putin formally invited PM Modi to visit Russia for the 24th India-Russia Annual Summit. PM Modi accepted the invitation with great respect, making clear that strategic and economic cooperation between the two countries is set to reach new heights in the coming time.

Overall, the BRICS summit in Delhi was not confined to diplomatic talks alone, but became a historic event that is set to shape the new direction of the world economy and challenge the dominance of Western powers.