New Delhi: Russian President Vladimir Putin on Friday highlighted the growing economic influence of BRICS while questioning the relevance of the Group of Seven (G7) at the BRICS Business Summit 2026 in New Delhi.
Putin said BRICS members account for nearly 40% of global economic output, compared with about 18% for the G7. Taking a pointed swipe at the grouping, he remarked, “I don’t know why they call them that,” while describing BRICS as the world’s largest economic bloc.
The Russian president said the global economic landscape was undergoing a major transformation and called for deeper cooperation among BRICS nations. He also said the grouping remained open to working with countries beyond its membership.
Earlier, Prime Minister Narendra Modi held a nearly 45-minute bilateral meeting with Putin on the sidelines of the 18th BRICS Summit. Modi reiterated India’s position that dialogue and diplomacy are essential to resolving the Ukraine conflict.
The leaders reviewed cooperation in areas including trade, defence, energy, space and skilled mobility. They also discussed West Asia and the Black Sea region, particularly their impact on maritime trade and the safety of Indian seafarers.