2 hrs ago
Putin Says Emerging Economies Are Becoming New Growth Engines
Vladimir Putin said the world economy is changing in important ways.
He said countries with growing economies are becoming more important.
These countries include members of BRICS.
Putin said BRICS countries produced more than 40% of the world’s economic output over the past five years.
He compared this with 29% for the G7.
He also said older powerful economies still have strong technology, science, and infrastructure.
Putin argued that stronger business ties could help BRICS countries handle economic problems.
He and Narendra Modi also discussed cooperation between Russia and India.
Vladimir Putin said the global economy is undergoing deep structural changes.
He said emerging economies are increasingly becoming new engines of global growth.
Putin said BRICS countries accounted for over 40% of global GDP in the past five years, compared with 29% for the G7.
He argued that older economic leaders are gradually being replaced by new centers of growth, while established economies retain technological and infrastructure advantages.
Putin and Narendra Modi discussed strengthening trade and cooperation in infrastructure, energy, technology, defense, and culture.
- Who
- Russian President Vladimir Putin and Indian Prime Minister Narendra Modi; BRICS countries were also central to the discussion.
- What
- Putin said emerging economies are becoming new global growth engines and called for stronger economic ties among BRICS nations.
- Where
- At the BRICS Business Forum and Bharat Mandapam in New Delhi.
- When
- Friday, during the BRICS summit.
- Why
- Putin said deeper business-to-business ties and economic partnerships could create more resilient international economic relations amid global structural changes.
Key facts
- BRICS share of global GDP
- More than 40% over the past five years, according to Putin.
- G7 share of global GDP
- 29% over the past five years, according to Putin.
- Main economic trend
- Economic power is shifting toward new centers of growth.
- BRICS advantage
- Large, dynamic, and vibrant domestic markets.
- Putin-Modi discussions
- Trade ties and the Programme for Economic Cooperation 2030.
- Other cooperation areas
- Infrastructure, energy, technology, defense, and culture.
Sources
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