1 hr ago
Russian Envoy Highlights BRICS Growth Ahead of New Delhi Summit
The BRICS countries are meeting for an important summit in New Delhi.
A Russian diplomat named Petr Sizov said he hopes BRICS will become a very strong community.
He said President Putin believes cooperation among the group’s members is growing quickly.
Putin compared BRICS with the G7 using economic figures.
He said BRICS countries produced more than 40% of the world’s economic output over five years.
He also said BRICS made up more than half of global economic growth during that time.
Prime Minister Narendra Modi and Putin discussed ways to increase cooperation between their countries.
Modi also asked businesses to identify trade barriers and help startups expand across BRICS markets.
Russian Embassy Press Secretary Petr Sizov expressed optimism about the 18th BRICS Summit in New Delhi.
Sizov said President Vladimir Putin believes cooperation within BRICS is increasing significantly.
Putin said BRICS countries produced more than 40% of global GDP over the past five years, compared with 29% for the G7.
Putin said BRICS countries accounted for more than half of global economic growth during that period, while the G7 accounted for 18%.
Prime Minister Narendra Modi and Putin discussed trade, infrastructure, energy, technology, defence and cultural cooperation.
- Who
- Russian President Vladimir Putin, Prime Minister Narendra Modi and Russian Embassy Press Secretary Petr Sizov.
- What
- The officials discussed BRICS cooperation, economic growth and plans for the 18th BRICS Summit.
- Where
- New Delhi, on the sidelines of the 18th BRICS Summit.
- When
- Sizov spoke on Friday, before the summit formally began the following day; Modi and Putin also met on Friday.
- Why
- To strengthen cooperation in trade, infrastructure, energy, technology, defence and culture, and to discuss economic coordination among BRICS members.
Key facts
- Summit
- 18th BRICS Summit
- Location
- New Delhi
- BRICS GDP share
- More than 40% of world GDP over the previous five years, according to Putin
- G7 GDP share
- 29% of world GDP over the same period, according to Putin
- BRICS growth contribution
- More than half of global economic growth over the previous five years, according to Putin
- G7 growth contribution
- 18% of global economic growth over the same period, according to Putin
- Business proposal
- Modi urged the BRICS Business Council to identify the top 10 trade barriers and support 100 BRICS startups annually in expanding into member markets
Quotes
Petr Sizov
Press secretary of the Russian Embassy in India
“Mein umeed karta hu ki yeh sabse jabardast community hoga (I have hopes that this will be a great community)”
NDTV
Sources
Related news
Putin Compares BRICS and G7 Economic Weight at Delhi Forum
Putin Says BRICS Now Accounts for 40% of Global GDP
Putin Says Emerging Economies Are Becoming New Growth Engines
Putin Highlights B2B Ties as BRICS Economic Influence Grows
Modi and Putin Set Bilateral Talks Ahead of BRICS Summit
Modi Meets Putin and Pezeshkian as BRICS Summit Begins
BRICS Summit Tests India’s Balancing Act and Global Influence
Modi and Pezeshkian Signal India’s Balancing Diplomacy at BRICS
DHS Removes ‘Mr Singh’ Deportation Poster After Racism Backlash
Vijay, Ajith, BRICS Tensions and India’s Changing Frontiers
