Don't know why they call them that: Putin's swipe at G7 economies at BRICS meeting

Russian President Vladimir Putin took a swipe at the Group of Seven (G7) on Friday, contrasting its declining share of the global economy with BRICS’ growing economic weight.Addressing the BRICS Business Summit 2026 in New Delhi, Putin said G7 countries accounted for about 18% of global economic output, compared with nearly 40% for BRICS members.“I don’t know why they call them that,” Putin remarked, questioning the grouping’s continued relevance.Russia was a member of what was then the G8 until it was expelled following its annexation of Crimea in 2014. The grouping subsequently reverted to the G7. Putin described BRICS as the world’s largest economic bloc and said its members were gaining strength and influence as the global order changed.Highlighting India’s growing contribution to the global economy, Putin said the world was undergoing a major economic shift. He added that BRICS remained open to cooperation with countries outside the grouping. The Russian president also accused Western nations of repeatedly trying to undermine BRICS countries.“Western competitors of BRICS are trying to regain their former leadership, and this struggle is taking an unseemly turn at the governmental level,” Putin said.Putin accused Western countries of imposing unfair sanctions on Russia and said Moscow had maintained its economic performance despite the restrictions.He also called for greater cooperation among BRICS members as the global economic order evolves.MODI-PUTIN BILATERAL TALKSEarlier in the day, Prime Minister Narendra Modi held a nearly 45-minute meeting with Putin on the sidelines of the 18th BRICS Summit at Bharat Mandapam.The meeting marked Putin’s first in-person participation at a BRICS summit outside Russia since the Ukraine war began in February 2022. It was also the second meeting between Modi and Putin this year.PM Modi reiterated that dialogue and diplomacy were the only way forward in resolving the Ukraine conflict and said India was ready to assist peace efforts.The two leaders reviewed cooperation across political, economic, defence, energy, space, skilled mobility and people-to-people ties.They also discussed the conflicts in West Asia and the Black Sea region, particularly their impact on maritime trade and the safety of Indian seafarers.PM Modi and Putin reviewed India-Russia cooperation within BRICS under India’s 2026 chairship and agreed to further strengthen their “Special and Privileged Strategic Partnership”, which has remained resilient despite geopolitical tensions.- EndsPublished On: Sep 11, 2026 18:05 IST