Putin Says G7 Is Losing Global Economic Weight as BRICS Rises

By NIRENDRA DEV

Russian President Vladimir Putin contrasts the G7’s declining economic share with BRICS’ growing influence, arguing that the global economic balance is shifting toward emerging powers.

New Delhi, September 11, 2026 — Russian President Vladimir Putin has taken a pointed swipe at the Group of Seven (G7), arguing that its economic weight has declined significantly while the BRICS grouping has emerged as an increasingly important force in the global economy.

Speaking at the BRICS Business Summit 2026 in New Delhi, Putin contrasted the economic strength of the two groupings and questioned the continuing relevance of the G7 in a rapidly changing global order.

Putin said G7 countries now account for about 18% of global economic output, while BRICS members account for nearly 40%, underscoring what Moscow sees as the growing economic influence of emerging powers.

“I don’t know why they call them that,” Putin remarked, questioning the relevance of the G7.

Putin’s criticism carries an added historical dimension.

Russia was previously a member of the G8, which brought together the world’s leading industrialised economies. Moscow was effectively excluded from the grouping after the 2014 annexation of Crimea, following which the forum reverted to its G7 format.

More than a decade later, Putin is positioning BRICS as part of a broader transformation in the global economic and political order.

The Russian President accused Western countries of attempting to regain their former dominance and putting pressure on BRICS economies.

“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.

He also criticised Western sanctions against Russia, arguing that Moscow had managed to maintain economic activity despite restrictions.

BRICS Versus G7: A Changing Economic Balance

Putin’s remarks reflect a broader debate over how global economic power should be measured.

On purchasing power parity (PPP) measures, the expanded BRICS grouping has a substantially larger combined economic output than the G7. The BRICS bloc’s growing membership has also increased its demographic, commodity and manufacturing weight.

The G7, meanwhile, remains highly influential in global finance, advanced technology and international institutions. Its members include the United States, Canada, Japan, Germany, France, Italy and the United Kingdom.

The economic contest, therefore, is not simply about headline GDP numbers. It increasingly involves trade, energy, manufacturing, technology, financial infrastructure and supply chains.

Putin highlighted this wider transition, arguing that BRICS members are gaining strength as the global economy becomes increasingly multipolar.

India at the Centre of the BRICS Shift

Putin’s remarks came as India hosts the BRICS Summit in New Delhi, placing Prime Minister Narendra Modi’s diplomatic balancing act under particular focus.

India has consistently argued for greater representation for developing economies while maintaining that BRICS should not become an anti-Western alliance.

For New Delhi, the expansion of BRICS creates opportunities to strengthen trade, investment, supply chains and financial cooperation across the Global South.

At the same time, India maintains substantial economic and strategic relationships with the United States, Europe, Japan and other G7 economies.

That makes the evolution of BRICS particularly important for India’s foreign policy.

The G7 Still Matters

Putin’s assessment should not be interpreted as meaning that the G7 has become irrelevant.

The United States, Japan and the major European economies continue to exercise enormous influence over global financial institutions, technology, investment flows and international trade.

However, the relative weight of emerging economies has undoubtedly increased over the past two decades.

Manufacturing capacity has shifted significantly toward Asia and other developing regions, while several G7 economies have experienced slower growth and weaker industrial expansion.

The result is a global economy in which Western economic dominance can no longer be taken for granted.

Putin’s message from New Delhi was therefore less about declaring the immediate demise of the G7 and more about asserting that the economic centre of gravity is moving.

For BRICS, the bigger challenge will be converting that economic weight into effective institutions, greater intra-group trade and practical cooperation.

For India, the test will be to ensure that the expanding BRICS platform strengthens the Global South without turning into another rigid geopolitical bloc.

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