Putin: Emerging Economies Replace Old Leaders

Russian President Vladimir Putin stated that the global economy is experiencing profound structural changes, with emerging economies becoming the new drivers of global growth.

He made this statement at the BRICS Business Forum in New Delhi on Friday.

Putin emphasized that the old economic leaders are being replaced by new growth engines, citing the growing economic weight of the BRICS nations.

The BRICS countries have accounted for over 40% of global GDP in the past five years, surpassing the G7's 29%.

Putin highlighted the importance of strengthening business-to-business ties and economic partnerships among BRICS nations to create more resilient international economic relations.

He also noted that established economies still possess technological and infrastructural advantages, but economic power is naturally shifting.

Putin met with Prime Minister Narendra Modi earlier in the day to discuss strengthening trade ties and cooperation in various sectors.

The two leaders talked about implementing the Programme for Economic Cooperation 2030 and collaborating in infrastructure, energy, technology, defence, and culture.

The BRICS Business Forum aims to foster economic partnerships and address challenges facing the global economy.

Putin's statement underscores the shifting global economic landscape, with emerging economies playing a increasingly significant role.

The Russian president's emphasis on developing ties with reliable partners and tapping into large domestic markets is crucial for the growth of BRICS nations.

As the global economy continues to evolve, the rise of new growth engines is likely to have a significant impact on international trade and relations.

In the context of the BRICS summit, Putin's statement highlights the importance of cooperation and partnership among emerging economies.

The meeting between Putin and Modi demonstrates the commitment of BRICS nations to strengthen their economic ties and address global challenges.

The growing economic weight of the BRICS nations is a significant development in the global economy, and their cooperation is likely to shape the future of international trade and relations.

In conclusion, Putin's statement at the BRICS Business Forum underscores the significance of emerging economies in driving global growth and the need for cooperation and partnership among nations.