Brics has overtaken G7, Global South new hub of growth: Putin at SPIEF

Russian President Vladimir Putin on Friday said the Brics grouping has already surpassed the G7 in terms of economic size and is set to pull further ahead in the coming years. Speaking at the St Petersburg International Economic Forum (SPIEF), which was moderated by India Today, Putin said it underscored that the structure of growth was gradually shifting towards the Global South.

Putin’s firm endorsement of the Brics comes at a time when US President Donald Trump has railed against the grouping, which comprises Brazil, Russia, India, China, and South Africa. Egypt, Ethiopia, Indonesia, Iran, and the UAE later joined the bloc. Last year, Trump called the Brics a threat to the US dollar and threatened the bloc with 100% tariffs.

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