Putin in New Delhi: BRICS Business Forum Pushes Back Against Western Economic Dominance
Russian President Vladimir Putin used his address to the BRICS Business Forum in New Delhi to argue that the global economic order is undergoing a major structural transformation, with emerging economies increasingly driving growth and trade. He said BRICS countries had become important engines of the world economy and called for deeper cooperation among member states.
Speaking at the Leaders’ Session of the forum at Bharat Mandapam on September 11, Putin highlighted the combined economic weight of BRICS. He said that over the previous five years, BRICS economies had accounted for more than 40% of global GDP, compared with about 29% for the G7.
Putin also pointed to the bloc’s large population and domestic consumer markets as a major source of future growth. His argument was that the economic centre of gravity is shifting toward countries outside the traditional Western-led economic groupings.
A major theme of the speech was economic sovereignty. Putin criticised the use of sanctions and other economic restrictions as instruments of geopolitical pressure, saying Russia alone had faced more than 30,000 sanctions. He portrayed the pressure as part of a broader effort to restrict competition.
The Russian leader said Moscow remained prepared to work with both existing and new partners. He emphasised cooperation in infrastructure, logistics, finance and technology, presenting the BRICS Business Council as an important mechanism for expanding trade and investment.
Putin specifically identified energy and food security as areas where Russia was ready to contribute. He also highlighted major transport projects, including the Arctic Transport Corridor and the North-South Transport Corridor, as potential routes for strengthening international trade connectivity.
He further called for cooperation in emerging technologies, including smart technologies and unmanned transport, as well as training and applied research. The emphasis suggests that Moscow sees BRICS not merely as a diplomatic grouping but as a platform for practical economic and technological partnerships.
The speech came against the backdrop of continuing geopolitical tensions involving Russia, Ukraine, the Middle East and relations between Western countries and the expanding BRICS grouping. Putin accused Western competitors of attempting to regain their previous economic leadership through increasingly aggressive means.
India’s role was central to the setting. Prime Minister Narendra Modi met Putin in New Delhi and discussed bilateral cooperation spanning trade, energy, defence, space, industrial cooperation and other sectors. The two leaders also visited the INNOPROM India industrial exhibition.
Modi, meanwhile, has continued to stress dialogue and diplomacy as the preferred approach to international conflicts. That position allows New Delhi to maintain strategic relations with Moscow while simultaneously engaging with Western powers and other BRICS members.
The business forum therefore carried significance beyond corporate cooperation. Putin’s remarks, combined with the broader BRICS agenda, underscored an effort to build stronger trade, financial and transport networks among emerging economies and reduce vulnerability to economic pressure from outside the grouping.
The BRICS summit’s main leaders’ programme began in New Delhi on September 12, with discussions expected to cover economic and financial cooperation, political and security issues, and India’s initiatives as BRICS chair. The expanded BRICS meeting is scheduled for September 13.
The larger message from New Delhi is clear: Russia wants BRICS to evolve into a stronger economic platform capable of shaping global trade and growth, while India is using its presidency to strengthen cooperation without turning the grouping into an explicitly anti-Western alliance. The balance between those two approaches will be closely watched as the summit progresses.
