BRICS Business Forum Takes Off with Discussion Address by Putin

On September 11, 2026, in New Delhi, Russian President Vladimir Putin addressed the BRICS Business Forum (held ahead of the BRICS Summit).

Key points from his speech:

BRICS economic weight: Over the past five years, BRICS countries accounted for more than 40% of global GDP, compared with 29% for the G7. BRICS also contributed more than half of global economic growth, versus about 18% for the G7.

Russia’s economy: Between 2023 and 2025, Russia’s GDP grew by 10.3%, outpacing the global average. Unemployment fell to a historic low of 2.3%.

Sanctions: Russia faces more than 30,000 sanctions — almost twice as many as those imposed on all other countries combined.

Criticism of the West: He described Western countries as “old leaders” who previously drove growth but are now trying to reclaim dominance. He said competition has taken “ugly” or “unseemly” forms, including the use of sanctions, and referred to the Western “golden billion” imposing rules on others.

Business cooperation: Reliable business-to-business (B2B) ties and economic partnerships form the backbone of international economic relations and help overcome global challenges. He stressed the need to strengthen practical business cooperation (“business diplomacy”) within BRICS.

Investment platform: He proposed developing an investment platform (linked to the New Development Bank) to mobilize private capital for projects in infrastructure, logistics, technology, finance, tourism, and industry.

Priority areas: Cooperation in artificial intelligence, unmanned transport, digital platforms, financial technology, energy and food security, and transport corridors (including the Arctic and North-South routes).

Overall stance: BRICS is not directed against anyone. It is an independent partnership based on national interests, open to cooperation with the whole world, and focused on innovative solutions rather than externally imposed rules.

Putin also noted that a Russian National Committee for Business Cooperation within BRICS has been created, involving more than 40 major Russian companies, to advance concrete projects with partners.