Putin at BRICS Business Forum in New Delhi: Russia Pushes Trade, Energy and a New Global Economic Order
Russian President Vladimir Putin addressed the BRICS Business Forum in New Delhi on Friday, using the platform to call for deeper economic cooperation among BRICS countries and a stronger role for the grouping in the global economy.
Putin said the global economy is undergoing “structural, deep, profound shifts,” with new centres of economic growth increasingly challenging the dominance of established Western economies. He argued that BRICS countries are becoming increasingly important engines of global growth.
The Russian president highlighted the economic weight of the BRICS grouping, saying its members have accounted for more than 40% of global GDP in recent years. He contrasted this with the G7 and presented the figures as evidence of a changing balance in the world economy.
Putin also called for BRICS cooperation to move beyond its economic potential and become more practical. He pointed toward expanded trade, investment, joint financing, technology cooperation and stronger connections between the bloc’s economies.
A major part of his address focused on energy and food security. Putin said Russia was ready to work with BRICS partners to strengthen global energy and food supplies and to develop reliable international transport routes.
Among the projects he highlighted were the Arctic Transport Corridor and the North-South Transport Corridor, both of which could become strategically important for expanding trade between Russia, India and other participating economies.
Putin also identified technology as an area for greater cooperation. He referred to training, applied research, smart technologies and unmanned transport as fields where BRICS countries could deepen collaboration.
The Russian president sharply criticised Western economic pressure on Moscow. He said Russia has faced more than 30,000 sanctions, describing them as part of a broader transformation of economic competition into geopolitical pressure.
Putin argued that such pressure has encouraged Russia to strengthen its economic sovereignty and expand relations with what he called reliable and predictable partners. He said Russia’s economic growth during the past three years had exceeded the global average.
His remarks came as BRICS seeks to expand economic links while members face growing disruption to trade routes, supply chains and international payments. The Business Forum itself focused on trade, supply chains, agriculture, services, women-led businesses and the digital economy.
The New Delhi forum also carried particular significance for India-Russia relations. Prime Minister Narendra Modi and Putin held bilateral talks ahead of the summit, discussing trade, energy and the broader strategic relationship between the two countries. Both sides have set a target of increasing bilateral trade to $100 billion by 2030.
The discussions take place against a complicated international backdrop, including the Russia-Ukraine war, conflict and instability in West Asia, sanctions and disruptions to global shipping. These pressures have increased the importance of alternative trade corridors and energy partnerships for BRICS members.
Putin’s New Delhi address therefore went beyond a business gathering. It was also a political and economic message: Moscow wants BRICS to become a more operational platform for trade, investment, technology, energy and finance, while reducing dependence on Western-controlled economic mechanisms.
The BRICS leaders’ summit formally opened in New Delhi on September 12, with India hosting leaders including Putin, Chinese President Xi Jinping and Iranian President Masoud Pezeshkian. The summit is expected to focus on economic cooperation as well as major international and regional issues.
