New Delhi:
Russian President Vladimir Putin on Friday drew a comparison between the BRICS grouping and G7, underlining that the former contributes more to the global economy, as he spoke at the BRICS Business Forum in New Delhi, where Prime Minister Narendra Modi later cited the same stats.
Putin said, "Over the last five years, more than 40 per cent of the world GDP (gross domestic product) has been produced by the BRICS countries, whereas the contribution of the so-called G7, the Group of Seven -- I don't know why they call that the Group of Seven -- stands at only 29 per cent. ""The world is always changing, and this is attested to by the objective facts of the last five years," he noted, speaking in Russian accompanied by an official translation.
The Group of Seven (G7) is an informal bloc of seven of the world's most advanced economies -- Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States -- plus the European Union.
VIDEO | BRICS Business Forum: Russian President Vladimir Putin says, "...The world is always changing, and this is attested to by the objective facts of the last five years. And I think these statistics have already been cited by our colleague from Indonesia. Over the last five… — Press Trust of India (@PTI_News)PM Modi delivered the concluding address at the BRICS Business Forum, the flagship private-sector platform of the grouping that's convened annually in the host country on the eve of the Leaders' Summit. At the opening ceremony of the forum, Commerce Minister Piyush Goyal said, "During India's chairship of BRICS, we have been driven by a clear purpose to achieve more balanced trade among our countries and explore the expansion of trade in services across the BRICS family. India remains committed to ensuring that this cooperation benefits our farmers, empowers women and provides greater opportunities to young entrepreneurs and MSMEs. "
PM Modi Reiterates Dialogue, Diplomacy To End Wars
Earlier, PM Modi and President Putin held bilateral talks on the margins of the 18th BRICS Summit in New Delhi in what was their second meeting this year. The two leaders had met earlier in Bishkek, Kyrgyzstan, on the sidelines of the 26th SCO Summit on August 31."The two leaders reviewed progress in bilateral cooperation in political, economic, defence, energy, space, skill mobility and people-to- people domains," read a statement by the Indian Ministry of External Affairs. "They also shared perspectives on key regional and global issues of mutual interest, including the conflicts in West Asia and the Black Sea region which have impacted maritime trade and the safety and security of Indian seafarers. Prime Minister once again reiterated that dialogue and diplomacy was the way forward in resolving conflicts and India stood ready to assist in peace efforts. "While West Asia, or the Middle East, continues to see hostilities between the US-Israel alliance and Iran, the Russia-Ukraine war in the Black Sea region has escalated sharply in recent weeks.
The MEA statement added, "President Putin invited Prime Minister Modi to visit Russia for the 24th India-Russia Annual Summit. Prime Minister accepted the invitation. The dates of the Summit will be decided as per mutual convenience through diplomatic channels. "
The two leaders then travelled together in Putin's car, their fourth such shared ride in recent years.PM held wide-ranging discussions with President Putin on various aspects of the India-Russia Special and Privileged Strategic Partnership.— Randhir Jaiswal (@MEAIndia)The leaders reviewed progress in bilateral cooperation in sectors including trade, energy, defense, space and people to people…
In Bishkek on August 31, PM Modi said that India supports all efforts towards peace in the Ukraine war. "Every day spent in war sets humanity back, whereas every step taken towards peace fills humanity with new hope and enthusiasm. We must move away from endless war and an end to the war. This is essential for the well-being of humanity. " PM Modi added then on what he raised with Putin, "We have consistently discussed the issue of Ukraine. When we met previously, you briefed me in detail on all aspects of the matter. As you know, India supports all efforts towards peace and will continue to do so. A peaceful resolution to all issues at the earliest is the call of humanity, and this is India's message. The land of Gandhi and the land of Buddha share a single message- the path of peace. Today, I look forward to discussing these matters with you. "The conflict between Russia and Ukraine began in February 2022. During the SCO Summit in Samarkand in 2022, PM Modi had said, "Today's era is not an era of war. "