More than 40% of global GDP has been produced by the BRICS countries in the past five years, Russian President Vladimir Putin said on Friday.
"Over the past five years, more than 40% of the global GDP has been produced by the BRICS countries," Putin said during the plenary session of the BRICS Business Council in India.
The contribution of the G7 states was only 29%, Putin added.
"If we talk about the growth of the global economy over the same time, then almost half of this growth was provided by the countries of our association, while the G7 provided only 18%," Putin stressed.
BRICS countries have provided almost half of the growth of the global economy, Vladimir Putin said.
"If we talk about the growth of the global economy over the same period, then almost half of this growth was provided by the countries of our association," Putin said during the plenary session of the BRICS Business Council in India.
The BRICS countries have huge and dynamic domestic markets, and urbanization in them is rapidly developing, Putin added.
Innovative development in Russia is based on domestic developments and BRICS partners, Putin added.