New Delhi: Speaking at the Brics Summit, Prime Minister Narendra Modi on Friday underscored the dramatic rise of the multinational bloc, revealing that its member nations now collectively contribute around 40 per cent of the world's gross domestic product and represent roughly half of the global population. The Prime Minister also pointed out that Brics countries account for approximately 25 per cent of international trade.
Modi noted that since the Brics coalition was first formed in 2006, its combined economic output has grown at nearly twice the rate of the rest of the world. He urged member countries to work together to strengthen multilateral institutions and reform global financial architecture so that emerging economies have greater representation and voice in decision-making bodies such as the International Monetary Fund and the World Bank.
The Brics grouping — originally comprising Brazil, Russia, India, China, and South Africa — has steadily expanded its footprint on the world stage. Its growing economic weight has made it a significant counterweight to Western-dominated institutions, and Modi's remarks reflect India's active push to position Brics as a platform for amplifying the concerns of developing nations.
Analysts say the figures cited by the Prime Minister, while approximate, highlight a structural shift in the global economy. Over the past two decades, countries within Brics — particularly China and India — have experienced rapid industrialisation and growth in their middle-class populations, driving up both their domestic consumption and their share of global commerce.
Modi also called on the member nations to deepen cooperation in areas such as technology, renewable energy, and digital infrastructure, arguing that shared challenges demand collaborative solutions. He emphasised that the bloc must remain united in its commitment to a multipolar world order where no single country or group of countries dictates terms to the rest.
