Putin highlights $1.2 trillion BRICS trade and calls for UN reform

During the 18th BRICS Summit in New Delhi, Russian President Vladimir Putin announced that intra-group trade has reached $1.2 trillion. He noted that member nations account for nearly a quarter of global exports and drive 49 percent of global GDP dynamics.

Putin emphasized the potential for further growth through the economic complementarity of member states, suggesting the creation of a shared growth platform to leverage diverse industrial specializations and technological capabilities. He stated that the group is increasingly positioned as a central hub for global governance.

Additionally, Putin called for the expansion of the United Nations Security Council to increase representation from Asia, Africa, and Latin America. He also highlighted a need to reform global economic institutions, such as the International Monetary Fund, the World Bank, and the World Trade Organization, to better reflect current political and economic realities.