Putin Takes "40%" Dig At G7, Compares It With BRICS' Contribution To World GDP

Russian President Vladimir Putin on Friday drew a comparison between the BRICS grouping of emerging economies and G7 of developed countries, underlining that BRICS contributes more to the global economy. He was speaking at the BRICS Business Forum in New Delhi, where Prime Minister Narendra Modi later cited the same statistics to stress the importance of the group that has grown to 21 members. 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."