Russian President Vladimir Putin said, over the last five years, more than 40 per cent of the world’s GDP has been produced by the BRICS countries. Addressing the Leaders’ Session of BRICS Business Forum at Bharat Mandapam in New Delhi this evening, President Putin said, BRICS countries account for more than half of the world’s population and that is why, they have a great dynamic, vibrant, domestic markets.  South African President Cyril Ramaphosa said, Global South must lead in manufacturing, Technology and value creation. He also raised concern over unilateral sanctions. 

Iranian President Masoud Pezeshkian suggested that one of the most important steps is to expand the use of national currencies in trade among the members. He said, this step must be accompanied by the establishment of the necessary instruments for managing currency risks and reciprocal settlements.

Brazilian Minister of Foreign Affairs Mauro Vieira said, with its recent expansion, BRICS has consolidated itself as a platform for connecting some of the world’s most dynamic and prosperous economies. He said, at a time when the global economy is threatened by protectionism, economic coercion and unilateral sanctions, bringing the productive sectors closer together is more relevant than ever.