BRICS GDP Growth Hits 4.5x as Bloc Takes 40% of World Economy

The combined gross domestic product of BRICS member states has grown nearly 4.5 times over the years. This expansion outpaces the 2.5-fold increase in global GDP. Prime Minister Narendra Modi presented these figures on Friday. He addressed the Leaders’ Session of the BRICS Business Forum in New Delhi. The bloc now accounts for 40% of global GDP. It represents 50% of the world’s population. International trade from the group exceeds 25% of the total.

These statistics mark a shift in the economic landscape. BRICS has moved beyond a grouping of emerging markets. It is now a central component of global economic activity. The expanded bloc includes 11 countries. Official data places their population share at 49.5%. Their trade share stands at 26%. This scale offers a vast consumer base and production capacity.

Innovation drives new economic growth

Modi identified innovation as a key driver of this expansion. He noted that BRICS countries are becoming major hubs for technology. This includes grassroots initiatives and frontier technologies. The agenda now extends beyond traditional trade in goods. It includes digital solutions and innovation-led business models. This aligns with India’s effort to use the forum for commercial integration.

Supply chain security remains priority

The Prime Minister linked global trade to secure maritime routes. He emphasized the need for open supply routes and safe seafarers. Geopolitical conflicts have increased the urgency of this issue. The BRICS Business Forum discussed strengthening trade and supply chains. This includes addressing logistical and regulatory bottlenecks. India seeks to convert this economic weight into intra-group trade and investment.

Industry supports cooperative trade agenda

The industry body ASSOCHAM welcomed the focus on resilience. President Nirmal K. Minda supported the vision for a stronger Global South voice. He cited trade, investment, and technology partnerships as key opportunities. The BRICS Business Forum concluded on September 11. This event preceded the 18th BRICS Leaders’ Summit. The summit took place in New Delhi on September 12 and 13. According to GN markets/growth (en-US), these figures highlight the bloc's rising economic influence.