BRICS economies grow 4.5 times against 2.5-fold rise in global GDP, account for 40% of world economy: PM Modi

Prime Minister Narendra Modi on Friday highlighted the rapidly expanding economic weight of BRICS, saying the combined GDP of its member economies has grown nearly 4.5 times over the years, compared with around 2.5 times growth in global GDP.

Addressing the Leaders’ Session of the BRICS Business Forum in New Delhi on September 11, Modi said BRICS countries now account for 50% of the world’s population, 40% of global GDP and more than 25% of international trade. The figures underline the growing importance of the expanded grouping as an economic platform for major emerging markets.

“BRICS countries represent 50% of the world’s population, 40% of global GDP and more than 25% of global trade,” Modi said, adding that the grouping had become “an important component of the global economy.”

BRICS GDP growth outpaces global expansion

Modi’s comparison between BRICS and global GDP growth was the central economic takeaway from his address.

“Global GDP has increased by around 2.5 times, while the combined GDP of BRICS countries has increased nearly 4.5 times,” he said.

The numbers point to the transformation of BRICS from a grouping defined largely by its emerging-market potential into a substantial component of global economic activity. The expanded bloc now comprises 11 countries, with official Indian government data putting its combined share at 49.5% of global population, 40% of global GDP and 26% of global trade.

For businesses, that scale translates into a vast combined consumer base, significant production capacity and opportunities to expand trade and investment links across Asia, Africa, the Middle East and Latin America.

Innovation emerges as another growth engine

Modi also sought to position innovation and technology as increasingly important drivers of BRICS’ economic expansion.

“BRICS countries are also emerging as major hubs of innovation,” he said, pointing to “grassroots initiatives to frontier technologies.”

The emphasis broadens the economic agenda beyond conventional trade in goods and commodities. It puts technology, digital solutions and innovation-led business models alongside manufacturing and investment as potential areas for deeper cooperation.

For India, the focus also fits its broader effort to use BRICS as a platform for greater commercial integration and partnerships in new-age sectors.

Supply-chain resilience takes centrestage

Modi also connected the future of global trade with the security of maritime routes and uninterrupted supply networks, an issue that has acquired greater urgency amid geopolitical conflicts and disruptions to major shipping corridors.

“Global trade can move forward only when maritime routes are secure, supply routes remain open and seafarers are safe,” he said.

The comments underline the business case for more diversified and resilient supply chains within BRICS. The grouping’s Business Forum itself has placed strengthening trade and supply chains among its key areas of discussion, including greater integration across sectors and addressing logistical and regulatory bottlenecks.

Against this backdrop, India is seeking to translate BRICS’ rising economic weight into greater intra-group trade, investment, innovation partnerships and supply-chain connectivity. The BRICS Business Forum held on September 11 is part of the economic engagement leading into the 18th BRICS Leaders’ Summit in New Delhi on September 12–13.

ASSOCHAM backs outcome-oriented BRICS agenda

Industry body ASSOCHAM welcomed Modi’s vision of strengthening BRICS as a platform for global cooperation and a stronger voice for the Global South, saying the focus on resilience, innovation, cooperation and sustainability could deepen economic engagement. ASSOCHAM President Nirmal K. Minda said greater trade, investment, technology, startup and business partnerships could create new opportunities for inclusive growth, while measurable targets such as reducing trade barriers and expanding cross-border business partnerships could translate BRICS’ economic scale into tangible opportunities for enterprises and investors.