The BRICS group will generate most of the global economic growth in the coming years thanks to its size and relatively fast growth compared with that of developed Western nations, Russian President Vladimir Putin said on Friday.

The BRICS nations, comprising Brazil, Russia, India, China, and South Africa, have surpassed the G7 in GDP share, achieving over USD 60 trillion. Russian President Vladimir Putin emphasizes their growing influence in the global economy,

The Russian President hopes to build up BRICS as a powerful counterweight to the West in global politics and trade

BRICS has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates as well as Brazil, Russia, India, China and South Africa

The BRICS group, comprising Brazil, Russia, India, China, and South Africa, along with new members Egypt, Ethiopia, Iran, and the UAE, is set to become the primary engine of global economic growth. Russian President Putin aims to strengthen BRICS as a geopolitical and economic counterweight to the West.