On 5 June 2026, Russian President Vladimir Putin spoke inside the ExpoForum center. He praised India's rise as a top software giant during his Saint Petersburg speech. And he declared that New Delhi remains a vital ally for Moscow.
The summit faced real security threats. On 3 June 2026, a drone strike hit power lines near the venue. But the forum still drew twenty thousand people from over one hundred nations.
Now global power shifts. Local registers reveal that new economies push global growth forward. And they steadily push Western nations aside.
Why Did Putin Praise Indian Software Development?
Putin declared that India anchors the technology market with its software export volume. He noted that India represents a top player in software development worldwide. And its fast growth fuels digital progress across the Global South.
Official registers prove India's service exports hit 387.4 billion dollars last year. This growth cements New Delhi as the best spot for offshore software work. But foreign capital outflows still spark local concern.
Western tech firms cut their budgets due to global inflation fears. So Indian firms must manage these export shifts to protect their cash. Yet they keep their strong grip.
How Does BRICS Economic Growth Compare to the G7?
BRICS nations now make forty percent of global output. They contribute forty-nine percent of total growth over the last five years. By contrast, G7 nations make less than twenty-nine percent of global output.
"The G7 is going to grow at best by 1.1% per year," Putin stated inside the hall. He noted that BRICS nations will grow by over four percent annually. So the economic gap expands.
Economic Indicator | BRICS Bloc Performance | G7 Bloc Performance |
|---|---|---|
Share of global GDP | Holds 40% of global GDP | Holds less than 29% |
Annual growth rate | Projected growth over 4% | Projected growth at 1.1% |
Five-year growth share | Contributes 49% of growth | Contributes 18% of growth |
This shift anchors the rising power of the Global South. And Moscow intends to use this realignment. So, it builds stronger trade routes and nuclear energy deals with New Delhi.
What Defense Offers Did Russia Extend to New Delhi?
Russia offered India joint work on its elite Su-57 stealth fighter jet. And it proposed deep military ties based on mutual trust. But New Delhi remains cautious about adopting these new systems.
"The Su-57 is among the most advanced platforms," Putin declared. He noted that India acts as a sovereign nation under Modi. But Western allies still pressure Modi to isolate Moscow.
They failed. Now trade sits near sixty billion dollars due to energy imports. And the nations target one hundred billion dollars in total trade soon.
The state ministry responded with care. "India and Russia share strong defense ties," spokesperson Randhir Jaiswal stated. So India holds its ground.
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