Putin Hails India as World’s Third Strongest Economy, Rejects G8 Relevance.
Russian President Champions New Delhi’s Economic ‘Miracle,’ Dismisses G8 Rejoin as Global Power Shifts Eastward
Putin’s Strong Endorsement: India’s Economy Ranks Third Globally
Russian President Vladimir Putin has delivered a significant geopolitical statement, firmly asserting that India’s economy now ranks as the third largest in the world in terms of purchasing power parity (PPP). During a recent exclusive interview, Putin lauded India’s post-independence journey as “almost like a miracle,” directly crediting Prime Minister Narendra Modi’s leadership for steering the country to a consistent 7% annual growth rate. This bold claim places New Delhi firmly in the top tier of global economic powerhouses, a narrative strongly endorsed by the Kremlin.
The Russian President pointed to the shrinking share of the global economy held by several Western nations, arguing that established groups like the G7 (formerly G8) are losing their relevance in a multipolar world. He specifically mentioned that G7 members, including the United Kingdom, now rank significantly lower than India in global parity measurements. This analysis provides a compelling argument for the growing economic power shift towards the Indo-Pacific region.
Russia Sees No Need for G8 Membership
The statement comes amid ongoing speculation regarding Russia’s potential return to the Group of Eight (G8), from which it was suspended in 2014. President Putin categorically ruled out any intention of rejoining the G8, stating that he had stopped attending such meetings years ago and did not view the grouping as a necessary platform for Moscow’s foreign policy.
Putin emphasized that Russia is fully engaged in more relevant international alliances that reflect the current global order, specifically citing the BRICS group, the Shanghai Cooperation Organisation (SCO), and the G20. His disinterest in the G7/G8 is tied to a perceived lack of dialogue and the strained relationship with European nations. Russia, he indicated, is focused on building ties with non-Western partners like India, who are driving the next wave of global economic growth.
The Future of Global Economic Groupings
ExploreThis dual statement—elevating India’s economic status while diminishing the G7’s relevance—underscores Russia’s strategic pivot toward a new, non-confrontational alignment with major emerging economies. By highlighting the strength of India’s PPP-adjusted economy, Putin is effectively challenging the long-standing Western-centric framework of global economic governance. The remarks serve as a major endorsement for New Delhi and a sharp critique of the financial health of advanced Western economies, some of which are currently grappling with recessionary pressures. The focus on BRICS and G20 confirms Moscow’s commitment to multilateral forums that include a wider, more representative array of global powers.