Taking part in the meeting of BRICS heads of delegation are President of Russia Vladimir Putin, President of Egypt Abdel Fattah el-Sisi, Prime Minister of India Narendra Modi, President of Indonesia Prabowo Subianto, President of Iran Masoud Pezeshkian, President of China Xi Jinping, Prime Minister of Ethiopia Abiy Ahmed, President of South Africa Cyril Ramaphosa, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council (UAE) Khaled bin Mohamed bin Zayed Al Nahyan, Foreign Minister of Brazil Mauro Luiz Iecker Vieira.
Prior to the meeting, Prime Minister of India Narendra Modi held an official welcoming ceremony for the Summit participants.
The meeting participants will address initiatives put forward under India’s chairmanship, prospects for further strengthening the BRICS strategic partnership in politics and security, economics and finance, and cultural and humanitarian ties, as well as pressing international and regional issues.
The 18th BRICS summit adopted the New Delhi Declaration.
Following the session, the President of Russia and the heads of the BRICS delegations toured the Bharat Innovates exposition and a photo exhibition marking the 20th anniversary of BRICS.
The leaders then gathered on the grounds of the Bharat Mandapam exhibition complex, the main venue of the summit, where Vladimir Putin joined his BRICS counterparts for a ceremonial tree planting. The ceremony was preceded by a group photo session.
In the evening, the President of Russia attended a gala reception hosted by the Prime Minister of India in honour of the heads of delegations attending the BRICS Summit in New Delhi.
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Address by the President of Russia at a meeting of the 18th BRICS Summit
President of Russia Vladimir Putin: Mister Prime Minister Modi,
Colleagues,
Friends,
As has been emphasised, BRICS countries continue to deepen their interaction in all key areas. This concerns politics and security, the economy and finance, as well as the cultural and humanitarian spheres. My colleagues have already noted that BRICS is now, in fact, the world’s largest association. They also said that we cover a third of the Earth’s surface, account for 40 percent of global GDP, and are home to nearly half of the planet’s population.
However, I also want to draw your attention to a circumstance, which in contemporary conditions, I think, may be the key one: our countries possess a huge, enormous intellectual and technological potential. This is what our substantial advantage, to my mind.
Partnership within BRICS is consistently built on the principles of equality, good-neighbourliness, and mutual consideration of interests – along with respect for one another’s cultural and civilisational diversity, history, traditions, and values. It stands to reason, then, that the credibility and influence of BRICS around the globe are steadily growing.
The association has rightly established itself as a key centre of global governance, and the future of international politics, security, the economy, and humanitarian cooperation largely depends on our collective decisions and actions.
Given this, I think that the subject of today’s session, “Inclusive Global Governance and Strengthening Multilateralism, proposed under the Indian chairmanship, is highly relevant. Indeed, amid the emergence of a multipolar international order, it is more important than ever to strengthen genuine multilateralism, involve more countries in global governance mechanisms and the activities of key international political and economic institutions, as well as in the search for responses to acute challenges and threats and in efforts to ensure international peace and stability for the sake of universal prosperity and well-being.
The world is undergoing profound geopolitical, geoeconomic, technological and social transformations. These changes are affecting virtually every aspect of human life, from lifestyles and healthcare standards to environmental quality. The structure of society itself is evolving, along with the global demographic landscape. The unipolar system of international relations, which served the interests of a narrow group of countries, is gradually becoming a thing of the past. The global balance of power is shifting towards new centres of growth in the Global South and East. More and more countries are openly asserting their determination to defend their national interests and take part in addressing global challenges.
However, the transition towards a multipolar world is not without difficulties. As we can all see it, it is being resisted by those who remain accustomed to thinking in colonial terms, dividing the world into a flourishing garden and a wild jungle and seeking to prosper at the expense of others. Unwilling to accept the new realities, they are using every means at their disposal to hold back emerging competitors.
These methods range from tariff wars and illegitimate sanctions to economic pressure and blackmail, interference in the internal affairs of sovereign states and direct use of force. Existing hotbeds of tension are being deliberately fuelled, while new conflicts and divisions are being provoked. As a result, the entire system of international relations is malfunctioning, while multilateral institutions and mechanisms are becoming less effective.
Against this backdrop, Russia considers it particularly important to preserve and strengthen the United Nations’ central role in global affairs. The UN Charter remains the cornerstone of international law, despite the attempts by certain countries to replace it with a so-called “rules-based order,” founded on rules devised by no one knows whom. We believe that, together with our BRICS partners, we must continue working to make the United Nations more effective. Expanding the Security Council, in particular, by ensuring greater representation for countries from Asia, Africa and Latin America, would certainly help achieve this goal.
The need to improve the system of global economic governance has long been evident. Institutions such as the International Monetary Fund, the World Bank and the World Trade Organisation were created in very different political and economic realities and are finding it increasingly difficult to adapt to a world in which economic activity is steadily shifting towards emerging markets.
At the same time, the IMF, the WTO and the World Bank remain important platforms for dialogue among the world’s leading economies, so, it is essential to strengthen coordination among our countries within these institutions. It is worth recalling that, during Russia’s BRICS chairmanship in 2024, a dedicated consultation mechanism on WTO-related issues was established.
I would like to emphasise that, in today’s world, simply modernising existing governance institutions is no longer enough. Entirely new, rapidly developing sectors have emerged, including the platform economy, financial technologies and digital trade. Each requires its own institutions and regulatory frameworks, and our association could take a leading role in shaping them. As has already been noted, work in this area is underway. The People’s Republic of China, Russia and other BRICS countries were among the founding members of the World Artificial Intelligence Cooperation Organisation, established in Shanghai this July.
I would also like to draw attention to several practical Russian initiatives. These include developing payment, settlement and depository infrastructure within BRICS, as well as creating there a new investment platform, a reinsurance mechanism and a grain exchange.
It is encouraging to see the strong interest shown by the business community in deepening economic interaction among BRICS countries. As you know, this was discussed yesterday at the plenary session of the Business Forum. Business leaders and members of the BRICS Business Council have proposed a broad range of initiatives aimed at advancing practical cooperation, and a number of ambitious multilateral projects are already being planned.
In conclusion, I would like to emphasise once again that the BRICS Summit here in New Delhi has demonstrated the considerable potential of our association to further expand mutually beneficial cooperation and improve the global governance system, helping to build a genuinely multipolar and more equitable world order.
Finally, I would like to thank Prime Minister of India Narendra Modi and all our Indian colleagues for creating such a wonderful, hospitable, and welcoming atmosphere for our work.
Thank you very much.