Putin praises India's IT sector, says it is 'one of the leading players in the industry' - Moneycontrol.com

Published 5 June 2026 · india

Russian President Vladimir Putin praised India's IT sector at the St Petersburg Economic Forum, calling the country a key partner and one of the world's

Russian President Vladimir Putin praised India's IT sector at the St Petersburg Economic Forum, calling the country a key partner and one of the world's leading players in the global software industry. Putin praises India's IT sector, says India is 'one of the leading players in the industry' Russian President Vladimir Putin on Friday praised India's technology sector, describing the country as one of the leading players in the global IT industry and a key partner of Russia. Speaking at the Saint Petersburg International Economic Forum, Putin highlighted India's growing role in the digital economy and its contribution to the global software market. "Another of our key partners, India, is one of the leading players in the IT industry." "It accounts for a significant share of the global software market," he added.

Russian President Vladimir Putin says, "Another key partner of ours is India, which is one of the leading players in the IT industry. It accounts for a significant share of the global software market..." (Pic Source: Russian Pool via Reuters) pic.twitter.com/lFja4dcDky — ANI (@ANI) June 5, 2026 Putin made the remarks while discussing the growing economic and technological influence of emerging economies, particularly the Brics grouping. Addressing the forum, the Russian leader said Brics countries are contributing a larger share to global economic growth than the G7 nations. "If you look at the global GDP dynamics of the last five years, you will see that almost half of its annual growth, 49%, is accounted for by Brics countries, whereas the contribution of the so-called group of seven is estimated at 18%...," Putin said.

"The share of Brics and the world GDP based on purchasing power parity stands at 40%, whereas the G7 share is less than 29%," he said. "So Brics has already overtaken the G7, and it did so back in 2020, but this gap is increasing. This gap is expected to grow in favour of Brics..." he added. Putin also projected stronger growth for Brics economies in the coming years. "The G7 is going to grow at best by 1.1 % per year, whereas Brics nations are going to grow by more than 4%," he said. The Brics grouping, which now includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia, has expanded significantly in recent years.

India currently holds the Brics presidency. Putin's remarks come amid continuing debate over the role of Brics in the global economic order and growing tensions between the bloc and Western economies. "The sanctions and blocking of Russia's sovereign reserves have irreversibly impacted the standing of international currencies, the dollar and the euro," he said.