Last month, American economist Richard Wolff highlighted the diminishing influence of the US over India, saying that trying to dictate terms to India is like “a mouse punching an elephant”—more amusing than threatening. His statement reflects a larger shift in the global economic landscape, the most significant since World War II, as Western dominance steadily declines.

BRICS Surpasses the G7
The rise of BRICS countries—Brazil, Russia, India, China, South Africa, and newer members like Saudi Arabia, Egypt, Ethiopia, Iran, and the UAE—is reshaping global economic power. Combined, BRICS accounts for 35% of global production, overtaking the G7, whose share has fallen to about 28%. On a purchasing power parity (PPP) basis, BRICS represents 40% of the global economy, expected to reach 41% in 2025, while the G7 continues to decline.

IMF projections for 2025 indicate strong growth for BRICS countries: Ethiopia (6.6%), India (6.4%), Indonesia (4.7%), UAE (4%), and China (4%). China leads in global GDP share with 19.6%, followed by India (8.5%) and Russia (3.4%). These figures underscore that BRICS is not only an economic force but also a political alternative to the US-dominated G7.

Economic Growth and Political Weight
While G7 growth is projected to slow to 1.2% in 2025, BRICS averaged 4% last year and is expected to maintain 3.4% growth. This trend signals a shift in global influence, with BRICS countries leveraging their combined population, resources, and industrial capacity to challenge Western hegemony.

India’s Strategic Role
India sits at the center of this transformation. As the world’s most populous country, it plays a pivotal role in BRICS’ rising influence. India’s refusal to comply with Western pressure on Russian oil imports demonstrates its growing autonomy, showing that tariffs or sanctions cannot dictate its decisions. This autonomy strengthens BRICS’ integration as an economic bloc, offering a viable alternative to Western-led systems.

Washington’s Missteps
The US has expressed frustration over BRICS’ rise. White House trade adviser Peter Navarro even called the Ukraine conflict “Modi’s war,” criticizing India for importing Russian oil. Yet such rhetoric fails to counter the structural shifts. High US federal debt, rising to around $36 trillion, contrasts with BRICS nations investing in infrastructure, exports, and urbanization, giving them long-term advantages.

The Message to the West
BRICS’ ascent is a clear signal that the G7’s dominance is waning. The combination of fast-growing economies, demographic strength, and strategic partnerships between India, Russia, and China is creating a multipolar world order where the West’s influence is increasingly limited. The era of unilateral Western economic control is over, and BRICS is emerging as the new fulcrum of global power.