BRICS countries overtook G7 in 2020 by making up a larger share of global GDP in PPP terms, with China & India respectively in second and third positions globally that year.

New Delhi: The Covid-19 pandemic served as a watershed moment in several ways, including marking the point when the global economic power dynamic changed in favour of developing countries. Data shows that, beginning 2020, the BRICS nations as a whole now contribute more towards global Gross Domestic Product (GDP) than the G7 industrialised nations do, in terms of purchasing power parity (PPP). Click here to read full article