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The President made the remarks while meeting with his election campaign activists for the first time since his inauguration on Monday.
Putin said: “We are living through times of change when the global economy is gaining a different structure and new global economic leaders are emerging.
“Primary among these are the BRICS countries: Brazil, Russia, India, China, and South Africa.”
The BRICS countries now account for 40 per cent of the world’s population and an estimated 20 per cent of global GDP (gross domestic product).
“The Asia-Pacific region is developing at a rate that gives us every reason to expect a change in global economic leadership over the next decade” said Putin.
Putin’s statement comes shortly before a visit to Russia by Brazilian President, Dilma Rousseff.
The agenda of the visit will primarily focus on expanding and diversifying bilateral trade ties.
The Russian President is set for an official visit of his own to India on December 24.
The BRICS Post