BRICS nations ramp up industrial production with energy access as Western economies decline, economist says

MOSCOW, September 21. /TASS/. Access to necessary energy supplies is enabling BRICS nations - including Russia - to ramp up industrial production against the backdrop of declining performance in Western economies, Vasily Koltashov, an economist and Director of the Institute of the New Society, has said in an opinion piece for TASS.

"BRICS leaders have been working to supplant ailing Western industry, securing new positions within the international division of labor. Consequently, global industrial growth in 2026 has been uneven: Western nations have posted the poorest results, raising serious concerns," the expert noted.

According to Koltashov, China saw a 5.2% year-on-year increase in industrial production in August 2026. Equipment manufacturing rose by 12.1%, while high-tech production grew by 16.7%.

"Industrial growth in India was even higher, and the machinery manufacturing sector continued to expand in Russia as well," he pointed out.

In Russia, Koltashov noted, machinery manufacturing continued to grow, whereas Western countries showed the weakest industrial performance. The expert also highlighted the availability of oil to the West's rapidly growing competitors.

The current energy crisis differs from the events of 1973 - 1985 due to the presence of rapidly growing industrial and technological competitors challenging the West, Koltashov emphasized.

"Back then, the West didn't face rapidly growing, sophisticated competitors in industry and technology. Now it does, and these competitors have access to the oil they need," the expert concluded.