India’s BRICS Moment: How New Delhi Could Turn Its 2026 Chairship Into Economic Gains

India will host the 18th BRICS Summit in New Delhi on September 12-13, bringing together leaders of one of the world’s largest groupings of emerging economies and developing countries.

For India, the summit comes at a time when BRICS has expanded beyond its original five-member format and is seeking a larger role in global economic discussions. As chair of the grouping in 2026, New Delhi is looking to use the platform to push areas where it sees direct benefits — from trade and payments to technology and development cooperation.

But what does India actually gain from hosting BRICS?

More Trade Opportunities For Indian Businesses

A key priority for India is making BRICS more commercially useful.

While the grouping represents a large economic market,

businesses operating across member countries still face challenges, including payment difficulties, certification barriers and limited access to financing.

India’s agenda focuses on improving trade facilitation, strengthening supply chains and making it easier for small businesses to participate in global markets.

“India should use its BRICS presidency to secure faster export payments, fewer certification hurdles and financed infrastructure projects,” Vaibhav Maloo, managing director of Enso Group and president of Enso Foundation, told Fortune India.

Maloo said India’s exports to BRICS were estimated at $82 billion in goods in FY2025-26, while services exports stood at $31.3 billion in calendar year 2024.

He identified pharmaceuticals, engineering, digital services, energy security and critical mineral supply chains as areas where India could benefit.

For Indian companies, the importance of BRICS will depend on whether cooperation translates into easier business conditions. Maloo told Fortune India that the grouping should focus on MSME export finance, mutual recognition of testing procedures and simpler customs processes.

Why India Is Pushing Its Digital Payments Model

A second area where India is seeking gains is financial connectivity.

New Delhi has been advocating stronger cross-border payment systems and greater use of local currencies among BRICS members. The focus is not on creating a separate BRICS currency but on improving how countries conduct transactions with each other.

India’s digital public infrastructure, particularly UPI, is central to this effort.

A CareEdge-ORF report on SME financing across BRICS+ economies said India’s digital finance infrastructure could provide a model for cross-border SME payments and trade finance.

The report recommended developing a BRICS+ Digital Payments and Open Finance Framework based on interoperable national payment systems, common technical standards and secure data-sharing protocols.

For India, the discussion provides an opportunity to showcase its digital infrastructure while pushing for easier financial links between emerging economies.

A Bigger Role In Shaping The Global South Debate

Beyond economics, BRICS gives India a platform to strengthen its position among developing countries.

The grouping has increasingly become a forum where emerging economies discuss issues related to global economic governance and reforms in institutions such as the United Nations, IMF and World Bank.

At a conference titled ‘An Emerging BRICS Vision for the Global South’, Sudhakar Dalela, Secretary (Economic Relations) at the Ministry of External Affairs, said BRICS had expanded beyond its original economic purpose.

“BRICS has evolved beyond an economic grouping into a dynamic platform for the Global South’s strategic and developmental aspirations,” he told IANS.

Dalela said future cooperation would depend on how effectively BRICS members combine technology and trade policies.

“The next phase of BRICS cooperation will be defined by how effectively the grouping integrates technology and trade policies. Therefore, BRICS Plus must leverage its vast resource base to develop joint ventures in rare earth extraction, renewable energy, and green manufacturing,” he told IANS.

Technology And Energy: Areas Where India Wants Deeper Cooperation

India is also using its chairship to push cooperation in sectors that could have long-term economic relevance.

In technology, New Delhi has proposed initiatives such as the BRICS Startup Innovation Fund, the BRICS Incubator Network and the BRICS Digital Public Infrastructure Repository.

The aim is to connect startup ecosystems, share digital solutions and encourage cooperation in emerging technologies.

Energy is another important area because BRICS includes both major energy producers and consumers.

Following the BRICS Energy Ministers’ Meeting in Gurugram, members adopted principles on smart grids and launched the BRICS Digital Centre of Excellence for Smart Grids and Energy Storage. The initiative is expected to support cooperation in renewable energy, hydrogen, biofuels, critical minerals and carbon capture technologies.

The BRICS Balancing Act

While BRICS gives India a larger global platform, the grouping also comes with challenges.

The expanded bloc includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Saudi Arabia, Iran, the UAE and Indonesia — countries with different economic and geopolitical interests.

For New Delhi, this creates both opportunities and complications.

India has to balance its engagement with BRICS members while maintaining its broader relationships with the US, Europe, Japan and other partners.

The success of India’s chairship will therefore depend on whether the grouping can move from broad commitments to outcomes that member countries can use.