From Acronym to Alliance
The term 'BRIC' was first coined in 2001 by economist Jim O'Neill to group four major emerging economies: Brazil, Russia, India, and China. What started as an investment thesis soon took on a political life. The foreign ministers of the four nations held
their first formal meeting in 2006, leading to the inaugural leaders' summit in 2009. In 2010, the group invited South Africa to join, officially turning BRIC into BRICS. The bloc has since undergone a significant expansion. In January 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates became full members, with Indonesia following in 2025. Saudi Arabia has also been invited and is treated as a member in official communications, bringing the group to eleven nations that collectively represent a substantial portion of the world's population and economy.
The Faces of the Expanded Bloc
The leadership of BRICS is a diverse mix of powerful figures from across the Global South. The upcoming 18th BRICS Summit in New Delhi, hosted by Indian Prime Minister Narendra Modi, will see many of these leaders convene. Key attendees expected include China's President Xi Jinping and Russia's President Vladimir Putin, whose participation underscores the bloc's role as a forum independent of Western influence. Leaders from the newer member states are also central to the group's dynamic, including Iranian President Masoud Pezeshkian, Egyptian President Abdel Fattah El-Sisi, Ethiopian Prime Minister Abiy Ahmed, and Indonesian President Prabowo Subianto. South African President Cyril Ramaphosa represents the first country added to the original bloc. Brazil and the UAE are expected to be represented by their foreign minister and crown prince, respectively.
An Ambitious Agenda for a New Order
The core agenda of BRICS revolves around creating a more 'multipolar' world by reforming global governance and financial institutions to better represent developing nations. A key objective is to reduce dependency on the US dollar for international trade and establish alternative payment systems, such as by linking the digital currencies of member nations. Under India's 2026 chairship, the theme is “Building for Resilience, Innovation, Cooperation and Sustainability.” This translates into practical goals like strengthening supply chains, cooperating on artificial intelligence, ensuring energy and food security, and financing development projects through institutions like the New Development Bank (NDB), a BRICS-founded alternative to the World Bank. The agenda also includes collaboration in health, agriculture, and technology.
Navigating Unity and Division
Despite its unified front on certain issues, the expanded BRICS is not without internal friction. The bloc's growing size has exposed differing foreign policy priorities among its members. For instance, the group includes historic rivals like India and China, as well as Iran and Saudi Arabia. Navigating these complex relationships is a significant challenge. Global conflicts also test the bloc's cohesion. While members may agree on broad principles like supporting a Palestinian state, achieving a unified stance on specific conflicts involving members like Iran or Russia can be difficult. India, as the 2026 chair, plays a crucial balancing act, maintaining strong ties with Western powers like the United States through forums like the Quad, while also steering the non-Western BRICS agenda. This requires focusing on shared development goals to prevent geopolitical rivalries from fracturing the group.
