Claim: A BRICS common currency is about to dethrone the dollar.
This is the most persistent and exaggerated claim surrounding BRICS. While the goal of 'de-dollarization' is real, it doesn't mean a single BRICS currency is imminent. The actual focus is far more practical: increasing the use of national currencies in bilateral
trade. For example, India has been paying for some oil imports in rupees. The summit's agenda includes discussions on making digital payment systems between member countries interoperable. However, creating a unified currency like the Euro is a vastly complex undertaking that members, including 2026 host India, have openly stated they do not support at this time. Indian officials have been clear that the goal is about efficiency and resilience, not launching a campaign to replace the dollar. The U.S. dollar still dominates global trade and reserves, accounting for the vast majority of foreign exchange transactions.
Fact: The summit in New Delhi is a major diplomatic and security event.
The preparations on the ground in New Delhi are extensive and concrete. As host, India has rolled out a massive security operation, deploying thousands of police and paramilitary personnel. The summit venue, Bharat Mandapam, has undergone a significant makeover, and the city is decked out to welcome numerous world leaders. Russian President Vladimir Putin is among those who have arrived, with a bilateral meeting with Prime Minister Narendra Modi scheduled. Leaders and representatives from all 11 member nations and 10 partner countries are attending, making it a significant gathering of the Global South. The agenda is packed, with sessions focused on inclusive global governance, multilateralism, and shaping future global growth.
Claim: BRICS has massively expanded and is now a unified bloc.
The expansion is a fact. The group has grown from its original five members to eleven, with Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Indonesia joining in 2024 and 2025. A new category of 'partner countries' has also been created. This expansion significantly increases the bloc's share of global population and GDP. However, 'bigger' does not automatically mean 'unified'. This rapid growth has made achieving consensus more complicated, as new members bring their own diverse foreign policy priorities and regional interests. India has been actively working to ensure new members subscribe to the principle of consensus, a key challenge amid deepening global divisions. So, while BRICS is a more significant platform, it is best seen as a coalition of diverse interests rather than a monolithic alliance.
Fact: The real agenda is focused on economic cooperation and resilience.
Beyond the headlines, the core of the summit's work is economic. India's theme for its 2026 chairship is “Building for Resilience, Innovation, Cooperation and Sustainability”. The practical agenda items reflect this. Discussions will center on strengthening cooperation in trade, technology, and building resilient supply chains for food and energy. According to External Affairs Minister S. Jaishankar, a key focus for India is to integrate a clear business perspective into the bloc's agenda, leveraging India's market, manufacturing, and digital capabilities. Proposals include a BRICS invoice discounting mechanism to help small businesses and an action plan to diversify global value chains, making them more efficient and secure.
