An Expanded Bloc, A Bigger Agenda
The BRICS summit convening in New Delhi on September 12-13 is not the same gathering it was just a few years ago. What started as a club of five major emerging economies has evolved into an eleven-member bloc, now including Egypt, Ethiopia, Iran, Saudi
Arabia, the UAE, and Indonesia. This expansion means BRICS now represents nearly half the world's population and a significant portion of the global economy. Under India's fourth-time chairmanship, the theme is “Building for Resilience, Innovation, Cooperation, and Sustainability.” This packed agenda moves beyond political coordination to focus on practical cooperation in areas like trade, technology, energy security, and health, reflecting a more development-oriented and people-centric approach.
The Economic Focus: De-Dollarization and Development
A major economic priority for the bloc is reducing its reliance on the U.S. dollar. This 'de-dollarization' effort, championed by members like Russia and Brazil, has gained momentum as a way to insulate economies from Western sanctions and financial pressure. The agenda includes promoting the use of national currencies for trade between member countries and developing alternative payment systems. While the creation of a single common currency remains a distant and complex ambition, expect serious discussions on strengthening the New Development Bank (NDB). The NDB is a key institution for the bloc, focused on funding infrastructure and sustainable development projects in member nations, with a strategic goal of increasing lending in local currencies.
India's Delicate Balancing Act
For host nation India, the summit presents both an opportunity and a significant challenge. New Delhi must navigate a complex diplomatic landscape, balancing its role in BRICS with its strategic partnerships with the United States and other Western nations, particularly through forums like the Quad. The expanded group itself contains regional rivals, such as India and China, Iran and Saudi Arabia, and Egypt and Ethiopia, making consensus difficult to achieve. India’s leadership will be closely watched as it attempts to steer the diverse group towards common ground on issues like global governance reform, while managing sensitive geopolitical conflicts. India's stated focus is on strengthening supply chains, facilitating trade, and pushing cooperation on technology and sustainable growth.
Challenges to Unity and Cohesion
The greatest challenge for BRICS in 2026 is its own diversity. The inclusion of new members with different political systems and competing economic interests threatens to slow down decision-making, which is based on consensus. Geopolitical flashpoints, such as the war in Ukraine and tensions in the Middle East, expose deep divisions within the bloc. For example, Russia and Iran's membership complicates any unified stance that might be critical of their actions, while India and others maintain crucial ties with the West. Critics argue that these internal contradictions could undermine the group's effectiveness and limit its ability to act as a cohesive counterweight to Western-led institutions like the G7.
