What Exactly is BRICS?
BRICS is an intergovernmental organization that started as a cooperative forum for four major emerging economies: Brazil, Russia, India, and China. First conceptualized in 2001, the group held its first formal summit in 2009. It was created to challenge
the dominance of Western powers in global institutions and advocate for a more multipolar world order. In 2010, South Africa was invited to join, officially turning 'BRIC' into 'BRICS'. The bloc operates on consensus and holds an annual summit hosted by the rotating chair. In a significant development, the group expanded in 2024 and 2025, welcoming Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates, and Indonesia as full members. This expansion dramatically increased its collective economic weight and population, now representing nearly half of the world's population and around 40% of global GDP.
Who Are the Leaders?
The BRICS bloc is a meeting of powerful and diverse leaders. As of September 2026, the key figures include India's Prime Minister Narendra Modi, who holds the BRICS chairmanship for the year. Other prominent leaders include Brazil's President Luiz Inácio Lula da Silva, Russia's President Vladimir Putin, and China's President Xi Jinping. South Africa is led by President Cyril Ramaphosa. The leaders of the new member nations are also central to the group's dynamics. This includes figures like Egypt's President Abdel Fattah El-Sisi, Ethiopia's Prime Minister Abiy Ahmed Ali, Iran's President Masoud Pezeshkian, and Indonesian President Prabowo Subianto. The UAE and Saudi Arabia are typically represented by their respective heads of state or designated high-level officials like foreign ministers. The presence of these leaders, particularly at the annual summit, shapes the group's direction.
Decoding the BRICS Agenda
The BRICS agenda is broad, but it revolves around three main pillars: political and security, economic and financial, and cultural cooperation. A primary goal is reforming global governance institutions like the UN Security Council, IMF, and World Bank to give a greater voice to developing nations. Economically, the bloc focuses on increasing trade between member nations and reducing dependence on the US dollar. Initiatives like the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) were created to provide alternative sources of financing for infrastructure and to guard against global financial shocks. The agenda for 2026, under India's presidency, is themed “Building for Resilience, Innovation, Cooperation and Sustainability.” Key priorities include strengthening supply chains, cooperation on digital payments and AI, ensuring food and energy security, and promoting sustainable development.
India's Role and Strategic Interests
For India, hosting the 18th BRICS Summit in New Delhi in September 2026 is a significant diplomatic event. India was a founding member and views BRICS as a vital platform for advancing its goal of strategic autonomy—engaging with non-Western powers without being locked into a formal alliance. The platform allows India to amplify its voice on global governance reform and champion the interests of the Global South. Economically, it offers access to diverse markets and alternative financial mechanisms like the NDB, which has a regional office in Gujarat's GIFT City. However, India also performs a delicate balancing act. It navigates complex relationships within the bloc, especially with China, while maintaining its strategic partnerships with Western countries like the United States. India's leadership in 2026 aims to frame BRICS as a constructive forum focused on development, not a purely anti-Western coalition.
