An Expanded Global Force
Originally a club of five major emerging economies—Brazil, Russia, India, China, and South Africa—BRICS has recently undergone a significant transformation. The bloc has expanded, welcoming new members including Egypt, Ethiopia, Iran, Saudi Arabia, the
United Arab Emirates, and Indonesia. This larger group is a formidable force, collectively representing nearly half of the world's population and approximately 40% of the global GDP. What began as a forum to discuss economic issues has evolved into a geopolitical platform with far-reaching influence, giving a louder, collective voice to the nations of the Global South seeking to reform a world order long dominated by Western powers.
India in the Driver's Seat
The "latest story" for BRICS is India's role as its 2026 chair, culminating in the 18th Leaders' Summit in New Delhi. This year also marks the 20th anniversary since the group's inception, adding symbolic weight to India's leadership. New Delhi has set the theme as ‘Building for Resilience, Innovation, Cooperation and Sustainability,’ signaling a clear intent to focus on tangible outcomes over ideological posturing. Under its presidency, India has pushed for practical cooperation on multiple fronts, including the adoption of a unified counter-terrorism plan, advancing digital health initiatives, and creating frameworks for energy security and climate-resilient urban infrastructure. The goal is to convert political dialogue into concrete projects that benefit all member states.
The Economic Engine: New Development Bank
Perhaps the most tangible benefit of BRICS for India is the New Development Bank (NDB). Established in 2015, the NDB was created to fund infrastructure and sustainable development projects in member countries, providing a crucial alternative to Western-led institutions like the World Bank and IMF. India has been a significant beneficiary. As of August 2026, the NDB had approved around USD 10.5 billion for 35 projects across India. This funding supports everything from metro rail systems in Lucknow and Delhi-Meerut to road networks in Madhya Pradesh and affordable housing projects. Furthermore, there is a growing push within the bloc to settle trade in local currencies, a move that could reduce dependence on the US dollar and strengthen India's financial autonomy.
A Strategic Megaphone for India's Ambitions
Beyond the economic gains, BRICS serves as a vital strategic platform for India. It allows New Delhi to advance its long-held foreign policy goal of strategic autonomy—the ability to engage with multiple power centers without being locked into a single alliance. It is one of the few global forums where Indian leaders can engage directly with China and Russia while simultaneously strengthening partnerships with the United States and Europe. This unique position allows India to act as a bridge between geopolitical camps and champion the interests of the Global South. For India, BRICS is a key instrument for shaping a multipolar world order where developing countries have a greater say in global governance.
Navigating a Complicated Balancing Act
Despite its potential, the bloc is fraught with challenges, and India's leadership requires a delicate balancing act. The expanded membership has magnified internal divisions, with competing interests among members like India and China, or Iran and Saudi Arabia. A major challenge for India is to prevent the group from becoming an explicitly anti-Western coalition, a direction favored by members such as China, Russia, and Iran. India has no interest in such a confrontation, as its growth depends on continued access to Western markets, capital, and technology. New Delhi has therefore positioned itself as a moderating force, steering the agenda towards practical economic cooperation and development, thereby preventing the forum from being defined purely by geopolitical rivalry.
