A Bigger, More Assertive Bloc
The BRICS group is no longer just Brazil, Russia, India, China, and South Africa. Recent expansions in 2024 and 2025 have brought major energy and regional powers like Saudi Arabia, Iran, the UAE, Egypt, Ethiopia, and Indonesia into the fold. This larger,
more diverse membership gives the bloc significantly more economic and demographic weight. It now collectively accounts for a massive share of global population and GDP, amplifying its call for a greater voice for the Global South in international institutions. The summit in New Delhi, taking place on September 12-13, is the first major gathering where this expanded group will seek to forge a common path amid a complex global landscape.
India at the Helm
With India assuming the BRICS presidency for 2026, New Delhi has the critical task of steering the group's agenda. The official theme is “Building for Resilience, Innovation, Cooperation and Sustainability,” signalling a focus on practical outcomes over political posturing. India's leadership is seen as an opportunity to build consensus among members whose interests can sometimes diverge, particularly with new entrants like Iran and Saudi Arabia on board. Prime Minister Narendra Modi is expected to hold a series of bilateral meetings on the summit's sidelines, including with China's President Xi Jinping and Russia's President Vladimir Putin, both of whom are confirmed to attend. This makes the summit a crucial venue for high-stakes diplomacy against a backdrop of global tensions.
The De-Dollarisation Debate
A major driver of the increased attention is the bloc's sustained push to reduce dependence on the U.S. dollar. This isn't about creating a single BRICS currency, which is widely seen as unfeasible. Instead, the focus is on practical steps like increasing the use of national currencies for trade between members and linking their domestic digital payment systems. India, for instance, is promoting the integration of its Unified Payments Interface (UPI) with the systems of other member nations. The sanctions imposed on Russian banks have accelerated these efforts, as members seek to build financial infrastructure that is less vulnerable to Western-controlled networks like SWIFT. While the dollar's dominance remains firm, these initiatives represent a significant, long-term shift in the architecture of global finance.
Navigating a World of Conflict
The summit is taking place in a world defined by multiple crises, from the war in Ukraine to conflict in the Middle East. These issues are expected to feature heavily in leaders' discussions. The attendance of Russia's Vladimir Putin, in his first in-person BRICS summit outside Russia since 2022, is particularly notable. The presence of both Iran and key Gulf states within the same bloc adds another layer of complexity and diplomatic opportunity. India's challenge as host will be to find common ground on pressing global issues and reinforce the group’s calls for dialogue and a reformed multilateral system, even as its own members navigate their differing foreign policy alignments.
