Meet the Expanded BRICS Family
Originally formed by Brazil, Russia, India, and China, with South Africa joining in 2010, BRICS was seen as a club of major emerging economies. That picture has dramatically changed. Following a significant expansion, the bloc now includes Egypt, Ethiopia,
Iran, Saudi Arabia, the UAE, and Indonesia, bringing the total to 11 full members. This expansion, a key focus of recent summits, has transformed the group's scale and influence. The bloc now represents nearly half the world's population and a substantial portion of global GDP and energy resources. The leaders gathering for the 18th BRICS Summit in New Delhi, hosted by India from September 12-13, 2026, include Russian President Vladimir Putin and Chinese President Xi Jinping, marking a significant convergence of global figures.
The Agenda: More Than Just Economics
Under India's 2026 presidency, the theme is “Building for Resilience, Innovation, Cooperation and Sustainability”. While economic issues remain central, the agenda has broadened significantly. Key priorities include strengthening supply chains, boosting trade in national currencies, and enhancing cooperation on technology, artificial intelligence, and energy security. Discussions are also covering clean energy, sustainable growth, and reforms in global governance to give a greater voice to the Global South. The creation of institutional tools like the New Development Bank (NDB) underscores this practical focus, with the bank aiming to increase lending in local currencies. This shift shows a clear ambition to move beyond policy coordination toward tangible, development-oriented outcomes.
The 'De-Dollarization' Question
One of the most talked-about aspects of the BRICS agenda is the push to reduce reliance on the US dollar. This 'de-dollarization' strategy isn't about creating a single BRICS currency overnight, which is considered unrealistic. Instead, it's a gradual process focused on practical steps. These include increasing the use of national currencies for trade between member nations and developing alternative payment systems to infrastructures like SWIFT. Initiatives like BRICS Pay and connecting national digital payment systems, such as India's UPI, are central to this effort. The goal is to create more financial autonomy and insulate member economies from the volatility of the US dollar and Western financial policies.
A Challenge to the Established Order?
With its expanded membership and ambitious agenda, BRICS is increasingly viewed as a counterweight to Western-led groupings like the G7. The bloc now includes major energy producers like Saudi Arabia and Iran alongside major consumers like China and India, giving it significant leverage in global energy markets. Its collective economic and demographic weight strengthens the bargaining power of the Global South in international forums. However, the bloc is not without its challenges. The diversity of its members, which includes strategic rivals like India and China, and regional competitors like Iran and Saudi Arabia, makes consensus on sensitive geopolitical issues difficult. Conflicts in Ukraine and the Middle East highlight these internal divisions.
What This Means for India
For India, hosting the 2026 summit is a crucial diplomatic opportunity. It allows New Delhi to project its growing influence and steer the bloc's agenda. India is performing a careful balancing act, using BRICS to champion the interests of developing nations while also strengthening its partnerships with the United States and other Western powers. The platform gives India a way to engage with China, its primary strategic rival, while also deepening ties with allies like Russia. Economically, the expanded BRICS opens up new markets for Indian goods and provides a framework for securing energy needs and promoting its digital infrastructure, like UPI, on a global stage. India's leadership role allows it to shape evolving global regulations and reinforce its position as a key player in a multipolar world.
