First, What Is BRICS?
BRICS is a grouping of major emerging economies. Originally comprising Brazil, Russia, India, and China, it was formed to amplify the voices of these nations in global governance. South Africa joined in 2011, adding the 'S' to the acronym. More recently,
the bloc has expanded significantly, welcoming Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Indonesia. Today, the 11-member group represents nearly half the world's population and 40% of global GDP. Its agenda now covers three main pillars: political and security, economic and financial, and cultural and people-to-people exchanges. As of September 2026, India is hosting the 18th BRICS Summit in New Delhi, marking its fourth time as chair and the 20th anniversary of the group's formation.
The Economic Engine for India
For India, a key benefit of BRICS is economic cooperation. The bloc's most tangible achievement is the New Development Bank (NDB), headquartered in Shanghai. The NDB was created to fund infrastructure and sustainable development projects in member countries, offering an alternative to Western-dominated institutions like the World Bank and IMF. As of August 2026, the NDB had approved nearly USD 10.5 billion for 35 projects in India, spanning transport, renewable energy, and urban development. These projects include metro systems in major cities and road projects in states like Madhya Pradesh. Furthermore, the NDB is increasingly focused on lending in local currencies, with plans for a significant rupee bond program in India to reduce currency risks for borrowers.
A Platform for Strategic Autonomy
Beyond economics, BRICS provides India with a crucial platform to practice its long-held foreign policy of 'strategic autonomy'. The forum allows India to engage with countries like China and Russia without undermining its partnerships with the US and Europe. This balancing act is central to India's ambition of being a 'leading power' rather than just a 'balancing power'. The bloc serves as a vital stage for India to project its influence and champion the interests of the Global South—a core objective of its foreign policy. In a world marked by geopolitical tensions, BRICS offers a space for dialogue and coordination outside of traditional Western alliances.
Champion of the Global South
BRICS has evolved into the principal forum where major emerging nations shape a common position on global governance. It has become a key channel for advancing the interests and increasing the influence of the developing world, often referred to as the Global South. This role aligns perfectly with India's consistent efforts to be a leading voice for these nations. During its 2026 chairship, India has focused on practical cooperation in areas like health, digital technology, and climate action, anchoring discussions around shared priorities such as resilient supply chains and UN Security Council reform. By doing so, India uses the platform to build consensus and address the developmental challenges faced by many countries.
The Current Status: Challenges and Opportunities
India's 2026 BRICS chairship comes at a time of significant global flux. The key challenge for the bloc is maintaining unity among its diverse members, who have differing strategic interests. A major complexity for India is navigating its relationship with China, a fellow member but also a strategic rival. There are concerns that the bloc could be perceived as an anti-Western group, a narrative India has actively worked to counter by focusing on a constructive, development-oriented agenda. The ongoing BRICS Summit in New Delhi, held from September 12-13, 2026, focuses on the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” Leaders are discussing trade, energy security, and global conflicts, with India aiming to steer the conversation toward practical outcomes that benefit all members.
