From Acronym to Alliance
What started as a catchy acronym for promising emerging markets has evolved into a significant geopolitical bloc. The group of Brazil, Russia, India, China, and South Africa has expanded, welcoming Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Indonesia
into the fold. This expansion significantly increases the bloc's economic and geographical footprint, collectively representing a substantial portion of the world's population and GDP. The growth signals a clear ambition to move beyond an economic talking shop and become a more influential force in shaping global governance, challenging a world order long dominated by Western powers. With India hosting the 18th BRICS Summit in New Delhi, the new context is one of a larger, more assertive group ready to push its agenda.
The Leaders Shaping the Narrative
The current agenda is driven by a mix of longstanding leaders and influential newcomers. India's Prime Minister Narendra Modi is chairing the 2026 summit, emphasizing themes of resilience, innovation, and sustainability. He is joined by key figures like Russia's Vladimir Putin and China's Xi Jinping, both of whom are expected in New Delhi. The presence of leaders from new members, such as Iran's Masoud Pezeshkian and representatives from Saudi Arabia and the UAE, adds new dynamics and priorities to the discussions. While some original members like Brazil's Luiz Inácio Lula da Silva are being represented by their foreign ministers, the collection of leaders highlights the group's diverse political interests, from those with overtly anti-Western stances to those navigating more neutral paths.
The Push for a New Economic Order
A central pillar of the new BRICS agenda is the push for 'de-dollarization'. This involves reducing the world's reliance on the US dollar for international trade and finance. While a full-blown common currency remains a distant prospect, practical steps are being taken. Members are increasingly settling bilateral trade in their own national currencies. There is also significant discussion around linking the digital currencies of member nations and developing systems like 'BRICS Pay' to create an alternative to Western-controlled payment networks. These initiatives, spearheaded by the bloc's New Development Bank (NDB), aim to provide member nations with greater economic sovereignty and shield them from the effects of unilateral Western sanctions.
India’s Strategic Balancing Act
For India, hosting the summit highlights its critical and complex role within the bloc. New Delhi is walking a diplomatic tightrope, championing the cause of the Global South while managing its strategic partnerships with Western countries like the United States. India has sought to frame its BRICS presidency around a constructive agenda of institutional reform and development, rather than direct geopolitical rivalry. This approach seeks to find a middle path that is non-Western but not explicitly anti-Western. The challenge for India is to navigate the internal fault lines, particularly its own longstanding border disputes with China, and build consensus within a group that includes both democratic and autocratic states with differing worldviews.
Challenges Beneath the Surface
The expanded BRICS is not without its internal tensions. The sheer diversity of its members, from their political systems to their foreign policy priorities, makes consensus difficult to achieve. The historic rivalry between India and China remains a significant challenge, requiring careful management during sideline bilateral meetings. Furthermore, while nations like Russia and Iran may push a more confrontational agenda against the West, other members like India and Brazil prefer to focus on a development-first approach. Global issues, such as the conflict involving Iran, could also create fissures within the group. The bloc's ability to overcome these internal divisions will ultimately determine whether its grand ambitions can translate into tangible changes in the global order.
