NEW DELHI: Delhi has been turned into a fortress. Roads are being secured, security has been stepped up and the capital is preparing for the arrival of some of the world’s most powerful leaders.Russian President Vladimir Putin, Chinese President Xi Jinping and other leaders are set to gather for the Brics Summit, turning New Delhi into the stage for a meeting of a bloc that now represents nearly half of the world’s population.But beyond the motorcades, bilateral meetings and summit optics lies a much bigger test. With 49.5% of the world’s population, Brics is no longer simply a grouping of emerging economies. As India hosts the 18th Brics Summit on September 12-13, New Delhi now has to show what it can do with that growing weight.India has spent its 2026 chairship pushing the grouping towards more practical cooperation: from food and energy security to critical supply chains, artificial intelligence and development finance. The challenge now is whether those efforts can translate into meaningful outcomes at a time when wars, tariff battles, supply-chain disruptions and geopolitical rivalries are reshaping the global economy.

A bigger Brics, a bigger global footprint

Brics began with Brazil, Russia, India and China, with South Africa joining in 2011. The grouping expanded significantly in 2024 with the addition of Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia. Indonesia joined in 2025, taking the number of full members to 11.The bloc also has 10 partner countries: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.The expansion has dramatically widened Brics’ geographical reach across Asia, Africa, the Middle East and Latin America. It brings together major energy producers, manufacturing powers, large consumer markets, commodity exporters and rapidly developing economies.Diversity is both an asset and a challenge. Brics has emerged as an important platform for major emerging economies to coordinate positions on global governance, development, trade, finance and technology. Its members also use the grouping to press for greater representation of developing countries in institutions such as the IMF, World Bank and UN.Yet the same diversity makes consensus more difficult. Unlike a formal economic union, Brics has neither a single economic policy nor a common foreign policy. Its members have different political systems, economic structures and strategic interests, and in some cases, sharply divergent positions on major international issues.The West Asia crisis is a particularly difficult test. Iran and the UAE are both members of Brics but have differing positions on the conflict. Saudi Arabia is also part of the grouping, adding another layer of complexity to attempts to craft a common political response.With Brics functioning on the principle of consensus, India faces the delicate task of finding language that can accommodate competing national positions while still producing a meaningful summit declaration.

India’s four priorities

ResilienceThe resilience pillar focuses on strengthening the ability of BRICS economies to withstand disruptions in the global economy. The agenda includes health, agriculture, food security, energy security, disaster risk reduction and critical supply chains.The focus reflects lessons from the pandemic, geopolitical conflicts and disruptions to global trade and logistics. For emerging economies, disruptions in energy supplies, food markets, shipping routes or access to essential industrial inputs can quickly translate into inflation, shortages and slower growth.India has therefore sought greater cooperation among BRICS countries to build more resilient and diversified supply chains, alongside stronger trade, investment and connectivity.InnovationThe second pillar focuses on innovation and emerging technologies. India has highlighted digital public infrastructure, fintech, artificial intelligence and knowledge-sharing as tools that can help Brics economies improve public services and create new opportunities for growth.For New Delhi, the emphasis is not simply on technological advancement but on using technology for inclusive development.India is seeking to showcase its experience with digital public infrastructure while encouraging cooperation in areas where emerging technologies can support health, agriculture, financial inclusion, disaster management and public service delivery.The larger objective is to make Brics cooperation more relevant to citizens rather than confining it to government-to-government discussions.CooperationThe third pillar seeks to deepen practical cooperation through policy coordination, development finance, trade facilitation, investment, connectivity and reform of global institutions.External affairs minister S Jaishankar has said Brics must move from being a forum for discussions to a platform for delivery.That approach is reflected in the range of meetings held during India’s chairship, including ministerial engagements and discussions involving business, technology and other stakeholders. India has also sought to strengthen people-to-people exchanges and broaden participation beyond political leaders and government officials.SustainabilityThe fourth pillar is sustainability, with a focus on climate action, green finance, energy transition and sustainable development. For Brics economies, the challenge is particularly complex: many are simultaneously dealing with rising energy demand, development needs and pressure to reduce emissions.India has therefore placed emphasis on finding practical pathways that balance economic growth with climate objectives, while recognising the different development levels and energy requirements of member countries.

Brics and India’s Global South pitch

At its core, Brics has evolved into a platform for emerging economies seeking a greater say in the institutions that shape the global economic and political order. Its members argue that the distribution of influence in institutions such as the IMF and World Bank does not adequately reflect the economic weight of developing countries today.India has consistently backed reforms to global governance institutions, including greater representation for developing countries. But New Delhi’s approach is not one of replacing the existing global economic system with a new bloc-based order.India continues to maintain deep economic, technological and strategic relationships with Western economies while participating in groupings such as the Quad and G20.For New Delhi, Brics is therefore a tool of strategic autonomy and multi-alignment a platform through which India can work with China, Russia, Gulf countries, Africa and Latin America while simultaneously expanding its engagement with the US, Europe and other partners.It also strengthens India’s credentials as a leading voice of the Global South.

The economic story

The economic weight of Brics is perhaps its most obvious strength. According to figures cited by the Indian government, the 11-member grouping accounts for around 49.5% of the world’s population, 40% of global GDP and 26% of global trade.India’s total goods trade with Brics members more than doubled from $203.1 billion in FY21 to $417.5 billion in FY26, according to data cited by the Global Trade Research Initiative (GTRI).But the numbers also expose a major challenge for New Delhi: the rapid growth of imports has far outpaced exports. India’s exports to Brics increased 48.8%, from $64.3 billion in FY21 to $95.7 billion in FY26. Imports, meanwhile, jumped 131.8%, from $138.8 billion to $321.8 billion.As a result, India’s trade deficit with Brics more than tripled, rising from $74.5 billion to $226.1 billion. The BRICS share in India’s exports fell marginally from 22% to 21.7%, while its share in India’s imports rose sharply from 35.2% to 41.5%.

UAE is India’s biggest Brics export market

Within the expanded grouping, the UAE emerged as India’s largest export market in FY26. India exported goods worth $37.4 billion to the UAE, up 124% from FY21.China was the second-largest destination at $19.5 billion, followed by Saudi Arabia at $10.3 billion. Brazil and South Africa accounted for around $7 billion each, while exports to Russia and Indonesia stood at around $4.5 billion each.India’s exports declined to Indonesia, Iran and Ethiopia. On the import side, however, China remained India’s largest Brics supplier. Indian imports from China doubled from $65.2 billion to $131.6 billion, accounting for about 41% of India’s Brics imports.The UAE supplied goods worth $63.9 billion, while imports from Russia increased more than tenfold, from $5.5 billion to $55.4 billion, primarily because of higher energy purchases.China, the UAE and Russia together accounted for almost 84% of India’s imports from Brics. For India, the challenge is therefore not simply to increase trade with Brics but to make that trade more balanced.GTRI founder Ajay Srivastava said the priority should be to correct the growing imbalance. “Brics is becoming an increasingly important source of machinery, industrial inputs, energy and commodities. However, it is not absorbing a comparable share of Indian exports,” said.“India should seek better market access in China, Russia and Indonesia, address non-tariff barriers, promote higher-value exports and reduce excessive dependence on a few Brics suppliers. Without stronger export growth, deeper intra-BRICS trade could further widen India’s already large trade deficit,” he added.The broader Brics trade numbers tell another story. GTRI estimates that Brics countries exported around $1.1 trillion worth of goods to one another, equivalent to 18.8% of their combined global exports.Their imports from fellow Brics countries stood at around $1.4 trillion, representing 29.5% of their global imports. This means BRICS economies remain more important to one another as sources of imports than as export destinations.China is the dominant player. In 2025, Brics countries exported goods worth around $5.67 trillion, accounting for 21.6% of global exports. Their imports totalled approximately $4.58 trillion, or 17.3% of global imports.China alone exported $550.8 billion to other Brics members and imported $464.9 billion from them.China’s manufacturing scale, export capacity and role in global supply chains make it the economic anchor of Brics. For commodity-producing members, China provides a major market. For countries such as India and Brazil, the bloc provides opportunities for diversification and greater collective bargaining power.But it also means Brics integration cannot be understood simply as a partnership among equals.For the grouping to become a genuinely integrated economic force, the next stage would require deeper business-to-business connections, greater investment flows and stronger institutional links.

The Trump factor

India’s Brics presidency has another powerful observer: US President Donald Trump.As Brics leaders gather in New Delhi against the backdrop of the Iran war, disruption around the Strait of Hormuz, trade tensions and a rapidly shifting global economy, Washington will be watching closely. Each of these issues intersects with US interests, from energy prices and shipping routes to tariffs, the dollar and the changing balance of global power.Trump has repeatedly targeted Brics over its efforts to reduce dependence on the US dollar, portraying the grouping as a challenge to American economic dominance.“You have this little group called Brics. It’s fading out fast, but BRICS is, they wanted to try and take over the dollar, the dominance of the dollar, and the standard of the dollar,” Trump told reporters at the White House last year in July.He also warned: “Any Country aligning themselves with the Anti-American policies of Brics, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter!”In October 2025, Trump described Brics’ de-dollarisation efforts as an “attack on the dollar” and again threatened tariffs against countries joining the grouping.“I told anybody who wants to be in Brics, that’s fine, but we’re going to put tariffs on your nation,” he said in the Oval Office.

The Troika: India, Russia and China

The geopolitical backdrop has made the Brics summit even more consequential. At the recent Shanghai Cooperation Organisation summit in Tianjin, Prime Minister Narendra Modi, Chinese President Xi Jinping and Russian President Vladimir Putin projected an unusually warm display of strategic camaraderie.PM Modi described Russia as a “special and privileged partner”, while Xi said “the world’s two most populous countries need to be friends.” Putin, meanwhile, referred to Modi as his “dear friend” and travelled with him in his armoured Aurus limousine.The optics came at a particularly sensitive moment for Washington. The Trump administration has sought to prevent Russia and China from developing an even closer strategic partnership. Trump himself has said: “The one thing you never want to happen is… Russia and China uniting. I’m going to have to un-unite them, and I think I can do that.”The logic echoes the strategy of former US president Richard Nixon, whose 1972 opening to China exploited the Sino-Soviet split and transformed the Cold War balance.The emerging picture today, however, is markedly different. Rather than driving Russia away from China, Washington’s efforts have coincided with Moscow maintaining close ties with Beijing while simultaneously deepening its relationship with New Delhi.Italian analyst Francesco Sisci described the dynamic as a “Reverse Nixon”.“The Nixon paradigm did work in reverse, but differently from what the US had thought; that is, Moscow played Washington this time,” he added.The significance goes beyond symbolism. Russia has emerged as an important supplier of energy and defence equipment to India, while China remains India’s largest trading partner and a major economic power within Brics.

Xi’s India visit adds another layer

Chinese President Xi Jinping will also visit India for the Brics summit, marking his first visit to the country in seven years. His participation is significant not only for Brics but also for the gradual improvement in India-China ties following the 2020 eastern Ladakh military standoff.PM Modi and Xi have held several meetings since their 2024 interaction on the sidelines of the Brics summit in Kazan, which marked a further easing of tensions and the resolution of issues related to disengagement.The two sides have also resumed high-level engagement on the boundary question.For India, the Brics summit provides an opportunity to push for fair market access, reliable supply chains and greater balance in bilateral trade, while maintaining its position that peace and tranquillity along the border are essential for the broader development of ties.For China, the summit is equally important because Beijing will take over the Brics chairship after India.

Iran, UAE and the test of consensus

If the economic agenda tests Brics’ ability to deliver, the Middle East crisis is testing its ability to reach consensus. Iran is a full member of Brics. So are the UAE and Saudi Arabia, countries with their own strategic interests in the region.India is seeking language that emphasises the UN Charter, dialogue and diplomacy, freedom of navigation and civilian protection.The Strait of Hormuz adds particular urgency because any prolonged disruption could affect global energy markets, shipping costs and inflation.The challenge is to ensure that disagreements over the conflict do not derail the broader economic agenda. If consensus on political language proves difficult, New Delhi may seek to insulate economic agreements from contentious geopolitical issues by acknowledging individual national positions.

The India challenge: Making a bigger Brics work

The rapid expansion of Brics has increased its global influence but also raised questions about governability.Prof Srikanth Kondapalli of Jawaharlal Nehru University has described the transformation as significant, pointing to the growing geographical spread and increasing number of countries seeking closer association with the grouping.He believes India is attempting to make Brics cooperation more decentralised and practical by taking the agenda beyond leaders and ministers to businesses, startups and civil society.“This is a new format that India is trying to pursue a decentralisation process compared to many centralised initiatives,” Kondapalli told ANI.He pointed to cooperation in areas including agriculture, startups, climate finance and artificial intelligence, arguing that these could help developing economies cope with international shocks.At the same time, he warned that further expansion could make consensus-building more difficult.“There is no organisation which is intercontinental other than the United Nations. Brics has over these two decades established itself as an intercontinental organisation,” he said.The challenge for India is therefore to ensure that a larger Brics does not become a less effective Brics.

What India wants from the summit

India’s priorities for the summit extend beyond the headline political issues. Among the areas expected to receive attention are trade, investment, development finance, resilient supply chains, cross-border payments, startups, technology, sustainability and global governance reform.India also wants continued support for issues such as UN Security Council reform and counter-terrorism cooperation.The proposed outcomes are aimed at giving the chairship a practical legacy. The summit is expected to culminate in the release of the New Delhi Declaration, although reaching consensus on the document remains one of the key diplomatic challenges.According to the ministry of external affairs schedule, the summit will begin on Saturday afternoon with a closed-door session for Brics member countries on “Inclusive Global Governance and Strengthening Multilateralism.”The leaders will subsequently visit the Bharat Innovates Exhibition, followed by a family photograph and joint tree-planting ceremony. Prime Minister Narendra Modi will host a gala dinner for the leaders on Saturday evening.On Sunday, the leaders will attend the open session titled “Resilience, Innovation, Cooperation and Sustainability: Shaping the Future for Inclusive Global Growth.” The summit will conclude with the release of the New Delhi Declaration.

India’s multi-alignment in sharper focus

For India, the message is less about choosing and more about preserving strategic room to manoeuvre. Recent diplomatic activity has underscored that approach. PM Modi met Xi in China and held talks with Putin, while also maintaining engagement with Ukrainian President Volodymyr Zelenskyy.The Russia relationship remains particularly important because of energy. According to Russian presidential spokesperson Dmitry Peskov, India’s energy imports from Russia have reached record levels.“I don’t want to give you any figures for understandable reasons, but every month we have a new record,” he said.Peskov also said Russia remained committed to fulfilling its defence commitments to India, including deliveries of the S-400 Triumf air defence systems.“Russia is capable of fulfilling its obligations, and they will be fulfilled. This issue is being mentioned during the conversations of our two leaders,” Peskov added.Moscow is also exploring deeper cooperation with India in areas including rare earths and the potential sale of Su-57 fighter jets, according to Peskov.On Ukraine, he suggested that Moscow sees considerable convergence with New Delhi. “We know India’s position on the Ukrainian conflict, and to a great extent… it corresponds with our own position, because we do want the resolution of the Ukrainian conflict by peaceful means, and Russia is open to this process,” Peskov said.

The tariff factor

The relationship with Washington, meanwhile, has become more complicated. Trump’s tariff policy has added an economic dimension to what was already a difficult geopolitical balancing act.For India, the concern is that pressure over trade could spill into wider strategic ties. At the same time, India’s growing closeness to Moscow and renewed engagement with Beijing do not necessarily signal a break with Washington.As Sreeram Sundar Chaulia of the Jindal School of International Affairs put it, India could still seek to maintain both relationships, “the Russian cake and eating the American pie”, but trust with Washington would be crucial.Russia has rejected the suggestion that Brics is pursuing formal de-dollarisation. Peskov said the grouping was not considering such a move, while criticising the use of national currencies as instruments of political pressure and calling proposed US sanctions illegal and unacceptable.India’s position is broadly consistent with this distinction: greater financial diversification is not the same as replacing the dollar.

Why Brics matters to India

Despite its political differences and economic imbalances, Brics remains strategically important to India.The grouping gives New Delhi a platform to work with China, Russia, Gulf countries, Africa and Latin America while continuing its engagement with the US, Europe, the Quad and other Western partners.It also strengthens India’s claim to a leadership role in the Global South. Working alongside major emerging economies, India can push for reforms of institutions such as the UN Security Council, IMF and World Bank, whose structures are widely seen as insufficiently representative of the developing world.Support within Brics for reform of the UN system is significant, although it falls short of an explicit endorsement of India’s bid for permanent membership of the Security Council, an issue complicated by China’s position.The China factor remains central. Stepping away from Brics would risk leaving greater space for Beijing to shape the economic and political agenda of the developing world. India’s presence allows it to push for a more balanced approach and resist any attempt to turn Brics into an explicitly anti-Western platform.

Building alternatives without targeting dollar

Financial cooperation is another important pillar. Institutions such as the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA) demonstrate Brics’ ability to build mechanisms of its own.India supports greater use of local currencies for legitimate trade and settlement, but has opposed the idea of a common Brics currency or a China-dominated alternative to the existing financial system.The economic case is equally important. Brics provides India with access to large markets while creating opportunities for trade diversification, supply-chain resilience and de-risking.Its membership also deepens India’s economic ties with major energy suppliers such as Russia, agricultural and commodity producers such as Brazil, and Gulf and African economies.

From dialogue to delivery

Jaishankar, while announcing India’s Brics summit, said the grouping must now move “from a forum for discussions to a platform for delivery.”That objective is reflected in India’s focus on concrete outcomes for the New Delhi summit, including a Brics declaration, a logistics and supply-chain cooperation framework, startup and incubator networks, development finance, cross-border payments, and continued support for priorities such as UN Security Council reform and counterterrorism.India has some reason for confidence when it comes to navigating difficult multilateral negotiations.At the 2023 G20 Summit in New Delhi, the inclusion of the African Union as a permanent member was a major diplomatic achievement. Equally significant was the last-minute consensus on Ukraine, where India helped broker compromise language that enabled leaders to adopt a joint declaration despite deep divisions over the war.That experience could prove valuable as New Delhi prepares for another difficult summit involving an even more diverse set of political and economic interests.

A 20-year-old grouping at a turning point

Brics has travelled a long way from the acronym coined by Goldman Sachs to describe emerging economies with high growth potential.UNCTAD estimates that Brics members’ global merchandise exports rose from nearly $1 trillion in 2003 to around $6 trillion in 2024, while their share of global exports doubled from approximately 12% to 24%.Yet economic size alone does not create an integrated bloc. The growth of intra-Brics trade has been substantial, but investment and deeper business links remain less developed than the bloc’s headline economic numbers might suggest.Brics has created political visibility, expanded South-South trade and established institutions such as the NDB. It has also strengthened calls for greater representation of emerging economies in global governance.The next test is whether that weight can be converted into deeper cooperation and tangible results.

From a platform to a force

For India, the opportunity lies in using Brics to make the Global South’s economic weight count more effectively without turning the grouping into an anti-Western alliance.That requires navigating several contradictions at once. India must work with China without allowing Beijing’s economic dominance to dictate the agenda. It must deepen ties with Russia while managing its increasingly important relationship with the US.It must push for local-currency trade without turning the dollar debate into a confrontation. And it must build consensus among countries whose interests can diverge sharply, particularly on issues such as West Asia.