India Assumes BRICS Presidency Amid Global Trade Tensions

Source: Firstpost | Original Published At: 2026-01-01 12:57:19 UTC

Key Points

• India begins its 2026 BRICS presidency advocating for inclusive development and stronger Global South influence in economic governance
• Expanded BRICS bloc now represents 49% of global population and 29% of GDP, with Saudi Arabia's formal membership pending
• Trump administration's high tariffs on Indian goods create challenging trade environment for BRICS coordination
• Experts predict India will promote local currency settlements rather than confrontational de-dollarization during its presidency
• India emphasizes multilateral institution reforms (WTO, IMF) and global supply chain stability amid rising protectionism
• Pakistan seeks NDB membership while India advocates for controlled BRICS expansion with clear economic criteria
• Global South priorities include food security, debt restructuring, and climate finance during India's leadership term