India has a chance to change what BRICS stands for: more choices, not more blocs

Source: The Indian Express | Original Published At: 2026-09-12 10:51:05 UTC

Key Points

• The article argues that India should work to change the purpose of BRICS rather than treat it as a growth miracle or security alliance.
• It describes BRICS as imbalanced, citing China's role in expansion, the Shanghai-based New Development Bank, and the interests of Russia and Iran in reducing dollar dependence.
• It proposes an interoperability protocol linking domestic fast-payment systems, allowing members to join or leave voluntarily, as an alternative to a BRICS currency.
• It recommends reforming New Development Bank governance to give newer members greater influence over capital.
• It suggests that any BRICS statement on Ukraine and Gaza should emphasize principles and sovereignty rather than endorsing specific war aims.
• It frames India's opportunity as helping create a more plural Asia in which no single power dominates.