The Modi-Xi-Putin picture and the rise of a multipolar world trying to remake global power

Source: The Economic Times | Original Published At: 2026-09-12 12:01:00 UTC

Key Points

• BRICS leaders in New Delhi unanimously adopted the New Delhi Declaration, addressing unilateral tariffs, non-tariff barriers, coercive measures, and cross-border payments.
• The expanded BRICS grouping now has 11 members representing about 49% of the world's population, 39% of global GDP, and 23% of international trade.
• BRICS is developing practical mechanisms such as interoperable payment systems, greater use of national currencies, and alternative development finance channels.
• The New Development Bank has approved about $42.9 billion for 139 projects, including 32 projects worth $9.53 billion in India by the end of 2025.
• India's BRICS strategy is described as focused on strategic autonomy, stronger Global South representation, and engagement with multiple power centers.
• The summit highlighted continued India-Russia cooperation and cautious improvement in India-China engagement alongside broader BRICS coordination.