BRICS is a bridge for India, a broad tent for Global South

Source: The Indian Express | Original Published At: 2026-09-10 13:39:53 UTC

Key Points

• The article describes BRICS as a heterogeneous grouping with diverse political systems and economies, arguing it should be assessed through its strategic interests and Global South agenda rather than a Western lens.
• BRICS is portrayed as reformist and pluralist, seeking democratisation of international institutions, multipolarity, and greater multilateral cooperation among developing countries.
• The New Development Bank has financed around 120 sustainable infrastructure projects worth about $39 billion, expanded membership, and committed 30 per cent of financing in local currencies in recent years.
• Intra-BRICS trade has grown sharply, from $84 billion in 2003 to $1.17 trillion in 2024, while BRICS accounts for over 20 per cent of global trade.
• BRICS is developing local-currency trade mechanisms, with Russia-China, China-Brazil, India-Russia and India-UAE trade increasingly settled in local currencies, though a common BRICS currency is considered unlikely in the near term.
• The BRICS summit is presented as an opportunity for India to position itself as a leading voice of the Global South and a bridge between Western and developing economies.