An opinion column marks 25 years of BRICS and argues that BRICS+ is challenging Western-dominated global economic governance by promoting multilateralism, national-currency trade and alternative financial institutions.
BRICS accounts for nearly 40% of global GDP by purchasing power parity, compared with about 29% for the G7, while intra-bloc trade remains limited relative to the group’s economic size.
The 18th BRICS summit in New Delhi will discuss resilience against geopolitical crises, including the Russia-Ukraine conflict, West Asian tensions and US tariff policies.
Ahead of the 18th BRICS Summit in New Delhi, India is expected to emphasize dialogue, practical economic cooperation, and institutional reform while hosting an expanded and diverse membership.
India is promoting cross-border UPI integration within BRICS to lower remittance costs, while addressing interoperability, data-flow, and institutional challenges.
Commerce and Industry Minister Piyush Goyal said India’s merchandise exports grew more than 15% in April-August and called for deeper BRICS trade cooperation, stronger support for women-led businesses, and digital trade facilitation.
Economist Jeffrey Sachs said a successful BRICS Summit in India should deliver clear positions on the Iran conflict, advance financial cooperation, and strengthen the United Nations-centred multilateral system.
As Iran and the United Arab Emirates bring opposing positions on West Asia to the BRICS 2026 summit in New Delhi, India faces the task of balancing diplomatic tensions while keeping the agenda focused on trade, energy, supply chains and development finance.
Former foreign secretary Harsh Vardhan Shringla said India’s 2026 BRICS chairship is people-centric and focused on innovation, cooperation, sustainability, and consensus-building.
