India Hosted the 18th BRICS Summit (2026)

India Hosted the 18th BRICS Summit (2026) (12-13 September, 2026)

BRIC 2009

BRICS 2010

BRICS + 2024

Introduction:

● BRICS is an acronym for Brazil, Russia, India, China & South Africa.

● BRICS started as an Economic organization of five major Emerging Economies of the world - Brazil, Russia, India, China & South Africa.

● BRIC started with four countries - Brazil, Russia, India & China in 2009. The inaugural first summit was held in Yekaterinburg, Russia, in 2009.

● South Africa joined this organization in December, 2010 and the name of this organization became BRICS from BRIC.

● At the 16th BRICS Summit held in 2024, Egypt, Ethiopia, Saudi Arabia, Iran, and the United Arab Emirates became new members of BRICS. Indonesia joined BRICS in January, 2025.

● At present 11 countries are members of BRICS. The acronym BRICS+ has been informally used to reflect new membership since 2025.

● The term BRIC was coined by British Economist Jim o Neill.

● BRICS represents 350 crore population (49.5% of world’s population) and the share of BRICS countries in the World economy is 40%. Bilateral relations among BRICS Countries are conducted on the basis of non-interference, equality and mutual benefits.

Purpose of BRICS: The aim of the BRICS is to reduce dependency on the US Dollar and strengthen the rule of International Law. BRICS want to reform the International Monetary & Financial Institutions. The two main such institutions are the World Bank & IMF. At present, these institutions are unjust to BRICS Nations & also to emerging economies of the world.

Unfortunately these institutions are under the indirect control of the US government. We (BRICS) should take a more active part in the IMF and World Bank’s decision making system. The International monetary system depends a lot on the US Dollar and USA’s monetary & financial policies. USA Controls the monetary & financial policies of a country indirectly in lieu of grant of loans by these institutions. Brics want to change this system.

Summits:

● The BRICS Summit meeting is held annually. Summit meeting means when a meeting is attended by the head of state/government. The first summit meeting was held in Russia in 2009.

● The last 17th BRICS Summit was hosted by Brazil which was held in Rio de Janeiro from 6th to 7th July, 2025 under the chairship of Mr. Luiz Inácio Lula da Silva (President of Brazil). This is the fourth time Brazil has held the BRICS presidency.

● India assumed the BRICS Chairship on 1 January 2026 from Brazil, and currently holds the presidency of BRICS for the year 2026. Earlier we have hosted the BRICS Summit three times in 2012, 2016 and 2021.

● The next 19th BRICS Summit will be hosted by China in 2027 and the presidency of BRICS will go to China on 1st January, 2027.

India’s BRICS Chairship (2026):

● India assumed the BRICS Chairship on 1st January 2026, from Brazil.

● India’s chairship will continue till 31st December 2026.

● The 18th BRICS Summit was held in New Delhi at Bharat Mandapam on September 12-13, 2026 under the theme of Building for Resilience, Innovation, Cooperation, and Sustainability.

● 10 Partner Countries - Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam also attended the 18th BRICS summit.

● International organisations like the UNO, World Trade Organisation (WTO) etc. also participated in the summit.

BRICS New Delhi Declaration, 2026:

The BRICS New Delhi Declaration, 2026, focused on making global governance more inclusive, strengthening the voice of developing countries and promoting cooperation on major global challenges such as terrorism, trade, artificial intelligence, climate change and health.

1. Reform of Global Governance -

BRICS called for a more representative, fair and multipolar international order. The Declaration strongly supported reforms of the United Nations and the UN Security Council so that developing countries, particularly those from the Global South, have a greater say in global decision-making. China and Russia also reiterated their support for a greater role for India and Brazil in the UN, including the Security Council.

2. Zero Tolerance Towards Terrorism -

The Declaration strongly condemned terrorism in all its forms. It also criticised cross-border terrorism, terrorist financing and the existence of safe havens for terrorists. The BRICS countries specifically condemned the terrorist attack in Jammu and Kashmir’s Pahalgam on 22 April 2025. The Declaration also called for the early adoption of the Comprehensive Convention on International Terrorism (CCIT).

3. West Asia and Other Global Conflicts -

On the ongoing tensions in West Asia, BRICS called for maximum restraint and stressed the importance of dialogue and diplomacy. It supported peaceful solutions to international disputes and reaffirmed the need to respect national sovereignty, territorial integrity and international law.

4. Trade and WTO -

BRICS opposed unilateral tariffs, non-tariff barriers and protectionist trade measures. It supported an open, transparent and non-discriminatory global trading system based on agreed rules. The Declaration also called for reforms to strengthen the World Trade Organization (WTO).

5. BRICS Payment Task Force and Local Currencies -

BRICS encouraged member countries to make greater use of local currencies for trade and investment. The BRICS Payment Task Force will work on improving cooperation between the payment systems of member countries. The idea is to make cross-border payments more efficient and reduce some of the difficulties involved in international transactions.

BRICS did not announce the creation of a common BRICS currency. The current focus is on local-currency settlements and better connectivity between national payment systems.

6. New Development Bank -

The Declaration called for strengthening and expanding the New Development Bank (NDB). It encouraged greater financing in local currencies and highlighted the importance of funding sustainable infrastructure and development projects.

7. Weaponisation of Technology

Another important concern was the growing possibility of technology being used as a tool of geopolitical pressure or conflict. BRICS stressed that new technologies should not be misused against countries or populations. It also discussed issues such as cybersecurity, misinformation, disinformation, deepfakes and responsible use of digital technologies.

8. Climate Change and Energy -

BRICS reaffirmed its commitment to the Paris Agreement and the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC). It called for an energy transition that is just, orderly, equitable and inclusive, while recognising that countries have different national circumstances and development needs.

9. Health and People-Centric Cooperation -

BRICS also focused on cooperation in the health sector. It supported greater collaboration in public health and mental wellness. A BRICS network of Centres of Excellence for mental health, coordinated by the National Institute of Mental Health and Neuro Sciences (NIMHANS) , was also highlighted as part of this cooperation.

Major New Challenges Before BRICS

1. Expansion of BRICS -

The expansion of BRICS is one of the biggest structural changes facing the grouping. With the inclusion of new members, BRICS has become more geographically, politically and economically diverse. While this has increased its global influence and representation of the Global South, it has also made consensus-building more difficult. Different countries have different national priorities and foreign-policy interests. Therefore, a key challenge is to ensure that BRICS remains an effective and united organisation despite its growing membership.

2. India-China Strategic Competition -

India and China are important members of BRICS but are also strategic competitors. Issues such as the border dispute, trade imbalance, competition for influence in the Global South and differences in foreign-policy approaches can affect cooperation within BRICS. However, BRICS will have to ensure that India-China bilateral tensions do not affect the broader functioning and objectives of the organisation.

3. Russia - West Conflict and Geopolitical Polarisation -

The continuing conflict between Russia and Western countries has created greater geopolitical divisions in the international system. BRICS includes countries with different positions on major global conflicts and their relations with the West.

4. West Asia Conflicts -

The continuing conflicts and instability in West Asia are another major challenge for BRICS. The inclusion of countries such as Iran, UAE and Saudi Arabia gives BRICS greater relevance in discussions on regional security. However, BRICS members have different strategic and economic relationships with countries involved in West Asian conflicts.

5. Different Economic Interests -

BRICS members have significant differences in their economic size, level of development, trade structures, currency systems, industrial capacity and energy requirements. Some members are major exporters of commodities such as oil and gas, while others are large importers. Similarly, their approaches towards tariffs, trade liberalisation and financial cooperation may differ.

6. From Declarations to Implementation -

Another major challenge before BRICS is converting its numerous declarations, proposals and commitments into concrete results. Over the years, BRICS has announced several initiatives, but their effectiveness ultimately depends on implementation. India’s 2026 chairship is focusing on practical areas such as resilient supply chains, MSME financing, digital cooperation, agriculture, innovation and sustainable development.

Some Important Points:

● BRICS has become a platform for discussing and deliberating on issues of common concern for all developing countries. BRICS countries have regularly called for reform of the multi-lateral system in order to make it more representative and inclusive.

● BRICS wants to make its own currency and focus on trade among BRICS Members in their own currencies instead of the US Dollar. “The Unit” is the potential name for a new BRICS Settlement Currency.

● BRICS is also working on “BRICS Pay” a Platform aimed at linking National Fast Payment Networks and potentially supporting Central Bank Digital Currency (CBDC).

● American President Donald Trump is against the BRICS Organisation and has threatened to impose a 10% tariff on imports from BRICS nations if they pursue efforts to challenge the US dollar’s dominance or create a common currency of its own. However, BRICS states that they are not against the US Dollar. BRICS wants to reduce its dependency on the US Dollar system.

New Development Bank:

● A new bank (New development Bank) was floated by BRICS Nations in July 2015 as an alternative to IMF and World Bank to reduce our dependency on these institutions. The purpose of this bank is to boost infra-structure funding in the emerging economies & offer them tailor made services. This bank will serve not only BRICS nations but also other countries of the world.

● The initial capital of this bank is 100 Billion US Dollars and a contingency reserve of 100 Billion Dollars. This capital is being used for giving loans for various developmental projects while a contingency fund is being used to give immediate help in case of natural disasters like earthquake, cyclone, floods, epidemic etc. More than 80 projects worldwide have been assisted by NDB.

● Sh. K.V. Kamath, the Ex- Executive Director of ICICI Bank was appointed as President of NDB for the first five years. Now Dilma Rousseff, former President of Brazil is the President of NDB from 24 March 2023 and she was re-elected to the post on 7th July 2025. The Secretariat of this bank is at SHANGHAI (China) and its regional centre at JOHANNESBURG (South Africa.)

Official Languages:

The official languages of BRICS are English, Russian, Chinese, Hindi, Portuguese, Persian (Iran), Arabic (UAE), Amharic (Ethiopia) and Indonesian. English will serve as the common working language for communication within the bloc, especially in official forums and documents.

Type of organisation:

This organisation started as an economic organisation but now it is an Economic, Political, military and regional co-operative organization.

Rise of BRICS and G20:

● Due to the slow pace of reforms in the United Nations, particularly the UN Security Council (UNSC), groupings such as BRICS and the G20 are increasingly being considered as parallel or alternative platforms for global governance.

● These forums have gained prominence by addressing global issues such as economic growth, development, climate change, finance, and geopolitical challenges, often complementing areas where the UN has faced limitations.

● India has consistently demanded permanent membership of the UN Security Council (UNSC) with veto power. India’s candidature is supported by countries like Brazil, Germany, Japan, France, the United Kingdom, Russia, and several other countries. However, China remains one of the major obstacles to India’s bid for permanent membership of the UNSC, as it has not extended explicit support for India’s candidature with veto power.

● India believes that comprehensive UN reforms, including expansion of the Security Council in both permanent and non-permanent categories, are essential to make the UN more representative, and major emerging economies and developing countries, such as India, Brazil, Germany, and Japan, deserve greater representation in global decision-making.

Note -

1. The Central Bank of India is Reserve Bank of India

2. The Central Bank of the US is the Federal Reserve System or simply Federal Reserve also popularly known as Federal Reserve Bank.