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Current Affairs | 12 September 2026
18th BRICS Summit 2026: India Pushes Global Governance Reform and a Stronger Global South
Introduction
The 18th BRICS Summit began in New Delhi on 12 September 2026 under India’s fourth BRICS Chairship.
The summit comes at an unusually difficult moment for the international system. Conflicts in West Asia and Ukraine, rising protectionism, supply-chain disruption, energy insecurity and growing differences between major powers have created a more fragmented global order.
Against this background, India has sought to present BRICS not merely as a coalition seeking greater geopolitical weight, but as a platform capable of giving emerging and developing economies a stronger voice in global governance.
India’s 2026 Chairship is organised around the theme:
“Building for Resilience, Innovation, Cooperation and Sustainability.”
The central question before the summit is therefore larger than BRICS itself:
Can an expanded and highly diverse grouping convert its demographic and economic weight into practical cooperation and meaningful reform of global institutions?
Body
What is BRICS?
BRICS began as cooperation among four major emerging economies:
- Brazil
- Russia
- India
- China
South Africa later joined, transforming BRIC into BRICS.
The grouping has subsequently expanded significantly.
BRICS today has 11 full members:
- Brazil
- Russia
- India
- China
- South Africa
- Egypt
- Ethiopia
- Iran
- United Arab Emirates
- Indonesia
- Saudi Arabia
Together, these countries represent approximately:
- 49.5% of the world’s population
- 40% of global GDP
- 26% of global trade
The grouping therefore possesses significant demographic, economic, energy and geopolitical weight.
Why has BRICS expanded?
The expansion reflects dissatisfaction among many emerging economies with the structure of the post-Second World War global order.
Institutions such as:
- United Nations Security Council;
- International Monetary Fund;
- World Bank;
were largely designed when the distribution of global economic and political power was very different from today.
Emerging economies argue that representation and voting power have not adjusted sufficiently to reflect current realities.
BRICS therefore seeks a greater role for developing countries in decisions concerning:
- finance;
- development;
- international security;
- trade;
- technology;
- climate action.
This is why the grouping is closely associated with the idea of a more multipolar international order.
India’s vision for BRICS
India’s approach is important because New Delhi does not generally present BRICS simply as an anti-Western coalition.
India simultaneously maintains deep partnerships with:
- United States;
- European Union;
- Japan;
- Australia;
- Gulf countries;
while participating in BRICS, SCO and other forums.
This reflects India’s broader policy of strategic autonomy and multi-alignment.
India therefore prefers BRICS to function as:
a platform for reform rather than rigid geopolitical confrontation.
This distinction is critical.
For India, BRICS becomes useful when it:
- strengthens the voice of the Global South;
- improves development finance;
- increases cooperation among emerging economies;
- reforms multilateral institutions;
- supports resilient supply chains.
1. Reform of Global Governance
One of the central themes of the New Delhi summit is reform of international institutions.
India and other BRICS members have argued that contemporary institutions should reflect the economic and demographic realities of the 21st century.
UN Security Council
The composition of the UNSC continues to reflect the power structure that emerged after the Second World War.
India has consistently argued for:
- expansion of permanent and non-permanent membership;
- greater representation of developing countries;
- stronger representation of Africa and Asia.
India itself seeks permanent membership of an expanded Security Council.
IMF
The IMF’s voting structure depends significantly on quotas.
Emerging economies argue that quota shares should better reflect their growing contribution to the global economy.
World Bank
Developing countries seek:
- stronger representation;
- greater availability of development finance;
- faster and less conditional financing.
WTO
BRICS countries also emphasise preserving a rules-based multilateral trading system while making it more responsive to the interests of developing economies.
Thus, the broader demand is:
Economic weight → greater institutional voice
2. Global South as a central BRICS theme
The term Global South broadly refers to developing and emerging countries across Asia, Africa, Latin America and other regions.
It should not be understood as a strict geographical category.
The main concerns frequently raised by Global South countries include:
- debt stress;
- development finance;
- food insecurity;
- energy insecurity;
- climate finance;
- technology access;
- unequal representation.
BRICS provides these economies with another platform for discussing such issues outside institutions traditionally dominated by advanced economies.
For India, Global South leadership has become an important component of foreign policy.
India has repeatedly attempted to act as a bridge between:
developed economies ↔ developing economies.
3. New Development Bank: BRICS’ most important institution
One of BRICS’ major institutional achievements is the New Development Bank (NDB).
Prelims Takeaway
Headquarters: Shanghai, China.
The NDB finances:
- infrastructure;
- sustainable development;
- transport;
- water;
- clean energy;
- urban development.
The institution was created partly to increase the availability of development financing for emerging economies.
It does not formally replace the World Bank or Asian Development Bank.
Rather, it provides an additional financing channel.
The NDB has approved tens of billions of dollars in projects since its establishment.
Its long-term relevance will depend upon whether BRICS can scale up financing while maintaining:
- financial discipline;
- project quality;
- institutional credibility.
4. Local-currency trade and cross-border payments
Another major area of discussion is financial cooperation.
BRICS countries are exploring greater use of national currencies in bilateral trade and more efficient cross-border settlement mechanisms.
The logic is straightforward.
Traditional international transactions may involve:
Local currency → US dollar → partner currency
This creates:
- conversion costs;
- intermediary-bank charges;
- settlement delays.
Direct settlement may reduce some of these costs.
Potential areas include:
- payment-system connectivity;
- central-bank cooperation;
- local-currency invoicing;
- fintech interoperability.
However, this does not mean BRICS has created a common currency.
Important Prelims Trap
Local-currency settlement ≠ BRICS common currency
A common currency would require much deeper integration involving:
- monetary coordination;
- exchange-rate arrangements;
- central banking;
- common institutions.
BRICS is currently nowhere near an EU-style monetary union.
5. Why reducing dollar dependence is difficult
The US dollar dominates international finance because of several structural advantages:
- large and liquid financial markets;
- widespread acceptance;
- deep US Treasury market;
- convertibility;
- confidence in settlement infrastructure.
Replacing such a system cannot happen merely through political announcements.
Local-currency settlement works best when:
- trade flows are balanced;
- currencies are sufficiently liquid;
- counterparties want to hold those currencies;
- financial markets are deep.
Thus, BRICS financial diversification is likely to evolve gradually rather than through sudden “de-dollarisation”.
6. Resilient global supply chains
The pandemic and subsequent geopolitical conflicts exposed vulnerabilities in highly concentrated global supply chains.
The earlier model often prioritised:
Lowest cost + maximum efficiency
The emerging model increasingly values:
Efficiency + resilience + diversification
India’s 2026 Chairship has promoted cooperation on logistics and global value chains.
Important outcomes developed during the Chairship include:
- BRICS Logistics Supply-Chain Cooperation Framework;
- BRICS Global Value Chains Action Plan 2026–2030;
- proposed deeper customs cooperation.
For India, this aligns with domestic initiatives such as:
- PM Gati Shakti;
- National Logistics Policy;
- Production Linked Incentive schemes;
- semiconductor manufacturing;
- industrial corridors.
India wants to position itself as a more important node in diversified global supply chains.
7. Technology cooperation
BRICS cooperation has increasingly expanded into emerging technologies.
Areas include:
- Artificial Intelligence;
- digital agriculture;
- remote sensing;
- digital health;
- fintech;
- standards;
- deep technology.
India’s Chairship has supported a BRICS Network on Digital Agriculture, using technologies such as:
- AI-based decision support;
- geospatial intelligence;
- IoT monitoring;
- advanced data analytics.
This demonstrates that BRICS is attempting to move beyond diplomatic declarations toward more sector-specific cooperation.
8. Agriculture and food security
Food security is another major concern for emerging economies.
India’s 2026 Chairship has supported initiatives such as:
BRICS Centres of Excellence on Agro-Ecology
Designed to support research and knowledge-sharing on:
- natural farming;
- organic farming;
- regenerative agriculture;
- climate resilience.
BRICS AGRIN
A voluntary cooperation framework on:
- seeds;
- germplasm;
- agricultural inputs;
- information sharing.
Such initiatives are important because climate change, geopolitical instability and supply disruptions increasingly affect food systems.
9. Health cooperation
BRICS has also institutionalised cooperation in public health.
Areas include:
- pandemic preparedness;
- tuberculosis research;
- digital health;
- traditional medicine;
- mental health;
- health-equity frameworks.
Under India’s Chairship, NIMHANS has been associated with coordination of a BRICS network focusing on mental wellness.
This represents an important evolution of BRICS:
Foreign policy cooperation → sector-specific institutional cooperation
10. Disaster resilience
Climate-related disasters increasingly affect developing economies disproportionately.
Under India’s Chairship, BRICS cooperation has emphasised:
- early warning systems;
- resilient infrastructure;
- nature-based solutions;
- climate-smart infrastructure;
- community resilience.
This connects BRICS cooperation with India’s wider advocacy of disaster-resilient infrastructure.
11. The New Delhi Declaration challenge
Reaching consensus within an expanded BRICS is increasingly difficult.
Ahead of the summit, negotiators reportedly reached agreement on the broad text of a joint declaration despite major geopolitical differences among members.
One of the most difficult issues involved differences surrounding ongoing conflict in West Asia, including tensions involving BRICS members themselves.
This illustrates an important dilemma:
Expansion increases global representation but makes political consensus harder.
A grouping containing large democracies, authoritarian states, energy exporters, commodity importers and geopolitical rivals will naturally have diverse national interests.
BRICS therefore operates mainly through consensus rather than supranational authority.
No BRICS institution can simply force members to follow a common foreign policy.
12. Internal contradictions within BRICS
The bloc faces several structural challenges.
India–China differences
India and China cooperate within BRICS while managing unresolved bilateral problems involving:
- boundary disputes;
- strategic rivalry;
- trade imbalance;
- Pakistan;
- regional influence.
Different geopolitical orientations
Some BRICS members have strong relations with the United States and Europe.
Others openly favour a more confrontational approach towards Western-led institutions.
Iran–UAE differences
Regional conflicts can create disagreements even among BRICS members.
China’s economic dominance
China’s economy is significantly larger than those of most other members.
This creates concerns that an expanded BRICS could become disproportionately influenced by Beijing.
India therefore supports multipolarity within BRICS itself, not merely multipolarity at the global level.
13. Expansion vs institutional effectiveness
Expansion has dramatically increased the grouping’s representation.
But larger membership also creates challenges.
More members mean:
- more interests;
- more bilateral disputes;
- greater variation in political systems;
- more complex consensus-building.
Thus, the key challenge is:
Representation without paralysis.
India’s Chairship has emphasised institutional effectiveness partly for this reason.
14. BRICS and the West: confrontation or reform?
BRICS is sometimes described as an anti-Western bloc.
That description is incomplete.
Russia and China often emphasise reducing Western dominance in global affairs.
India generally takes a more balanced approach.
India participates simultaneously in:
BRICS + Quad + G20 + SCO + partnerships with EU and US
This would be difficult if India viewed these arrangements as mutually exclusive ideological blocs.
India’s preferred model is closer to:
issue-based coalitions + multiple partnerships + strategic autonomy
BRICS therefore allows India to seek institutional reform without abandoning cooperation with Western economies.
15. Why BRICS matters for India
Global South leadership
It gives India a platform to articulate developing-country priorities.
Strategic autonomy
India can cooperate with different major powers without joining rigid alliance structures.
Energy security
Several BRICS members are major producers of:
- oil;
- natural gas;
- critical minerals.
Trade and investment
The grouping contains:
- large markets;
- manufacturing centres;
- energy producers;
- capital exporters.
Multilateral reform
BRICS strengthens India’s demand for reform of:
- UNSC;
- IMF;
- World Bank.
Development finance
The NDB provides another source of infrastructure and sustainable-development financing.
BRICS vs G7: Useful Comparison
| BRICS | G7 |
|---|---|
| Emerging and developing economies dominate | Advanced industrial economies dominate |
| Strong Global South orientation | Traditional advanced-economy grouping |
| Highly diverse political systems | More politically similar members |
| Development and governance reform central | Long-established global financial influence |
| Expanded membership | Seven core members |
| NDB as development institution | Members dominate major traditional financial institutions |
BRICS should therefore not simply be understood as a mirror image of the G7.
Its institutional structure, membership and objectives are different.
Way Forward
1. Focus on measurable outcomes
BRICS should avoid becoming excessively declaration-driven.
Progress should be measured through:
- trade facilitation;
- infrastructure financing;
- technology cooperation;
- development projects.
2. Strengthen the New Development Bank
NDB financing should expand while maintaining high project and financial standards.
3. Improve payment connectivity
BRICS should focus on practical interoperability rather than politically dramatic but institutionally unrealistic currency proposals.
4. Maintain balanced leadership
Institutions must prevent any one member from dominating the grouping.
5. Manage expansion carefully
New members should increase representativeness without making consensus impossible.
6. Keep the Global South development-oriented
BRICS will gain credibility if it addresses practical problems such as:
- food security;
- climate finance;
- infrastructure;
- public health;
- technology access.
7. Preserve India's strategic autonomy
India should continue to use BRICS alongside—not instead of—its other international partnerships.
Conclusion
The 18th BRICS Summit is taking place at a moment when the international system is becoming increasingly fragmented.
The grouping's rapid expansion has given it unprecedented demographic and economic weight. But greater size has also introduced greater complexity.
For India, the objective is not simply to build a larger geopolitical bloc.
It is to use BRICS to advance:
Global South representation + institutional reform + development cooperation + strategic autonomy
The future relevance of BRICS will therefore depend less on the number of countries attending its summits and more on whether it can transform political declarations into practical institutions and measurable development outcomes.
India’s challenge as Chair is to ensure that an expanded BRICS becomes more representative without becoming less effective.
Mains Practice Questions
Q1. “The expansion of BRICS has increased its representativeness but also complicated its internal cohesion.” Analyse the opportunities and challenges this creates for India.
15 Marks | 250 Words
Q2. BRICS is better understood as a platform for reforming global governance than as a conventional geopolitical alliance. Discuss from India’s perspective.
15 Marks | 250 Words
