DR. EKTA KASANA
The BRICS 2026 hosted in New Delhi on 12 September 2026, marks a substantial achievement in India’s foreign policy. In 2026, India chaired BRICS on a rotating basis, with its focus on resilience, innovation, cooperation, and sustainability.
BRICS has moved past mere economic cooperation and now covers trade, investment, technology cooperation, sustainable development, global governance, energy security and financial cooperation. India’s BRICS presidency therefore offered a chance to advance its economic interests while simultaneously strengthening ties with other emerging economies.
What is BRICS?
BRICS is a coalition of major emerging economies that aims to expand cooperation among its members and amplify the voice of developing countries.
The group has increasingly concentrated on:
- Investment and financial cooperation
- Economic and trade cooperation
- Technology and innovation
- Sustainable development
- Reform of global institutions
- Energy and food security
- Greater cooperation among developing economies
As BRICS has expanded, managing differences among members has also become increasingly important. Analysts have highlighted a number of challenges relating to membership, intra-BRICS trade, financial mechanisms and differing geopolitical interests.
India’s BRICS Presidency in 2026
India’s 2026 chairship focused heavily on how to make BRICS cooperation more practical and development-oriented. Throughout the year, India hosted numerous meetings and engagements with governments, businesses, experts and other stakeholders throughout the country.
Four Pillars of India’s Presidency
1. Resilience
India promoted cooperation to make economies and supply chains more resilient against global disruptions.
2. Innovation
Technology, digitalisation, startups and innovation were key areas of cooperation.
3. Cooperation
India sought greater collaboration in trade, investment, finance, health, education and other sectors.
4. Sustainability
Climate change, sustainable development, energy transition and sustainable finance were all areas that received attention under India’s presidency.
Major Areas of Impact on India
1. Greater Trade Opportunities
A key potential advantage for India would be increased trade with other BRICS economies. Members of the BRICS Trade Ministers’ Meeting in Jaipur supported the development of the BRICS Economic Partnership Strategy 2030. The main topics of discussion were expanding trade in services and creating more robust and varied global value chains. For India, this could open up opportunities for IT and business services, Indian exporters, Pharmaceuticals, MSMEs. Stronger trade cooperation can also assist Indian companies in diversifying their export markets.
2. Opportunities for MSMEs
MSMEs are a particularly important area for the Indian economy as they generate employment and make a significant contribution to production and exports.
During India’s BRICS chairmanship, members agreed on guiding principles for MSME credit, with an aim to address the trade-finance gap and enhance small businesses’ accessibility to international markets. This could benefit Indian MSMEs through access to trade finance, Cross-border business opportunities and International market access
3. Investment and Financial Cooperation
India has the chance to improve its financial and commercial ties with other developing nations through BRICS. Enhanced financial collaboration could help facilitate investment across borders, transactions in local currencies, funding for sustainable development, collaboration between financial institutions, and funding for infrastructure
The New Development Bank (NDB) holds particular significance, as it was created to fund infrastructure and sustainable-development initiatives in BRICS and other developing economies. However, analysts have also highlighted challenges concerning the NDB’s institutional capacity and the development of BRICS financial mechanisms.
4. Promotion of the Indian Rupee
Talks within BRICS about expanding the use of national currencies in international transactions carry consequences for India. Greater use of national currencies could potentially reduce the dependence on a single international currency for some bilateral transactions. Recent BRICS discussions have witnessed progress towards using national currencies for intra-BRICS trade. For India, this may encourage further development of: rupee-based international settlements, cross-border payment systems, financial technology, currency and payment cooperation. However, the extent of these changes will depend on the economic policies and exchange-rate considerations of members, as well as development of practical settlement mechanisms.
5. Enhancing India’s Digital Economy
India’s expertise in UPI, digital payments, digital public infrastructure, and fintech offers a valuable avenue for collaboration with other emerging economies.
Digital technology cooperation within BRICS can open up prospects for Indian firms engaged in FinTech, AI, digital payments, cyber security and cloud technology. India can likewise offer other developing economies insights from its digital-public-infrastructure journey.
6. Sustainable Development and Green Finance
Sustainability was one of the central pillars of India’s BRICS presidency. BRICS discussions included climate change, technology transfer and climate-related financing. For India, this is important as it requires large-scale investment for: renewable energy, electric mobility,green infrastructure, energy efficiency, climate-resilient agriculture and green technologies. BRICS cooperation can therefore complement India’s efforts to expand green finance and sustainable investment.
7. Energy Security
Energy security is particularly important for India’s economic growth.
BRICS cooperation can provide a platform for discussing related to energy supplies, renewable energy, clean-energy technologies, energy infrastructure, energy-transition financing.
The 2026 summit placed energy security among the areas of enhanced cooperation. For India, stronger cooperation in this area can help with diversifying sources of energy and paying greater attention to long-term energy resilience.
8. Strengthening India’s Global Role
Hosting the BRICS Summit and leading the organisation for a year increased India’s diplomatic engagement with emerging economies.
India used its presidency to position itself as a country that seeks cooperation among developing economies while maintaining its engagement with the wider multilateral system. India’s foreign-policy position has stressed BRICS as a platform that complements, rather than replaces, broader multilateral institutions.
This presents India with opportunities for more active participation in discussions concerning: to global economic governance, development finance, international trade, climate change, global South cooperation.
Challenges for India
The impact of BRICS should not be viewed only in terms of opportunities. India also faces a number of challenges.
1. Different National Interests
BRICS members have different economic structures, foreign-policy priorities and geopolitical interests, which can make consensus difficult.
2. India-China Economic and Strategic Differences
India’s relationship with China contains both economic engagement and significant strategic differences, and therefore cooperation within BRICS has to coexist with bilateral challenges.
3. Expansion of BRICS
As BRICS expands, it becomes more representative of emerging economies but also more diverse, and managing a larger and more heterogeneous membership can be more complicated.
4. Limited Institutionalisation
BRICS does not operate like a highly integrated economic union, and therefore its effectiveness depends largely on members’ willingness to implement agreements and cooperate on specific initiatives.
5. Geopolitical Conflicts
Differences among members regarding international conflicts and global governance issues can affect the ability of BRICS to adopt common positions.
Conclusion
For India, the major potential benefits include greater trade opportunities, improved MSME access to finance, stronger financial cooperation, digital-economy collaboration, sustainable finance and greater engagement with emerging economies.
At the same time, the long-term impact of BRICS will depend on how effectively member countries translate summit-level commitments into actual trade, investment, financial, technological and development projects. The 2026 presidency represents not just a diplomatic event for India, but an opportunity to strengthen its economic engagement with the wider emerging-market community.
