BRICS in 2026
BRICS in 2026: Origin, Full History, Founding Members, Internal Tensions and Why India Is So Important to Its Future.
BRICS in 2026: Origin, Full History, India’s Role and Why India Matters More Than Ever
Introduction
What began as an economic acronym in 2001 has grown into one of the most closely watched groupings in the changing global order.
BRICS today brings together major emerging economies from Asia, Africa, Latin America and the Middle East. Its discussions now extend far beyond economics into trade, finance, technology, artificial intelligence, sustainable development, energy, healthcare, agriculture, education and reform of global institutions.
India has played an important role in this journey from the beginning. In 2026, its position became even more significant as India assumed the BRICS Chairship for the fourth time and hosted the 18th BRICS Summit in New Delhi on 12 and 13 September 2026.
The official theme of India's 2026 Chairship is:
“Building for Resilience, Innovation, Cooperation and Sustainability.”
The New Delhi Declaration praised India's approach as practical, development-oriented, inclusive and people-centred. More than 400 BRICS meetings and engagements were organised across 30 Indian cities during India's Chairship.
This raises an important question:
Why has India become so important to the future of BRICS?
To understand that, we first need to understand how BRICS began.
The Origin of BRICS
Interestingly, BRICS did not begin as an international organisation.
The story began in 2001, when Goldman Sachs economist Jim O'Neill coined the term BRIC in a research paper titled The World Needs Better Economic BRICs.
The acronym referred to four major emerging economies:
Brazil
Russia
India
China
The original idea was primarily economic. O'Neill's analysis suggested that these four economies could become increasingly important to the global economy over the following decades.
The governments of the four countries later transformed the economic idea into a diplomatic and political platform.
Who Were the Founding Members of BRICS?
Historically, the original BRIC countries were:
Country | Original Position |
Brazil | Founding BRIC member |
Russia | Founding BRIC member |
India | Founding BRIC member |
China | Founding BRIC member |
South Africa was not part of the original BRIC grouping.
Political cooperation among Brazil, Russia, India and China began taking shape in 2006, and the first formal BRIC leaders' summit was held in Yekaterinburg, Russia, in 2009.
South Africa was subsequently invited to join. Its entry transformed BRIC into BRICS, giving the organisation an important African presence.
BRICS History: From 2001 to 2026
BRICS has evolved steadily rather than being created as a fully formed international organisation.
Year | Major Development |
2001 | Jim O'Neill coins the term BRIC |
2006 | Brazil, Russia, India and China formalise political cooperation |
2009 | First BRIC Leaders' Summit in Yekaterinburg |
2010–2011 | South Africa joins and BRIC becomes BRICS |
2012 | New Delhi Summit advances the idea of a BRICS development bank |
2014 | Agreement establishing the New Development Bank is signed |
2015 | New Development Bank begins operations |
2023 | Johannesburg Summit approves major expansion |
2024 | Egypt, Ethiopia, Iran and UAE enter the expanded grouping |
2025 | Indonesia becomes a full BRICS member |
2026 | India chairs BRICS and hosts the 18th Summit in New Delhi |
What began as a four-country economic concept has therefore developed into a much broader platform for economic, financial, political and development cooperation.
The Expansion of BRICS
The 2023 Johannesburg Summit marked one of the biggest turning points in BRICS history.
The organisation began admitting additional emerging economies, significantly increasing its geographic reach.
India's official 2026 BRICS backgrounder lists 11 countries:
Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.
According to the same Indian government backgrounder, these economies collectively represent approximately:
49.5% of the world's population
40% of global GDP
26% of global trade
There is an important qualification regarding Saudi Arabia.
While Indian official material currently includes Saudi Arabia among the 11 members, Reuters' September 2026 summit reporting describes a ten-member bloc because Saudi Arabia has not formally completed its accession process.
This distinction is worth mentioning because different sources currently use different membership totals.
What Is BRICS Trying to Achieve?
BRICS is not a military alliance.
It is also very different from organisations such as the European Union.
BRICS functions mainly through dialogue, consensus and cooperation.
Its work broadly covers three pillars:
Political and security cooperation
Economic and financial cooperation
Cultural and people-to-people cooperation
The 2026 New Delhi Declaration reaffirmed the group's commitment to a more representative international order, sustainable development, inclusive growth and reform of multilateral institutions.
BRICS countries generally argue that emerging and developing economies should have greater representation in institutions such as the United Nations, World Bank and International Monetary Fund.
In simple terms, BRICS wants the global system to reflect the economic and demographic realities of the 21st century rather than remaining dominated by structures created decades ago.
The New Development Bank: One of BRICS' Biggest Achievements
One of the most important developments in BRICS history has been the creation of the New Development Bank, commonly known as the NDB.
The idea gained important momentum during the 2012 BRICS Summit in New Delhi.
The objective was to create a financial institution capable of supporting infrastructure and sustainable-development projects in emerging economies.
Today, the New Development Bank is a functioning multilateral development institution.
According to the NDB, it has approved approximately:
US$42.9 billion in financing across 139 projects.
Its projects cover areas including:
Clean energy
Transport
Water and sanitation
Affordable housing
Environmental protection
Social infrastructure
Digital infrastructure
India has also received NDB support for major projects.
Recent Indian projects listed by the bank include:
REC Energy Infrastructure Project
HUDCO Affordable Housing Project
Avanse Education Infrastructure Project
Lucknow Metro Rail Phase 1B
Piramal Finance Affordable Housing Project
The NDB is important because it demonstrates that BRICS can create institutions that produce measurable development outcomes.
What Caused Tensions and Disturbances Inside BRICS?
BRICS countries cooperate on many issues, but they do not always agree.
In fact, one of the most interesting characteristics of BRICS is that countries with very different strategic interests continue working together.
Several issues have created tensions.
1. India-China Relations
India and China are two of the most powerful members of BRICS, but their relationship has experienced serious difficulties.
Relations deteriorated sharply following the deadly border confrontation in 2020.
Although diplomatic engagement has improved since then, Reuters reported in September 2026 that concerns around security, investment, technology and strategic mistrust remain.
This creates an unusual situation.
India and China compete strategically while simultaneously cooperating through BRICS.
2. The Russia-Ukraine War
Russia's war with Ukraine has also complicated the internal political environment.
Russia faces extensive Western sanctions and increasingly views BRICS as an important platform for financial and economic cooperation outside Western-dominated systems.
India, however, maintains strong relations with Russia while simultaneously strengthening partnerships with the United States, Europe, Japan and other economies.
This illustrates an important point:
BRICS members cooperate without necessarily sharing the same foreign policy.
3. Different Relationships With the West
Not every BRICS member views the United States or Europe in the same way.
Russia and Iran have major strategic disagreements with Western governments.
India, Brazil, the UAE and several other BRICS countries maintain extensive economic relationships with Western economies.
BRICS therefore cannot easily become a unified anti-Western alliance.
India, in particular, has generally favoured a multipolar international system rather than simply replacing one dominant bloc with another.
4. Expansion Makes Consensus More Difficult
Expansion gives BRICS greater global influence.
However, every additional member also brings:
Different foreign-policy priorities
Different security concerns
Different economic structures
Different regional rivalries
Different relationships with global powers
The challenge for BRICS is therefore straightforward:
The larger BRICS becomes, the more powerful it may become, but reaching consensus may also become more difficult.
The fact that members were still able to adopt a joint New Delhi Declaration in September 2026 despite major international tensions demonstrates both the difficulty and importance of maintaining dialogue.
Does BRICS Want to Replace the US Dollar?
The subject of a so-called “BRICS currency” regularly generates headlines.
However, there is currently no single BRICS currency.
BRICS countries are discussing greater use of their national currencies, improved cross-border payment systems and ways to reduce transaction costs.
This is very different from creating one shared currency comparable to the euro.
India has generally supported practical local-currency settlement mechanisms rather than rushing towards a completely new supranational currency.
The emphasis is therefore increasingly on payment connectivity and financial efficiency, not simply “replacing the dollar”.
India's Role in BRICS
India has been part of BRICS from its earliest political development.
It was one of the four original BRIC economies and participated in the process that converted the economic concept into a diplomatic platform.
However, India's importance has expanded significantly.
India now contributes to BRICS across finance, digital technology, trade, startups, agriculture, healthcare, education, energy and institutional reform.
Why India Is One of the Best-Positioned Countries to Shape the Future of BRICS
It would be inaccurate to claim that there is an official ranking declaring India the “best” BRICS country.
However, there is a strong case that India is currently one of the best-positioned members to drive the next phase of BRICS development.
Here are the major reasons.
1. India Is One of the World's Fastest-Growing Major Economies
India brings enormous economic momentum to BRICS.
The International Monetary Fund's July 2026 outlook projected India's economic growth at 6.4% and described India as one of the world's fastest-growing economies and an important engine of global growth.
A growing economy strengthens India's influence not only within BRICS but throughout the Global South.
2. India Brings Digital Infrastructure at Population Scale
Perhaps India's most distinctive contribution to BRICS is its digital public infrastructure.
India has demonstrated that digital systems can operate at enormous scale while supporting payments, public services and financial inclusion.
The best example is the Unified Payments Interface, or UPI.
In August 2026 alone, UPI processed:
24.509 billion transactions
with a total value of approximately:
₹29.82 lakh crore
across 752 live banks.
For BRICS countries seeking faster and cheaper payment systems, India's experience provides an important practical model.
3. India Is Bringing Digital Public Infrastructure Into BRICS Cooperation
India is not keeping its digital experience limited to the domestic market.
Under India's Chairship, BRICS ICT discussions have focused heavily on:
Digital public infrastructure
Cybersecurity
Digital governance
Future communication networks
Digital skills
Innovation
Startups
Artificial intelligence
The BRICS Digital Public Infrastructure Focus Group has also examined how member countries can develop affordable, interoperable and citizen-centric digital services while respecting national sovereignty and privacy.
This could become one of India's most valuable long-term contributions to BRICS.
4. India Is Bringing Artificial Intelligence Into the Development Agenda
Artificial intelligence is increasingly becoming part of BRICS cooperation.
India's approach emphasises using AI not only for commercial growth but also for public services, healthcare, education, infrastructure and economic development.
The 2026 New Delhi Declaration recognised technological cooperation, artificial intelligence, digital skills and emerging technologies as important areas for collaboration.
India therefore has an opportunity to help shape an AI agenda designed around the requirements of developing economies.
5. India Is Driving Energy Cooperation
Energy security and energy transition are major concerns across BRICS countries.
During the 11th BRICS Energy Ministers' Meeting in Gurugram in June 2026, India helped launch the:
BRICS Digital Centre of Excellence for Smart Grids and Energy Storage
The initiative focuses on technology, energy resilience, smart electricity systems and energy-storage solutions.
This is a good example of India converting BRICS discussions into practical institutional cooperation.
6. India Is Supporting Startups, MSMEs and Industry
India is also trying to strengthen entrepreneurship and industrial cooperation within BRICS.
Its initiatives include work involving:
MSMEs
Startups
Advanced manufacturing
Industry 4.0
Technology
Logistics
Innovation ecosystems
The 2026 New Delhi Declaration welcomed India's establishment of an India Centre for BRICS Industrial Competencies and recognised cooperation in advanced manufacturing, artificial intelligence and digital production technologies.
This matters because BRICS will require stronger private-sector integration if it wants to become more than a government-level forum.
7. India Is Strengthening Trade and MSME Finance
India hosted the 16th BRICS Trade Ministers' Meeting in Jaipur in August 2026.
One major outcome was the Jaipur Consensus and Guiding Principles for MSME Credit.
The objective is to improve access to finance for smaller businesses and help them participate more effectively in international trade.
BRICS members also recognised India's work towards the Strategy for BRICS Economic Partnership 2030.
This reflects India's attempt to build a BRICS agenda that benefits companies and entrepreneurs, not only governments.
8. India Is Giving Agriculture a Stronger Voice
Food security affects billions of people across BRICS countries.
At the BRICS Agriculture Ministers' Meeting in Indore in June 2026, members focused on four major priorities:
Food security, nutrition and livelihoods
Agricultural trade
Climate-resilient and sustainable farming
Innovation and investment in future food systems
This is another area where India's experience can be relevant to developing economies with large rural populations.
9. India Is Expanding Healthcare Cooperation
Healthcare has also become an important part of India's BRICS agenda.
The 2026 BRICS Health programme included cooperation on:
Health security
Digital health
Artificial intelligence in healthcare
Pandemic preparedness
Mental health
Equitable access to healthcare
India's combination of pharmaceutical manufacturing, digital health and large-scale public-health systems gives it significant potential to contribute to healthcare cooperation across the Global South.
10. India Is Investing in Skills, Education and Human Capital
The future of BRICS will depend on people as much as infrastructure.
India's Chairship has therefore pushed cooperation in:
Digital skills
Vocational education
Academic collaboration
Future workforce development
Research
Emerging technologies
The New Delhi Declaration also welcomed BRICS CONNECT, a network for capacity building, employability, new skills and technologies.
This could help BRICS move towards stronger labour-market and education cooperation.
India's Greatest Advantage: Strategic Balance
India's most important contribution may not be economic or technological.
It may be diplomatic.
India has relationships with almost every major geopolitical grouping.
It maintains strong ties with Russia.
It participates in BRICS with China while simultaneously managing strategic competition with Beijing.
It has deep partnerships with the United States, European countries, Japan, the Gulf states and Indo-Pacific economies.
At the same time, India has increasingly positioned itself as a voice of the Global South.
This gives India a unique ability to operate between different geopolitical camps.
Rather than transforming BRICS into an anti-Western alliance, India can push the organisation towards a model based on:
development, strategic autonomy, economic cooperation and multipolarity.
India's 2026 BRICS Chairship
India's 2026 Chairship may ultimately be remembered for trying to make BRICS more practical.
The New Delhi Declaration states that more than 400 meetings and engagements took place across 30 Indian cities and recognised progress in innovation, sustainable development, economic cooperation and people-to-people engagement.
The agenda has covered an extraordinary range of areas:
Artificial intelligence
Digital public infrastructure
Trade
MSME finance
Energy
Startups
Healthcare
Agriculture
Education
Skills
Sustainable cities
Transport
Culture
Tourism
Development finance
India is therefore trying to position BRICS as a solutions-oriented platform rather than simply a geopolitical talking shop.
What Happened at the 2026 New Delhi BRICS Summit?
The 18th BRICS Summit was held in New Delhi on 12–13 September 2026.
Leaders adopted the New Delhi Declaration and reaffirmed their commitment to a fairer, more representative and multipolar international system.
The meeting took place amid considerable international tension.
Yet BRICS members, including countries with very different strategic relationships, were still able to agree on language calling for restraint, diplomacy and dialogue regarding escalating conflict in the Middle East.
That is significant.
BRICS' value may not come from every member agreeing on everything.
Its value may instead come from keeping countries with very different interests at the same table.
Is BRICS Anti-West?
BRICS is often portrayed as an anti-Western bloc.
The reality is more complicated.
Russia and Iran have strong strategic reasons to reduce dependence on Western financial and political systems.
China frequently calls for reform of Western-dominated institutions.
But countries such as India, Brazil and the UAE maintain major economic and diplomatic relationships with Western nations.
India, in particular, demonstrates that membership in BRICS does not require choosing between “East” and “West”.
This makes BRICS better understood as a platform seeking a more multipolar global system, rather than simply an alliance against the West.
The Biggest Strengths of BRICS
BRICS has several powerful advantages.
Economic Scale
The grouping contains some of the world's largest and fastest-growing emerging economies.
Population
BRICS countries represent an enormous share of humanity.
Natural Resources
Members include major producers of energy, minerals, agricultural commodities and critical resources.
Development Finance
The New Development Bank provides an institutional alternative for financing infrastructure and sustainable development.
Technology
India and China provide substantial digital, industrial and technological capabilities.
Global South Representation
BRICS gives emerging countries across several continents a stronger platform in debates over international governance.
The Biggest Challenges Facing BRICS
Despite its growing influence, major challenges remain.
India-China Competition
Strategic mistrust between two of BRICS' largest members remains a long-term challenge.
Geopolitical Conflicts
Wars involving Russia, Iran and other regions place pressure on consensus.
Expansion
A larger membership makes BRICS more representative but also harder to manage.
Economic Imbalances
Members differ substantially in economic size and industrial capacity.
Currency Debate
Members support greater financial cooperation but do not necessarily agree on how far currency integration should go.
Delivery
The most important challenge is simple:
Can BRICS produce measurable improvements in trade, investment, infrastructure, technology and development?
The Future of BRICS
The future of BRICS will not be decided by the number of countries that join.
It will be decided by what the organisation can deliver.
If BRICS can develop:
Better infrastructure financing
Faster cross-border payments
Greater trade integration
Stronger technology cooperation
Responsible AI frameworks
Energy partnerships
Healthcare collaboration
Agricultural innovation
Skills and education networks
then it could become one of the most important platforms for emerging economies in the coming decades.
If internal rivalries prevent practical cooperation, however, its political size may not translate into real influence.
Conclusion: Why India Could Shape the Next Chapter of BRICS
BRICS has travelled an extraordinary journey.
It began as an economic acronym in 2001.
South Africa expanded it into BRICS.
The grouping later created the New Development Bank and expanded further across Africa, Asia and the Middle East.
Today, BRICS represents an increasingly important voice in discussions about global governance, development finance, trade, technology and the future of the Global South.
India occupies a particularly important position within this system.
It combines:
Strong economic growth
A massive consumer market
Population-scale digital infrastructure
World-leading payment technology
Pharmaceutical and healthcare capabilities
Agriculture and food-security experience
Startup and technology ecosystems
Growing manufacturing capabilities
Strategic relationships across competing geopolitical blocs
India's greatest contribution to BRICS may therefore not be dominating the organisation.
It may be helping BRICS work.
India has the opportunity to act as an institution-builder, technology provider, development partner and diplomatic bridge.
If BRICS can move from geopolitical symbolism to practical cooperation, India's approach in 2026 provides a strong indication of what that future could look like.
The next chapter of BRICS will not simply be about becoming bigger. It will be about becoming more useful, more connected and more capable of delivering development. India is exceptionally well positioned to help lead that transformation.
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