The BRICS bloc convened its annual summit in New Delhi on Saturday, bringing together heads of state from Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. Hosted by Indian Prime Minister Narendra Modi, the gathering aims to address trade, investment, and pressing global conflicts as the coalition seeks to amplify its influence on behalf of emerging economies.
The summit arrives at a precarious moment for the group, with ongoing wars in Ukraine and the Middle East, alongside escalating tensions between the United States and China, challenging the bloc’s ability to maintain cohesion among members with divergent geopolitical interests. Security has been tightened significantly, with thousands of police and paramilitary forces deployed across the capital and traffic restrictions enforced around the venue.
Founded in 2006 by Brazil, Russia, India, and China, and joined by South Africa four years later, BRICS has expanded to 11 members. The group now represents roughly half of the global population and commands a substantial portion of worldwide economic output, increasingly advocating for greater representation of developing nations within international institutions.
Central to the agenda is economic cooperation spanning energy, food security, technology, and supply chains, as well as reforms to global financial architecture. A primary objective is reducing dependence on the US dollar, with member states promoting the use of national currencies in trade and payments while advocating for alternatives to Western-dominated financial systems.
Russian President Vladimir Putin, addressing the BRICS Business Forum in New Delhi on Friday, emphasized that the grouping does not oppose any nation and remains open to global cooperation. “We are in favor of our interests,” he stated. Iranian President Masoud Pezeshkian echoed calls for financial independence, highlighting the need to shield members from economic pressure and sanctions. “One of the most important steps is to expand the use of national currencies in trade among the members,” Pezeshkian told reporters.
China views BRICS as a strategic instrument to counterbalance US power and deepen its influence within the coalition. Chinese Foreign Ministry spokesperson Mao Ning confirmed that President Xi Jinping would discuss major international issues and ways to strengthen intra-bloc cooperation.
For India, the summit presents an opportunity to demonstrate its strategic balancing act. New Delhi continues to nurture ties with Russia and Iran while simultaneously expanding economic, defense, and technological partnerships with Washington and European allies. Modi held separate bilateral meetings with Putin and Pezeshkian on Friday ahead of the main proceedings.
Additionally, India hopes to use the forum to ease long-standing diplomatic friction with China. Modi and Xi are scheduled to meet on Saturday, a discussion expected to consolidate a thaw in relations following escalated border tensions in 2020.
A significant challenge for India as summit host is securing a unified joint statement from all leaders. Such divisions were visible in May when foreign ministers failed to reach an agreement on the Iran conflict, forcing India to issue a chair’s summary instead. The bloc’s unity is expected to be further tested as members navigate differing positions on the Iran war, which was triggered by US-Israeli strikes on February 28, and amid growing tensions between Saudi Arabia and Yemen’s Houthi rebels.
I hope this summit focuses more on tangible trade agreements rather than just anti-Western sentiment. Our economy needs concrete results, not just geopolitical posturing.
Doubt we will see a unified joint statement this time. The differences on Iran and Ukraine are too deep for this group to hide behind polite rhetoric.
It is fascinating to see how India manages to host these discussions while maintaining strong ties with both the West and BRICS members. A delicate diplomatic tightrope.