Background
India has taken over the highest‑profile multilateral forum of the last six years. The 2026 BRICS summit in New Delhi brings together the leaders of eleven countries, including Russia, China, Brazil, South Africa, the UAE and Iran, plus an invited member from Saudi Arabia. The platform is set to decode a host of geopolitical and economic concerns—from the Iran war to the Ukraine conflict—against a backdrop of rising U.S. assertiveness under President Donald Trump.
Trump’s Influence Lingers
Even though the United States is not a member of BRICS, Trump’s policy current is felt everywhere. In late 2024, he warned that BRICS members would face “100 % tariffs” if they sought an alternative currency to the U.S. dollar, raising alarms in Moscow and Tehran. The threat of new trade sanctions has destabilised energy markets and has prompted all BRICS leaders to tread carefully when addressing U.S. policy.
Internal Divisions
India, still negotiating a trade agreement with the U.S., fears a contentious statement could undermine its diplomatic leverage in Washington. China fears being seen as a vehicle to attack the dollar, and the UAE—host to U.S.‑run naval bases—refuses any rhetoric that could open up Tehran’s ire. The gulf over how confrontational to be with Washington remains a primary obstacle to a unified declaration.
BRICS’s Economic Power
With 49 % of the world’s population, 40 % of global GDP and 26 % of international trade, the bloc has grown into a major geopolitical player. Its most tangible achievements— the $37 bn New Development Bank and a $100 bn contingency reserve—stress its capacity to support the global south. Leaders are expected to push for local‑currency cross‑border payments and reforms of the United Nations, IMF and World Bank to reflect the new balance of power.
Bilateral Highlights
Mufti Modi will meet Chinese Leader Xi Jinping on Saturday and Russian President Vladimir Putin on Friday, each meeting likely to revisit the Russia‑Ukraine war, the Iran conflict, and India’s trade deficits. Modi’s public appeal for peace at the Shanghai Cooperation Organisation summit last month will be a key talking point between him and Putin.
India’s Host Stakes
Historically, India has been adept at securing consensus statements, as proved in the G20 summit in 2023. This time, Delhi faces a challenge, with the recent misalignment over the Iran war at the previous BRICS foreign‑minister meeting. A strong, joint declaration would demonstrate BRICS’s relevance and cement India’s role as the voice of the global south, a narrative the Modi administration seeks to advance.
Looking Ahead
While the summit’s outcome depends on delicate diplomacy, it is expected to reinforce BRICS’s global standing and produce substantive announcements on finance, trade and geopolitics. Washington will watch closely, wary of any attempt by the bloc to shift the global financial architecture.
