The emergence of BRICS reflects one of the most important transformations in the international system since the beginning of the twenty-first century. What began as a grouping of Brazil, Russia, India and China, with South Africa joining later, has evolved into a broader platform representing major emerging economies and a significant share of the world's population and economic output. Its expansion has increased both its potential and its internal diversity.
For India, BRICS is not merely an instrument for challenging the Western international order. It is an important platform through which New Delhi can advance strategic autonomy, economic cooperation, technological development and the interests of the Global South. India's 2026 BRICS chairship provided an opportunity to move the organisation from political declarations to practical cooperation in trade, investment, technology, innovation and sustainable development. India had placed its chairship under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”.
India's Leadership in BRICS
India has traditionally approached BRICS through a pragmatic and multipolar perspective. Unlike an alliance directed against a particular power, India sees BRICS as a platform for strengthening the voice of emerging economies while maintaining relationships with different centres of global power.
This approach is particularly important because BRICS contains countries with competing strategic interests. India has significant disagreements with China while simultaneously cooperating with Beijing within multilateral institutions. Similarly, India maintains close relations with Russia while deepening partnerships with the United States, Europe, Japan and other economies.
Therefore, India's leadership can provide BRICS with a bridge-building role rather than turning it into an explicitly anti-Western bloc. This distinction is important for the organisation's future credibility. Recent assessments have highlighted the internal differences within the enlarged BRICS, particularly over geopolitics and the direction of the organisation. India's 2026 priorities of resilience, innovation, cooperation and sustainability provide a framework for addressing these differences through practical economic and developmental initiatives.
Economic and Trade Cooperation
The greatest opportunity for India within BRICS lies in strengthening intra-BRICS trade and investment. The expanded grouping contains major producers of energy, food, minerals, manufactured goods and technological products. However, its economic potential will remain underutilized unless trade barriers, regulatory differences, payment difficulties and logistical constraints are reduced.
India should therefore use its leadership to promote a more predictable and transparent BRICS trading environment. At the 2026 BRICS Business Forum, External Affairs Minister S. Jaishankar stressed the importance of transparent and open trade and investment practices in responding to global economic volatility.
India can promote cooperation in sectors where it has significant capabilities, including pharmaceuticals, information technology, automobiles, engineering goods, digital services, agriculture, renewable energy and healthcare. BRICS cooperation can also help Indian companies access new markets in Africa, Latin America, West Asia and Southeast Asia.
Particular attention should be given to micro, small and medium enterprises and start-ups. Large corporations can independently enter international markets, but smaller enterprises often face difficulties related to finance, information, logistics and regulatory compliance. A BRICS framework for easier market access, digital trade and trade finance could substantially increase participation by smaller businesses.
India's emphasis on identifying trade barriers, expanding start-up cooperation and creating new business partnerships during its 2026 chairship points in this direction.
Technology and Innovation: The Next Frontier
The future relevance of BRICS will increasingly depend on whether it can become a platform for technological cooperation rather than remaining primarily a diplomatic forum. India should advocate cooperation in artificial intelligence, semiconductor manufacturing, cybersecurity, quantum technologies, biotechnology, space technology and digital public infrastructure.
A BRICS technology partnership could establish joint research programmes, innovation funds and technology incubators connecting universities, start-ups and industries across member states. Such cooperation would reduce technological dependence while encouraging competition and innovation.
Semiconductors and critical minerals deserve particular attention. Modern economies depend on secure supplies of advanced chips and minerals required for electronics, electric vehicles, renewable energy and defence technologies. Supply chain resilience in these areas should therefore become a central component of India's BRICS agenda.
India can also promote cooperation between BRICS technology companies rather than limiting cooperation to governments. A BRICS Start-up and Innovation Network could connect entrepreneurs, investors and research institutions across member states.
Financial Cooperation and Local Currencies
Another important area is financial cooperation. BRICS countries have increasingly discussed reducing vulnerabilities arising from excessive dependence on a single international currency. Russian President Vladimir Putin has promoted a major BRICS financial initiative, calling for the development of a new payment, settlement and depository infrastructure within the bloc. The proposal could strengthen trade between BRICS members and reduce their exposure to external financial pressure. Putin also backed greater use of independent trade and banking channels as BRICS expands its economic influence.
However, the common BRICS currency faces certain economic and political difficulties, India can advocate interoperable payment systems, greater use of national currencies and improved cross-border settlement mechanisms. Because India has an important advantage here, its experience with digital public infrastructure, particularly interoperable digital payments, provides a model that could be adapted for wider BRICS cooperation. India's own digital payment experience demonstrates the deep credibility in this field. Recent discussions around BRICS payments have similarly focused on facilitating transactions and reducing dependence on conventional financial channels rather than creating an immediate common currency. The objective should not be the destruction of the existing global financial system. Instead, BRICS should contribute to a more diversified, resilient and inclusive international financial architecture.
India and the Global South
India's BRICS leadership also provides an opportunity to strengthen its position as a voice of the Global South. Developing countries frequently face challenges involving access to finance, technology, healthcare, energy and markets. India can therefore use BRICS to advocate reforms of institutions such as the United Nations, World Trade Organization, World Bank and International Monetary Fund while simultaneously promoting practical development cooperation.
The New Development Bank can play a particularly important role in financing infrastructure, clean energy, transportation and digital connectivity in developing economies. BRICS should focus not simply on expanding its membership but also on ensuring that its institutions deliver visible economic benefits.
The strategic priorities must include deepening the trade; India should work towards reducing non-tariff barriers, improving customs cooperation and expanding digital trade.
Second, build technological partnerships, joint research in AI, semiconductors, biotechnology, quantum computing, space and cybersecurity, and this should become permanent BRICS programmes.
Third, strengthen financial connectivity, interoperable digital payment systems and greater settlement in national currencies can reduce transaction costs while maintaining monetary flexibility.
Fourth, build resilient supply chains, cooperation in critical minerals, pharmaceuticals, food, energy and semiconductor supply chains can protect BRICS economies from external disruptions.
Fifth, make BRICS business-oriented, governments, businesses, start-ups, universities and financial institutions should be connected through permanent platforms rather than meeting only during annual summits.
The proposed BRICS Economic Partnership 2030 could provide a useful long-term framework by concentrating on trade, investment, digital economy, innovation and sustainable development.
Conclusion
India's importance within BRICS lies not simply in its economic size or diplomatic weight but in its ability to connect different parts of an increasingly fragmented international system. India's strategic autonomy allows it to cooperate with China and Russia within BRICS while simultaneously maintaining strong relations with the United States, Europe and other partners.
The future of BRICS should therefore not be defined by whether it becomes an anti-Western alliance but its success should instead be measured by whether it can create new opportunities for trade, investment, technology, innovation and sustainable development.
India's 2026 chairship offers a significant opportunity to give BRICS a more practical and development-oriented identity. If New Delhi can translate its principles of resilience, innovation, cooperation and sustainability into concrete economic and technological projects, it can strengthen both BRICS and its own position as a leading power of the Global South.
Ultimately, India's leadership should seek not a divided world but a more balanced one, where emerging economies possess greater economic choices, technological capabilities and institutional representation. In this sense, India's future role in BRICS will be less about leading one bloc against another and more about helping construct a multipolar, economically connected and technologically innovative international order.
References;
1. Government of India, Prime Minister’s Office. (2026). BRICS New Delhi Declaration: Building for Resilience, Innovation, Cooperation and Sustainability, September 12, 2026.
2. Ministry of External Affairs, Government of India. (2026). BRICS India 2026: India's BRICS Chairship.
3. Press Information Bureau, Government of India. (2026). BRICS: Shaping an Inclusive Global Order. September 10, 2026.
4. Ministry of External Affairs, Government of India. (2025). Brief on BRICS.
5. THE ECONOMIC TIMES, BRICS must adopt transparent trade and investment practices to counter global market volatility, says Jaishankar at Business Forum.