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India's BRICS Presidency Faces Wars, Trade Tensions and Global Turmoil
India is leading BRICS in 2026 and will host its next big meeting in New Delhi.
BRICS is a group of countries that work together on economic and global issues.
The group has gained more members, but it does not yet have a permanent headquarters.
India may suggest creating a permanent secretariat in New Delhi.
BRICS is discussing ways to trade more using members’ own currencies instead of relying so heavily on the US dollar.
This does not mean the group is ready to create one shared currency.
Countries in BRICS have different political and security interests, so they are unlikely to form a military alliance.
India hopes its policy of working with both Western and non-Western groups will help members agree on a summit declaration.
India will host the 18th BRICS Summit in New Delhi on September 12 and 13 under its 2026 chairship.
The summit theme is “Building for Resilience, Innovation, Cooperation and Sustainability”, emphasizing development, sustainability and innovation.
BRICS has expanded across the Global South but still lacks a permanent headquarters and bureaucracy.
India is expected to promote local-currency trade, financial autonomy and a possible permanent BRICS secretariat in New Delhi, rather than a common currency.
The grouping is expected to remain focused on economic cooperation and global governance, not become a military alliance like NATO.
- Who
- India, BRICS member states and Dr Anshu Joshi of Jawaharlal Nehru University’s School of International Studies.
- What
- India is preparing to host the 18th BRICS Summit and shape the group’s agenda during its 2026 chairship.
- Where
- New Delhi, India.
- When
- September 12 and 13, during India’s 2026 BRICS chairship.
- Why
- The summit will address development, sustainability, innovation, financial autonomy, energy security, supply-chain disruptions and global governance amid wars and trade tensions.
Key facts
- Summit
- The 18th BRICS Summit will be held in New Delhi on September 12 and 13.
- 2026 theme
- “Building for Resilience, Innovation, Cooperation and Sustainability.”
- Institutional proposal
- India is proposing a permanent BRICS secretariat or headquarters in New Delhi.
- New Development Bank
- The bank has financed more than $30 billion to $35 billion in infrastructure projects across member nations, according to the interview.
- Financial direction
- BRICS is promoting local-currency settlements and interoperable digital payment mechanisms rather than an immediate common currency.
- Proposed payment system
- BRICS Pay is described as a proposed cross-border payment system designed to operate independently of Western networks such as SWIFT.
- Military role
- The interview characterizes BRICS as an economic and governance grouping, not a military alliance.
Quotes
Dr Anshu Joshi
School of International Studies scholar at Jawaharlal Nehru University
“India has made it clear that being part of BRICS or the SCO does not mean opposing the West. It is not about being anti-West. It is about being non-Western while pursuing India's own national interests, strategic autonomy and a multipolar world.”
wionews.com
“No, BRICS is not a military alliance. From the beginning, its core agenda has focused on financial autonomy, economic development and infrastructure, particularly for Global South nations.”
wionews.com
Sources
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