Archive · 7 Sep 2026
BRICS 2026 Tests Whether Intra-Bloc Trade Can Replace Western Markets
BRICS countries are preparing for a major meeting hosted by India in September 2026.
They are dealing with wars, tensions over Iran, and disagreements between India and China.
The United States may impose very high tariffs on countries that buy Russian oil and gas.
This could affect several BRICS members.
BRICS countries trade much more with the United States and Europe than with one another.
Because of this, they cannot easily stop doing business with Western markets.
They may try to improve trade, payment systems and energy cooperation among themselves.
India wants BRICS to work together without turning it into a group directed against the West.
India will host the 18th BRICS Summit at Bharat Mandapam on 12-13 September 2026 under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.”
The summit will follow the Shanghai Cooperation Organisation’s 26th Summit in Bishkek, where members condemned US-Israel strikes on Iran and backed a multipolar world order.
A US Senate bill authorizes tariffs of up to 100% on major buyers of Russian oil and gas, potentially affecting India, China and Brazil.
Intra-BRICS merchandise trade is estimated at USD 700-800 billion annually, compared with more than USD 5 trillion in combined BRICS trade with the United States and European Union.
India is expected to pursue calibrated diplomacy, seeking cooperation on payments, supply chains and energy while preventing BRICS from becoming exclusively anti-Western.
- Who
- India and the BRICS member states, including China, Iran, Russia, the United Arab Emirates, Saudi Arabia and Brazil.
- What
- The 18th BRICS Summit will address global conflicts, tariff threats, intra-BRICS trade, energy security and the grouping’s future direction.
- When
- 12-13 September 2026; it will follow the 26th Shanghai Cooperation Organisation Summit held roughly ten days earlier.
- Where
- Bharat Mandapam in India; the preceding Shanghai Cooperation Organisation Summit was held in Bishkek.
- Why
- India aims to build resilience, innovation, cooperation and sustainability while managing geopolitical and economic turbulence.
BRICS as a Reform Platform
BRICS as a Western Counterweight
Strategic purpose
BRICS as a Reform Platform
India favors a genuinely multipolar grouping focused on reform, cooperation and strategic autonomy rather than confrontation with the West.
BRICS as a Western Counterweight
China increasingly views BRICS as a pillar of an alternative international architecture designed to reduce Western influence.
Response to US tariff pressure
BRICS as a Reform Platform
Members should strengthen payment systems, supply chains and financial cooperation, while recognizing that Western market access remains economically important.
BRICS as a Western Counterweight
External tariff pressure could justify stronger bloc solidarity and a larger role for intra-BRICS trade.
Iran and regional conflicts
BRICS as a Reform Platform
India is expected to keep the summit’s focus on resilience and cooperation and avoid allowing any single member’s conflict to dominate the agenda.
BRICS as a Western Counterweight
Iran is seeking a common BRICS position against US-Israeli military action, while Russia also seeks sanctions relief and political support.
- Host
- India
- Summit
- 18th BRICS Summit
- Dates
- 12-13 September 2026
- Venue
- Bharat Mandapam
- Theme
- Building for Resilience, Innovation, Cooperation and Sustainability
- Intra-BRICS trade
- Approximately USD 700-800 billion annually
- Potential US tariffs
- Up to 100% on major importers of Russian oil and gas