India, as the BRICS Chair for 2026,
recently hosted the BRICS Foreign Ministers’ Summit in New Delhi
India, as the BRICS Chair for 2026, recently hosted
the BRICS Foreign Ministers’ Summit in New Delhi on 14–15 May 2026.The Meeting
was held under the theme “Building for Resilience, Innovation, Cooperation and
Sustainability”.The meeting discussed global and regional developments, reform
of multilateral institutions, economic cooperation, and priorities for
BRICS@20.Unlike previous meetings, the summit concluded without a joint
ministerial communiqué because of differences among member states over the West
Asia conflict, particularly tensions involving Iran and the UAE. India instead
issued a “Chair’s Statement and Outcome Document”.India is the present chair of
BRICS from 1 January 2026 and is scheduled to host the 18th BRICS Summit later
in 2026.India will chair BRICS for the fourth time in 2026, having previously
held the Chairship in 2012, 2016, and 2021.
Key Outcomes of the Summit
Reform of Global Governance
¨
BRICS Foreign Ministers
reiterated the need for comprehensive reform of global governance institutions
to make them more representative, democratic, and responsive to contemporary
geopolitical realities.
¨
India strongly advocated
reforms of the UN Security Council and greater representation for developing
countries, especially from Asia, Africa, and Latin America.
¨
Focus on BRICS@20
Priorities: Discussions were held under India’s BRICS@20 agenda centred on
resilience, innovation, sustainability, economic cooperation, and strengthening
the voice of the Global South.
West Asia Conflict and Internal
Divergences
¨
The summit witnessed
significant divisions over the ongoing West Asia conflict, particularly
regarding the positions of Iran and the UAE, preventing the adoption of a
consensus joint statement.
¨
While members broadly
supported respect for sovereignty, civilian protection, and regional stability,
disagreements emerged over references to Iran, Israel, Red Sea security, and
the role of external powers.
¨
Counter-Terrorism and
Security Cooperation: The ministers reiterated strong opposition to terrorism
in all its forms and called for enhanced international cooperation against
terrorism, extremism, and transnational organised crime.
BRICS
¨
The term “BRIC” was first
coined by Goldman Sachs economist Jim O’Neill in 2001, highlighting the growth
potential of Brazil, Russia, India, and China to challenge the dominance of G7
economies.
¨
The first official BRIC
(Brazil, Russia, India and China) summit took place in Yekaterinburg, Russia,
in 2009. South Africa joined in 2010 (making it BRICS).
¨
Currently, the grouping
is comprised of eleven countries: Brazil, China, Egypt, Ethiopia, India,
Indonesia, Iran, Russia, Saudi Arabia, South Africa, United Arab Emirates.
¨
First major expansion of
BRICS took place in 2024 with Egypt, Ethiopia, Iran, Saudi Arabia and UAE
becoming member countries. Further, Indonesia joined BRICS in 2025.
¨
In 2023, Argentina was
also invited to join BRICS. However, Argentina later declined the invitation,
while Saudi Arabia is yet to formally ratify its membership.
¨
BRICS represents a
combined population of approximately 3.6 billion (almost 48% of the world’s
population).
¨
It accounts for around
40% of global GDP in purchasing power parity (PPP) terms.
¨
The bloc relies on
consensus-based decision-making and is largely informal with no defining
charter or secretariat.
¨ Established in 2014 and headquartered in Shanghai, the BRICS’ New Development Bank (NDB) finances infrastructure and sustainable development projects in BRICS and other developing countries.
¨ The BRICS Contingent Reserve Arrangement (CRA) is afinancial safety net that provides liquidity support to member countries facing balance of payments crises.
