BRICS 2026: Key Developments

India took over the BRICS chairship from Brazil on January 1, 2026, becoming the first country to hold the presidency of the now 11-member bloc (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the UAE and Indonesia, which was formally admitted as a full member during Brazil's tenure). The 18th BRICS Summit is scheduled for September 12–13, 2026, in New Delhi, under the theme "Building for Resilience, Innovation, Cooperation, and Sustainability."

Key points to track:

  • High-stakes attendance: Xi Jinping and Vladimir Putin are both expected in New Delhi, alongside PM Modi, making it one of the most closely watched diplomatic gatherings of the year given ongoing tensions over Ukraine, West Asia and global trade realignments.
  • Institutional deepening: Under India's chairship, groups like the BRICS Youth Coordination Meeting have already convened (March 2026), and the New Development Bank — now approaching roughly $43 billion in approved lending across more than 130 projects — is targeting full operational deployment of new initiatives by the September summit.
  • Membership queue: Turkey (a NATO member) has applied for full BRICS membership ahead of the summit, a geopolitically sensitive prospect, while Nigeria is widely seen as the next likely African member. Reportedly, more than 40 countries have expressed some form of interest in engaging with BRICS.
  • India's balancing act: As chair, India has to manage competing priorities — pushing de-dollarisation and local-currency trade demands from Russia and China without alienating the US, while also using the platform to advance its Global South agenda.