India’s BRICS 2026 chairmanship places trade, technology, financial connectivity and sustainable development at the centre of a changing global order.

India hosted the 18th BRICS Summit in New Delhi on 12–13 September 2026, bringing together leaders of the expanded BRICS grouping at a time of major geopolitical and economic change. Under India’s chairship, the grouping focused on resilience, innovation, cooperation and sustainability, with discussions ranging from international trade and financial reform to technology, infrastructure, energy and global conflicts. 

The summit also provided an important platform for India to strengthen its bilateral relationships with major powers, particularly Russia and China, while simultaneously projecting India as a hub for technological innovation and Global South cooperation.

India-Russia Relations: Trade and Strategic Cooperation

One of the most closely watched developments surrounding the summit was the meeting between Prime Minister Narendra Modi and Russian President Vladimir Putin.

India and Russia reiterated their intention to strengthen their longstanding strategic partnership despite the geopolitical uncertainties created by the Russia-Ukraine conflict and growing international economic pressures. The two sides discussed cooperation in areas including trade, energy, infrastructure, defence, technology and civil nuclear cooperation. 

A particularly significant economic objective is the ambition to increase bilateral trade to US$100 billion by 2030. The target reflects the desire to diversify the relationship beyond traditional areas and expand cooperation in pharmaceuticals, agriculture, engineering goods, industrial production and other sectors. 

The two countries are also exploring greater cooperation in civil nuclear energy, while industrial collaboration, railway and tunnelling projects and the development of a stronger steel value chain remain important areas of economic engagement.

The wider geopolitical situation, including the effects of the Russia-Ukraine conflict on trade routes and maritime commerce in the Black Sea region, adds another layer of importance to India’s discussions with Moscow.

A New Approach to Cross-Border Payments

Another major theme of the BRICS economic agenda is the development of faster, cheaper and safer cross-border payment mechanisms.

Finance ministers and central bank governors from BRICS countries have discussed practical ways to improve cross-border payments and encourage settlements in local currencies. The BRICS Payment Task Force (BPTF) has been examining the interoperability of payment and messaging systems and ways of facilitating trade and investment between member countries. 

This initiative is particularly significant because countries such as India and Brazil already have successful domestic instant-payment systems, including UPI and Pix. Connecting such systems internationally could make cross-border transactions more efficient and reduce dependence on conventional payment channels. 

Importantly, the objective is not simply to create a common BRICS currency. Rather, the emphasis has been on interoperability, local-currency settlements and practical payment solutions, while respecting the monetary and financial priorities of individual countries. 

Bharat Innovates: Technology Takes Centre Stage

Perhaps one of the most distinctive features of India’s BRICS chairmanship was the emphasis on deep technology and innovation.

The Bharat Innovates Exposition, organised at Bharat Mandapam alongside the BRICS events, showcased 37 Indian deep-tech innovations. The exhibition connected startups, higher-education institutions, laboratories and research organisations with potential international investors, corporations and technology partners. 

Among the innovations showcased were:

• Floating solar photovoltaic platforms designed for complex water bodies
• Marine robotic platforms for critical infrastructure inspection
• AI-enabled cervical cancer screening
• Rare-earth-free electric powertrain technology
• AI-based maternal-fetal monitoring systems
• Other emerging technologies aimed at healthcare, clean energy and infrastructure.

These innovations demonstrate how India’s technological ecosystem is increasingly moving beyond conventional IT services towards deep-tech solutions addressing real-world problems. 

The exposition was also designed to encourage technology partnerships, investment, business linkages and international market access, giving Indian innovators an opportunity to engage directly with the wider BRICS ecosystem.

Innovation for Infrastructure and Sustainability

The focus on technology has a larger significance. Developing countries face common challenges involving energy security, climate change, infrastructure maintenance, healthcare accessibility and sustainable urbanisation.

Technologies such as floating solar power can help countries expand renewable-energy capacity where land availability is limited. Marine robotics can reduce risks and costs associated with inspecting bridges, underwater structures and other critical infrastructure. Similarly, AI-based healthcare tools can potentially make early diagnosis and monitoring more accessible.

Thus, the Bharat Innovates initiative represents an attempt to connect innovation with development, rather than treating technological advancement as an isolated economic activity.

BRICS and the Changing Global Economic Order

The developments at the New Delhi summit indicate that BRICS is evolving beyond its original identity as a grouping focused primarily on emerging-market cooperation.

The expanded grouping now represents a substantial share of the world’s population and economic output. Its agenda increasingly includes financial reform, local-currency transactions, development finance, technology, energy, infrastructure, healthcare and sustainable development. 

At the same time, the grouping faces significant challenges. Its members have different economic interests, political systems and geopolitical priorities. Consequently, transforming declarations into concrete institutions and functioning mechanisms will require sustained cooperation.

The New Delhi Declaration therefore represents an important political commitment, but its long-term significance will depend on implementation rather than declarations alone. 

Conclusion

India’s 2026 BRICS chairmanship has attempted to give the grouping a more practical and development-oriented character. The emphasis on trade expansion, local-currency payments, technological innovation, infrastructure and sustainable development reflects the changing priorities of emerging economies.

The India-Russia discussions demonstrate the continuing importance of strategic and economic partnerships, while the Bharat Innovates exposition highlights India’s ambition to become not merely a consumer of advanced technology but an important creator and exporter of technological solutions.

The real test for BRICS, however, will be whether these initiatives can move from diplomatic commitments to measurable outcomes. If successful, the New Delhi summit could strengthen BRICS as an important platform for economic cooperation and give the Global South a greater voice in shaping the emerging international order.