New Delhi:
Under its 2026 presidency, India is all set to host the 18th BRICS Summit in New Delhi on September 12-13, marking its fourth chairship of BRICS. India previously chaired BRICS in 2012, 2016 and 2021. Each chairship has reflected the priorities and challenges of its respective period. India's repeated leadership also highlights its sustained engagement with the grouping.
India's chairship is guided by the theme "Building for Resilience, Innovation, Cooperation and Sustainability", reflecting the country's focus on strengthening existing achievements and institutional effectiveness, while placing development, sustainability, and innovation at the centre of the agenda.Today, BRICS consists of 11 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the UAE.
Collectively, these members represent 49.5 per cent of the global population, 40 per cent of global GDP, and 26 per cent of global trade.
The expanded membership has broadened BRICS' geographical reach across Asia, Africa, the Middle East and Latin America, bringing together major markets, natural resources, technological capabilities, and diverse development experiences.
The Origin of BRIC
The acronym 'BRIC' was coined in 2001 by Goldman Sachs in its Global Economics Paper, 'The World Needs Better Economic BRICs. ' Based on econometric analysis, the paper stated that Brazil, Russia, India and China would be among the world's largest economies over the following five decades. Their growing economic weight and geographical reach across three continents highlighted their emerging global significance.What Is BRICS?
BRICS, comprising 11 major emerging markets and developing countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates, serves as a key platform for consultation and cooperation on contemporary issues of global and regional significance, as well as on matters related to global political and economic governance.When Was BRIC Formed?
BRIC was formalised at the first meeting of BRIC Foreign Ministers on the sidelines of the United Nations General Assembly (UNGA) in New York in 2006. The inaugural BRIC Summit was held in Yekaterinburg, Russia, in 2009.It was agreed to expand BRIC into BRICS with the inclusion of South Africa at the BRIC Foreign Ministers' meeting in New York in 2010. Accordingly, South Africa attended the 3rd BRICS Summit in Sanya in 2011.Egypt, Ethiopia, Iran, Saudi Arabia and the UAE became full members of BRICS in January 2024, while Indonesia became a full member in January 2025.Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam joined BRICS as partner countries in 2025.
The Aim, Objectives And Areas of Cooperation
At the initial stage, BRICS was envisioned as a forum for dialogue on key issues shaping the international agenda, with an early focus on developing common positions on global political and economic matters.Seeking a more democratic, legitimate and balanced international order, the grouping stressed sustainable economic and social development, social inclusion and shared prosperity among emerging economies. Over time, these priorities led to deeper and broader engagement among members.BRICS advocates greater representation and equity in international institutions, including the World Trade Organization (WTO) and the global financial architecture. These efforts seek to make global governance more inclusive, effective and responsive to contemporary challenges.
From Crisis To Joint Action
The 2008 global financial crisis became a defining moment in the evolution of BRICS, highlighting gaps in the existing global financial architecture and creating a need for broader consensus on global economic governance.The four BRIC countries voiced a common position on these issues, calling for a more representative international financial system.
They sought a greater voice for emerging economies in the International Monetary Fund (IMF) and World Bank. They also opposed protectionism and supported an open, rules-based multilateral trading system. This coordination laid the foundation for the first BRIC Summit in Yekaterinburg, Russia, in 2009.