India is poised to assume the presidency of the BRICS+ group on January 1, 2026, taking over from Brazil, after its term that began on January 1, 2025. This transition occurs amidst a complex global landscape defined by conflicting interests, ambitious global agendas, and persistent pressure from the United States.
The BRICS+ bloc, which now includes Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates, represents a significant force in the global south. These nations account for a substantial portion of the world's population and economic output, wielding considerable influence in energy, raw materials, manufacturing, and consumer markets.
India's leadership comes at a crucial time. Prime Minister Modi has articulated a vision to give a "new direction" to BRICS, emphasizing cooperation, sustainability, and institutional reform. At the 17th BRICS Summit in Rio de Janeiro on July 7, 2025, Modi proposed redefining BRICS as "Building Resilience and Innovation for Cooperation and Sustainability," highlighting a people-centric approach that mirrors India's G20 presidency, which prioritized the Global South. Modi has also stressed the need for joint global efforts to tackle pandemics and climate change, advocating for reforms in global institutions to better reflect the realities of the 21st century.
However, India's path is fraught with challenges. BRICS+ is not a homogenous political alliance, and member states often have divergent and sometimes conflicting interests. For instance, there are simmering border disputes and growing tensions between China and India. Brazil and India, as democracies, maintain strong ties with the West, while Russia and Iran are under heavy sanctions. These differing geopolitical orientations make it difficult to align interests and pursue unified policies.
One of the key objectives of BRICS is to challenge the dominance of the US dollar and the Western-dominated global order. BRICS countries are actively exploring an independent payment system to reduce reliance on the US dollar, a move that has raised concerns in Washington. The New Development Bank (NDB), the financial arm of BRICS, is playing a critical role in this transition by increasing local currency lending to 30% of its total portfolio by 2026.
The United States has viewed BRICS with skepticism, with the Trump administration previously threatening tariffs on BRICS nations and accusing the bloc of seeking to undermine American influence. Despite these pressures, BRICS has continued to expand, signaling the limitations of using tariffs as a deterrent. Moreover, the US approach to trade and international relations has inadvertently pushed India, Russia, and China closer, strengthening BRICS as a platform.
India's global ambitions extend beyond BRICS. The country is experiencing a surge in cross-border merger and acquisition (M&A) activity, driven by its economic resilience and strong investor interest. Experts anticipate this trend to continue into 2026, with key sectors like finance, manufacturing, technology, healthcare, and infrastructure leading the way. The Indian government's support and favorable regulatory environment are further boosting this M&A momentum, which is expected to significantly boost economic growth and create employment opportunities.
As India assumes the BRICS+ presidency, it faces the complex task of balancing multifaceted interests, fostering mutual trust, and ensuring that the bloc contributes to a more multipolar world system. India's success will hinge on its ability to manage internal contradictions, promote cooperation, and drive concrete action on key issues such as economic development, climate change, and global governance reform. The 18th BRICS Summit in 2026, to be hosted in New Delhi, will be a crucial test of India's leadership and its vision for the future of BRICS.
