As the new year dawns, India officially assumes the BRICS chairmanship, inheriting the reins from Brazil and ushering in a year where the world will be watching to see if the bloc can ease looming trade tensions. This marks the first time India leads the expanded BRICS format, which now includes ten member nations. The bloc comprises nearly half the world's population, and accounts for approximately 29% of the global GDP and 23% of international trade.
Prime Minister Narendra Modi has already laid out India's vision for its BRICS presidency, centered around the theme of "Humanity First". Modi has proposed to redefine BRICS as "Building Resilience and Innovation for Cooperation and Sustainability," mirroring the approach India took during its G20 presidency, where the concerns of the Global South were prioritized.
India's BRICS agenda will focus on four core pillars: resilience, innovation, cooperation, and sustainability. Strengthening economic and strategic systems, promoting collaboration in emerging technologies, reinforcing BRICS as a platform for dialogue, and focusing on green energy transitions are among the key priorities. A flagship initiative will be promoting digital public infrastructure as a development model for the Global South.
However, India takes over the BRICS chair at a complex geopolitical moment. Trade relations between India and the U.S. have been strained following tariff impositions by the U.S.. Moreover, there are growing concerns about rising protectionism and the use of tariffs as a tool for coercion, which could marginalize Global South countries. Some analysts believe India will likely avoid a currency confrontation with the U.S., and instead emphasize inclusive growth and multilateral reform.
India will have to navigate a path that balances the interests of the Global South with its relationship with the United States. While the Russia-China coalition is perceived by some as an anti-U.S. bloc, India is likely to prioritize development and cooperation, while maintaining strong ties with Washington.
Despite the challenges, there is optimism surrounding India's leadership. Belarusian President Aleksander Lukashenko expressed confidence that India's presidency will be a period of new successes for the grouping and thanked India for its support in Belarus gaining partner country status.
The BRICS nations are forecast to see average growth of 3.7% in 2026, exceeding the 1.1% growth expected across G7 countries. While GDP growth may be slower in BRICS nations compared to previous years, India is projected to see one of the fastest growth rates within the bloc, at 6.2% in 2026.
India's role in BRICS also provides an opportunity to promote multipolar governance and local currency trade. While the U.S. dollar remains dominant, the ongoing weaponization of the dollar may intensify efforts by other countries to seek alternatives.
As India assumes the BRICS presidency, the world will be watching to see if it can successfully navigate these challenges, promote cooperation among member states, and provide leadership for the Global South in an era of increasing trade tensions and geopolitical uncertainty. The 18th BRICS Summit in 2026, hosted by India, will be a key moment to assess the progress and direction of the bloc under India's guidance.
