India Takes the Helm: BRICS+ Presidency in 2026
By rotational procedures and consensus adopted in Brazil in December, India has taken over the BRICS+ presidency for 2026, underscoring its highly enriching founding membership and gracious prospect to deepen the intergovernmental association as a leading geopolitical force in the Global south. Brazil took over the BRICS presidency from Russia on January 1, 2025. following its expansion, BRICS+ currently comprises ten countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the united Arab Emirates.
Historically, its conceptual origins were articulated by Russian Foreign Minister Yevgeny Primakov in 1998 and can be traced to a series of informal forums and dialogue groups such as RIC (Russia, India, and China) and IBSA (India, Brazil, and South Africa). in addition to that significant aspect of its history, BRIC was originally a term coined by British economist Jim O’Neill and later championed by his employer, Goldman Sachs, in 2001, to designate a group of emerging markets.
The bloc’s inaugural summit was held in 2009 (Yekaterinburg summit) and featured the founding countries of Brazil, Russia, India, and China. These four founding members adopted the acronym BRIC and formed an informal diplomatic club where their governments could meet annually at formal summits and coordinate multilateral policies. The following year, South Africa officially became a member after it was formally invited and supported by China and unreservedly backed by India and Russia.
South Africa joined the association in September 2010, which was then renamed BRICS, and attended the third summit in 2011 as a full member. The biggest expansion witnessed Iran, Egypt, Ethiopia, and the United Arab emirates attending the frist summit as member states in 2024 in Kazan, the autonomous Republic of Tatarstan, part of the Russian Federation. Later on,Indonesia officially joined in early 2025,becoming the first Southeast Asian member.The acronym BRICS+ or BRICS Plus has been informally used to reflect new membership since 2024.
On 24 October 2024, an additional 13 countries, namely Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, thailand, Turkey, Uganda, Uzbekistan, and Vietnam, were invited to participate as “partner countries.” The partner status would allow these countries to engage with and benefit from BRICS initiatives. It is indeed still unclear whether the countries in this tier have received official membership invitations. But there is a high possibility to ascend to the association as full-fledged members in the future.
India’s Rotating BRICS Presidency
leaders’ meetings (or leaders’ summits) are held once a year on a rotating basis. BRICS has neither a permanent seat nor a secretariat. A number of ministerial meetings, such as, between foreign ministers, finance ministers, central bank governors, trade ministers, and energy ministers in the country that is presiding over the BRICS+ association.
Speaking at the BRICS summit back in 2014, Prime Minister Narendra Modi has assertively said that “reform of institutions of global governance … has been on the BRICS agenda as its inception.”
Later, prior to the Kazan summit, Prime Minister Modi explicitly stated that BRICS was never meant to be against anyone or be anti-western and that it is only non-western. At the Kazan summit,Prime Minister Modi further stated,”We must be careful to ensure that this organization does not acquire the image of one that is trying to replace global institutions.”
At the 17th BRICS Summit held in Rio de Janeiro on 7 July 2025, Prime Minister Modi stated that India would give a “new form” to the BRICS grouping during its presidency in 2026.
Prime Minister Modi proposed redefining BRICS as “Building Resilience and Innovation for Cooperation and Sustainability” and emphasized a people-centric approach, drawing parallels with India’s G-20 presidency, where the Global South was prioritized.
Prime Minister Modi affirmed that India would advance BRICS with a focus on “humanity first,” highlighting the need for joint global efforts to address common challenges such as pandemics and climate change.
Prime Minister Modi also called for urgent reform of global institutions to reflect the realities of the 21st century, emphasizing
BRICS Expansion and the New Development Bank: A Growing force in Global Geopolitics
The BRICS economic bloc – initially comprised of Brazil, Russia, India, China, and South Africa – is rapidly evolving, expanding its membership and influence on the global stage. Central to this development is the New Development Bank (NDB), established to finance infrastructure and enduring development projects in member countries and beyond. As of late 2024, BRICS+ (including new members) represents over a quarter of the global economy and nearly half the world’s population, generating 36% of global GDP. https://www.reuters.com/world/brics-summit-what-is-it-who-is-going-2024-08-22/
The New Development Bank: Funding Infrastructure and Development
the NDB’s primary focus is lending for infrastructure projects,with an authorized annual lending capacity of up to $34 billion. South africa serves as the African headquarters for the bank. Founded with a starting capital of $50 billion, the NDB has grown its wealth to $100 billion, initially funded by $10 billion contributions from each of the original BRICS nations – Brazil, Russia, india, china, and South Africa. https://www.ndb.int/about-us/
By 2020, the NDB had 53 projects underway, totaling approximately $15 billion in funding. This figure rose significantly by 2024, with the bank approving over $32 billion for 96 projects.https://www.ndb.int/press-release/ndb-approves-us32-9-billion-financing-96-projects/ In 2021,Bangladesh,Egypt,the United Arab Emirates,and Uruguay joined the NDB,expanding its reach and potential impact. https://www.ndb.int/news/new-members-join-ndb/
BRICS Expansion and the “BRICS+” Framework
The BRICS bloc underwent a significant expansion on January 1, 2024, welcoming Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia as new full members. https://www.aljazeera.com/news/2024/1/1/brics-welcomes-five-new-members-in-major-expansion Further solidifying its growing influence, BRICS established a category of “partner countries” at the October 2024 summit in Kazan, Russia. The initial partner countries include Belarus, Bolivia, Kazakhstan, cuba, Malaysia, Thailand, Uganda, and Uzbekistan.
This expansion is viewed by manny as a strategic move to build a multipolar world order, challenging the dominance of Western-led institutions. The Economist Intelligence Unit projects that the combined economic size of BRICS+ will surpass that of the G7 by 2045. https://www.economist.com/finance-and-economics/2023/11/29/brics-is-expanding-but-its-economic-impact-is-overstated
India’s Role and Future Priorities
India’s upcoming presidency in 2026 is anticipated to be a pivotal year for BRICS. Building on its experience presiding over the G20, India is prioritizing a framework focused on balancing the diverse interests of member and partner states and fostering mutual trust within a multipolar system. The long-term goal is to transform BRICS into a fully-fledged international organization capable of effectively addressing global development challenges.
The bloc recognizes the need to move beyond symbolic gestures and bureaucratic processes, focusing rather on enhancing economic cooperation through improved financial, trade, and economic mechanisms. Areas of collaboration include politics, economic development, education, and scientific research, reflecting the broad scope of BRICS’ ambitions.