Full Breakdown
BRICS Summit in New Delhi Focuses on Trade, AI and Middle-East Peace
By Drooid · · How we work
Core Event
Leaders of the 11-member BRICS grouping gathered in New Delhi for the 18th BRICS Leaders’ Summit on September 12-13, 2026. The summit was hosted by Indian Prime Minister Narendra Modi and featured Chinese President Xi Jinping—his first official visit to India in seven years—alongside Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, and heads of Brazil, South Africa, Egypt, Ethiopia, Saudi Arabia, the United Arab Emirates and Indonesia. Delegates adopted the “New Delhi Declaration,” reaffirming commitments to trade liberalisation, energy security, artificial-intelligence cooperation and a “due role” in easing the Middle-East conflict.
Background & Context
BRICS was founded in 2006 by Brazil, Russia, India and China; South Africa joined in 2010 and the bloc expanded in 2024 to include Egypt, Ethiopia, Iran, Saudi Arabia and the UAE, with Indonesia becoming a full member in 2025. India holds the rotating chair for 2026, positioning the summit amid wars in Ukraine and the Middle East and rising U.S.–China tensions.
Data & Statistics
- Intra-BRICS merchandise trade reached $1.17 trillion in 2024, a 13-fold increase since 2003 (UNCTAD).
- BRICS economies account for about 40 % of global GDP, 26 % of world trade, and roughly half of the world’s population.
- The New Development Bank (NDB) has approved 139 projects worth approximately $43 billion.
- The bloc’s Contingent Reserve Arrangement and the proposed “BRICS Pay” system aim to reduce reliance on the U.S. dollar for cross-border payments.
Official Statements & Responses
- Modi framed the declaration as a call to reform outdated institutions and to translate the bloc’s “common will” into tangible results.
- Mao Ning, spokesperson for China’s foreign ministry, said China stands ready to work with India to strengthen communication, enhance cooperation and manage differences.
- Pezeshkian advocated expanding the use of national currencies in intra-BRICS trade and highlighted AI as a strategic priority.
- Piyush Goyal, India’s commerce and industry minister, called for linking payment systems and expanding trade in local currencies, citing the Unified Payments Interface as a model.
Verbatim Quotes
- “As the host, New Delhi has a delicate balancing act,” — Al Jazeera’s Um-e-Kulsoom Shariff
- “BRICS must create an environment in which no country can disrupt the legitimate trade of another country through monopolizing a financial instrument or technology,” — Masoud Pezeshkian
Criticism & Opposition
Some analysts view the bloc’s rapid expansion as a constraint on consensus. Harsh V. Pant, of India’s Observer Research Foundation, warned that the Gulf conflict could dominate summit discussions.
Conflicting Reports & Gaps
- In May 2026, BRICS foreign ministers could not agree on a joint statement on the Middle-East conflict, leading India to issue a chair’s summary.
- The New Delhi Declaration calls for “immediate restoration” of the WTO dispute-settlement mechanism, but no timeline is provided.
What’s Next
- On September 13, 2026, South African President Cyril Ramaphosa will deliver a statement outlining the bloc’s vision for inclusive global governance.
- Implementation of the declaration’s trade-finance initiatives, including expansion of the NDB’s credit lines and rollout of “BRICS Pay,” is slated for the coming months.
- Ongoing bilateral talks—most notably a meeting between Modi and Xi—are expected to shape India-China relations and influence the bloc’s strategic direction.