BRICS economic and technological expansion

The BRICS alliance has evolved into a transcontinental coalition that has surpassed the G7 in total economic productivity, presenting a challenge to the traditional Western-led global order. The group has established institutional viability through mechanisms such as the New Development Bank.

Building on this economic shift, member nations are increasingly focusing on technological sovereignty through integrated cooperation in sectors such as logistics, e-commerce, digital payments, and manufacturing automation. Some members, such as Russia, are leveraging these ties to bolster domestic high-tech industries and reduce reliance on Western supply chains by pairing specific expertise, such as nuclear energy, with the infrastructure needs of other member states.

Ahead of the 18th BRICS Summit in New Delhi, the bloc is intensifying efforts toward de-dollarisation and the establishment of a multipolar economic system. Discussions have centered on the POWER framework and the potential for member states to settle up to 90% of trade in national currencies to reduce transaction costs and bypass Western financial influence. India is advancing the BRICS Economic Partnership Strategy 2030 to promote supply-chain and digital-commerce cooperation.

While the expanded 11-member bloc now represents nearly 30% of global GDP, challenges persist regarding China's economic dominance and the absence of a formal institutional structure to enforce collective decisions. Trade dynamics are also shifting significantly, as evidenced by Russia now accounting for 40% of India's petroleum imports.