India hosts 18th BRICS summit in New Delhi

India is hosting the 18th BRICS summit on September 12–13, 2026, at Bharat Mandapam in New Delhi. Marking the grouping’s 20th anniversary, the summit operates under the theme ‘Building for Resilience, Innovation, Cooperation and Sustainability’. The expanded bloc now represents approximately 40 per cent of global GDP on a purchasing power parity basis and nearly 49 per cent of the world's population.

A central focus of the summit is the integration of financial systems to reduce transaction costs. While discussions continue regarding the use of national currencies for trade and the potential for ‘BRICS Pay’ or central bank digital currencies (CBDCs), Indian officials have clarified that the primary objective is to enhance interoperability between existing national systems rather than creating a unified BRICS currency or pursuing explicit de-dollarization.

The summit occurs amid significant geopolitical tensions. While some experts view India as a potential bridge between BRICS and Western nations, concerns persist regarding the risk of replacing Western hegemony with new regional dominance. Furthermore, US political figures, including Donald Trump, have signaled opposition to de-dollarization efforts, suggesting the potential for significant tariffs on countries that adopt alternative commercial systems.

Ahead of the meeting, expectations have grown for high-level engagements between leaders including Indian Prime Minister Narendra Modi, Russian President Vladimir Putin, and Chinese President Xi Jinping. Iran has also signaled interest in the proceedings, characterizing its ties with India as ‘very good’ and seeking further discussions regarding the Chabahar Port during the summit.