BRICS Leaders Meet in Delhi as Global Tensions Rise, Unity Faces Test

New Delhi, September 12, 2026 BRICS leaders will gather in New Delhi on Saturday for their annual summit at a time when geopolitical tensions are affecting energy markets, shipping routes and global trade. The meeting comes as the grouping has grown considerably in size and influence, but its expanding membership has also brought sharper differences over foreign policy and the bloc’s broader direction. The grouping traces its origins to the term “BRIC”, coined by Goldman Sachs Chief Economist Jim O'Neill in a 2001 research paper referring to the economic potential of Brazil, Russia, India and China. The four countries formally came together as a bloc in 2009, with South Africa joining in 2011. BRICS expanded further in 2024 with the entry of Egypt, Ethiopia, Iran and the UAE, followed by Indonesia in 2025. Saudi Arabia has also been invited to join but has not formally accepted the invitation. BRICS was established as a platform to challenge a global order largely dominated by the United States and its Western allies. Its members now account for more than 40 per cent of the world's population and nearly a quarter of the global economy. The group works across political and security issues, economic and financial cooperation, and people-to-people exchanges. Among its key achievements is the New Development Bank, created in 2015 to fund infrastructure and sustainable-development projects in emerging economies. The bank has approved 139 projects worth almost $43 billion, although it suspended new transactions in Russia following sanctions. The bloc is also pursuing alternatives to dollar-based financial systems through initiatives such as BRICS Pay, which aims to facilitate cross-border settlements by connecting members' fast-payment networks. Members are also examining links between central bank digital currencies and making greater use of national currencies in trade. However, differences within the group remain a major challenge. Russia and China largely see BRICS as a counterweight to the West, while India and Brazil place greater emphasis on economic cooperation and reform. The larger membership has made consensus harder, with differing foreign-policy positions already preventing a joint statement at the BRICS foreign ministers' meeting in New Delhi in May. India now faces a similar challenge at the summit as it seeks to bridge differences between Iran and the UAE amid the U.S.-Iran conflict. Western countries have watched BRICS cautiously, viewing it as a grouping capable of gradually influencing the global balance of power. U.S. President Donald Trump has repeatedly clashed with the bloc and termed it "anti-American". He has also threatened tariffs against members if they attempt to create a new BRICS currency or support another currency to replace the U.S. dollar. Brazil had floated the idea of a common BRICS currency during its chairmanship last year, but the proposal was later abandoned. With its expanding membership and competing strategic interests, the Delhi summit will ultimately test whether BRICS can turn its growing influence into greater unity and coordinated action.