Synopsis

BRICS, with its expanded membership, aims to strengthen multilateralism and global dialogue. The group seeks to convert economic complementarity into resilient and dependable value chains. Sustainability is presented as a crucial development imperative for member nations. BRICS can offer pragmatic, development-centered approaches to global challenges. The grouping can reinforce its role as a bridge between diverse nations and institutions.

IANS

BRICS, its 18th summit scheduled for this weekend in New Delhi, has one of the more unusual origin stories in international cooperation. In 2001, BRIC was an investment acronym for four emerging economies that formalised the forum in 2006. 20 yrs later, it has 11 members and 10 partner countries, its members representing nearly half of humanity, and accounting for about 40% of global GDP.



Yet, scale alone doesn't establish relevance. BRICS has no founding treaty, common ideology or uniform political system. Its members have different histories, development paths and world views. Some manage complex bilateral relationships, while others navigate significant regional tensions.



Also read: Delhi Police issues security advisory ahead of BRICS Summit 2026; citizens told to stay alert

Consensus within such a diverse grouping is not always easy. That it continues to be found is an achievement in itself. Its most visible institutional achievement is New Development Bank (NDB), created to finance infrastructure and sustainable development. The contingent reserve arrangement provides a financial safety net. Cooperation now spans health, agriculture, technology, climate and space.



India's chairship, guided by the theme, 'Building for Resilience, Innovation, Cooperation and Sustainability', can shape the next chapter. Four priorities can give its 'humanity first' approach practical expression:



Strengthen space for dialogue In an increasingly fractured geopolitical landscape, BRICS should reinforce multilateralism, not seek to replace it. Its strength lies in keeping countries engaged, even when they hold different perspectives on other issues. Dialogue may not resolve every difference. But it can prevent miscalculation, preserve trust and reveal where cooperation possible.



With the US' withdrawal from the Paris Agreement and WHO, BRICS can assume greater responsibility in public health, climate action, food security and development. Keeping channels open is itself an important contribution to international cooperation.



Convert complementarity into resilience Recent disruptions have exposed supply chain fragility. BRICS brings together energy, food and mineral resources, manufacturing and technological capabilities, and vast consumer markets. Connecting these complementary strengths can create more dependable value chains, while remaining open to global trade.



Real-time information could redirect shipments before production lines stop. Electronic bills of lading (eBL) and paperless customs could speed their movement. Trade credit, insurance and secure cross-border payments could cushion the financial shock. A BRICS supply-chain resilience framework could begin with a few voluntary corridors and expand as confidence grows. Similar arrangements could safeguard access to food, medicines, energy and critical minerals.



Sustainability as development imperative In parts of the world, momentum around ESG has moderated. Appropriate pathways to sustainability are being more actively debated. But underlying challenges have not receded. Climate risks, food insecurity, water stress, energy access and biodiversity loss remain especially acute across developing countries.



BRICS can offer a pragmatic, development-centred approach. Climate action must account for national circumstances, affordability and different transition pathways. Cooperation can raise farm productivity, lower cost of cleaner technologies and reduce dependencies in critical supply chains. Compatible standards and risk-sharing instruments can direct capital towards environmentally-credible and commercially-viable projects.



Also read: India set to pitch tech synergy for cementing BRICS



Strengthen multilateralism Institutional architecture of global cooperation should increasingly reflect the geographic and economic diversity of today's world. New knowledge hubs and specialised centres across Asia, Africa and Latin America could advance this. Nairobi, home to UNEP and UN-Habitat, shows that global institutions can flourish closer to the communities they serve.



Representation must evolve, too. BRICS should continue to support comprehensive UNSC reform, recognising legitimate aspirations of countries such as India for a greater role in global governance. India's G20 presidency brought developing-country concerns to the centre of global deliberations. Its BRICS chairship can now strengthen the grouping's role as a solutions-oriented bridge between nations and institutions.



In an age of fragmentation, BRICS can demonstrate the powerful idea that nations need not think alike to work together.



The writer is president, FICCI, and member, BRICS Business Council, India

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)

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