MULTILATERAL GROUPING · BRICS
BRICS
Brazil · Russia · India · China · South Africa (+ expansion)
BRICS is a grouping of major emerging economies that coordinates on trade, finance, and Global South governance reform. After the 2024 Johannesburg expansion, it now includes ten members. India participates actively as the world's most populous country but maintains strategic independence on issues where BRICS positions diverge from Indian interests - notably on the Russia-Ukraine war, financial dedollarisation, and China border tensions.
MEMBER STATES
The 10 members and what each brings
Brazil
Latin America
BRINGS TO THE TABLE
- Agricultural exports, biofuel technology, G20 coordination
Russia
Energy & arms
BRINGS TO THE TABLE
- Energy resources, weapons systems, UN Security Council seat
India
Swing state
BRINGS TO THE TABLE
- Largest democracy, strategic autonomy, Global South voice
China
Largest economy
BRINGS TO THE TABLE
- Manufacturing, finance, infrastructure investment
South Africa
Africa gateway
BRINGS TO THE TABLE
- African Union coordination, mining, financial sector
UAE
Plus 2024
BRINGS TO THE TABLE
- Gulf finance, energy, regional convening power
PRIORITY AREAS
Six themes, project-by-project execution
New Development Bank
The NDB, headquartered in Shanghai, has approved $33bn in loans as of 2025. India is the largest borrower, with funding for urban infrastructure, clean energy, and disaster risk reduction.
Flagship: $33bn approved
Trade in local currencies
BRICS members are expanding bilateral trade settlement in local currencies - rupee-ruble and rupee-yuan mechanisms are operational. India's position: currency diversification yes, dollar replacement no.
Global South governance reform
BRICS coordinates positions on IMF reform, WTO dispute resolution, and UN Security Council expansion. India pushes for permanent UNSC seat; China's position is more ambivalent.
Technology and digital
A BRICS Technology Transfer Centre framework is under discussion. India promotes its Digital Public Infrastructure (UPI, Aadhaar) model as a Global South template through BRICS channels.
Health and pharma
Coordinated vaccine and medicine access was a key COVID-era focus. India's pharma exports to BRICS members - particularly Russia, Brazil, and South Africa - total $4.5bn annually.
INDIA'S ROLE
What India brings, what India gets
India is BRICS's most strategically independent member. It benefits from NDB financing and the Global South coordination platform, but consistently differentiates its positions from China and Russia on geopolitical questions. India did not sign the Johannesburg Declaration language on the Russia-Ukraine war, and continues bilateral talks with China outside the BRICS framework. India's value to BRICS is its credibility as the world's largest democracy and its convening power with the Global South - particularly African and Southeast Asian nations.
INDIA CONTRIBUTES
- ·Largest democracy - legitimacy for the grouping
- ·Strategic autonomy - buffer between China and the West
- ·Digital Public Infrastructure leadership
- ·Pharmaceutical manufacturing for Global South
INDIA RECEIVES
- ·NDB financing for infrastructure projects
- ·Currency diversification mechanisms
- ·G20 and UN coordination with emerging economies
- ·A platform to advocate UNSC expansion
OUTCOMES TO DATE
What BRICS has actually produced
UPDATED 12 MAY 2026
FLAGSHIP 01
$33bn
Approved since 2015 · India largest borrower
New Development Bank has funded 96 projects across member countries. India has drawn the most - urban infrastructure, clean energy, and disaster risk reduction are priority sectors.
FLAGSHIP 02
32%
Post-2024 expansion · PPP basis
BRICS-10 represents 32% of global GDP on PPP basis, surpassing the G7's share for the first time in 2023.