Leaders from 11 Brics nations meet in Delhi this weekend for talks expected to span economics, development finance and wider geopolitical questions. The summit’s agenda, however, will be heavily shaped by the policies of US President Donald Trump, despite the United States not being a member of the bloc.
India, the host, is joined by China, Russia, Brazil, South Africa and other participants, including the United Arab Emirates and Iran. Saudi Arabia is attending as an invited member. The grouping’s expanded membership increases the range of views around the table, but also makes agreement on a common line more difficult.
Trump Policies Set The Tone
Central to the summit’s backdrop is the impact of US policy on global markets. The war in Iran and concerns over the reach of White House tariff plans have unsettled energy markets and left economies uncertain about the future.
Analysts say Brics is unlikely to issue a statement that directly confronts Washington or sets out a coordinated strategy aimed at countering Trump’s approach to geopolitics and trade. Instead, any references to the United States are expected to be cautious.
Michael Kugelman, a senior fellow at the Atlantic Council, said India would struggle to back a joint statement that openly targets Washington. He expected criticism, if it appeared at all, to be general rather than explicit, reflecting sharply differing interests within Brics.
Divisions Over Challenging Washington
The bloc is split over how far it should go in challenging the US. Russia and Iran may favour a firmer stance, but internal realities are likely to limit what Brics can agree.
India, which is reported to be in the final stages of a trade deal with the US, is said to be reluctant to risk upsetting the White House. China, too, may avoid wording that could be seen as turning Brics into a vehicle for a direct campaign against Washington.
The UAE faces a further constraint. It has been targeted during Tehran’s retaliatory actions linked to strikes involving the US and Israel, and it hosts US military bases. Those factors are expected to weigh against a statement that might be read as supporting Iran’s position.
Brics has also become more prominent as it expanded, with Kugelman noting that larger membership has made consensus harder because countries now include more states that do not share the same views on the global order.
De-Dollarisation And Tariff Threats
Trump has been outspoken about Brics and has warned against moves seen as reducing reliance on the US dollar, sometimes described as de-dollarisation. In November 2024, Trump said Brics countries would face “100% tariffs” if they supported another currency to replace the dollar’s role in global trade.
Against that backdrop, leaders are expected to focus on what they can deliver without provoking open confrontation. Brics’ economic and demographic weight has grown over the past decade, and it now accounts for 49% of the world’s population, 40% of global GDP and 26% of international trade, according to BBC Monitoring analysis.
One of the bloc’s most tangible achievements remains the New Development Bank, which has approved billions of dollars for infrastructure and development projects, including in countries in the global south. Brics has also created a $100bn contingency reserve arrangement to help members facing financial crises, though it has not yet been tested.
Leaders are also expected to discuss steps to make cross-border payments in local currencies easier, an area of particular interest to Moscow and Tehran, both of which face US sanctions.
Developing-Nation Agenda And Summit Test
Brics is likely to continue presenting itself as a platform for developing countries, with collective calls for reform to institutions such as the United Nations, the International Monetary Fund and the World Bank.
For India, the summit is seen as an opportunity to strengthen its claim to leadership among global-south countries. Delhi’s priorities—multilateralism, a more multipolar world, more representation for developing nations and freer global trade—overlap with Brics’ stated direction. But India’s challenge is also how to navigate China’s influence within the grouping and its stronger presence across much of Africa and Latin America, Kugelman said.
The host’s diplomatic success will often be judged by whether Brics can reach a consensus statement. Differences over the Iran war have already hampered cooperation, and in May Brics foreign ministers failed to agree on a joint statement, prompting India to issue a chair’s summary instead.
Delhi is also expected to seek substantive outcomes beyond messaging, including highlighting progress already made by Brics. Leaders are likely to explore ways to deepen financial cooperation and may issue announcements on that front, alongside careful language on major geopolitical developments, including the US.
Bilateral Meetings In Delhi
The summit will also be the setting for key bilateral meetings. Chinese President Xi Jinping is due to meet Indian Prime Minister Narendra Modi on Saturday, with both sides seeking to rebuild ties after slower-than-expected progress.
Modi is also scheduled to meet Russian President Vladimir Putin, with the war in Ukraine likely to feature prominently. Modi recently made a public appeal for peace when he met Putin on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, and Russia said it welcomed the message.
India’s trade deficits with Russia and China are also expected to come up in the bilateral talks.
For Brics, leaders are aiming for a successful summit that further strengthens the bloc’s influence. For India, organisers and analysts say the event is also a chance to reassert its international role at a time when Delhi is seeking greater sway abroad.
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12 September 2026
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