BRICS playing bigger role in new world economic order

New Delhi, Sep 8 (AHN) India's 2026 BRICS Presidency offers strategic opportunities to expand exports, attract investments, strengthen manufacturing and technology partnerships, diversify supply chains, and enhance BRICS influence in the global economy, according to an article.

The global economic landscape is undergoing a significant transformation, with emerging economies playing an increasingly influential role in shaping trade, investment, development finance, and international economic governance. At the centre of this transformation is BRICS, which has evolved from a grouping of five major emerging economies into a much broader platform representing the aspirations and economic interests of the Global South, the article on the European Times news website observed.

It highlights that India’s BRICS Presidency in 2026, under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” comes at a pivotal moment. With an expanded membership comprising Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates, along with 10 partner countries, BRICS@21 now has a significantly broader geographic and economic footprint.

For India, this expansion presents a major opportunity to strengthen exports, attract investment, diversify supply chains, promote technology partnerships and contribute to a more inclusive and multipolar global economic order.

The partner countries, including Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam, further broadened their outreach.

BRICS brings together manufacturing powerhouses, major energy exporters, agricultural producers, large consumer markets, technology hubs, and rapidly developing economies. This diversity creates considerable economic complementarities. Manufacturing economies require energy and raw materials, while commodity-producing countries seek technology, investment and industrial diversification. At the same time, large and growing consumer markets create opportunities for trade in manufactured goods, pharmaceuticals, food products, services and technology. This diversity is becoming a strategic strength as companies and countries work to build more resilient supply chains amid geopolitical tensions, trade disruptions and growing economic uncertainty, the article stated.

BRICS has increasingly emerged as an important platform for South-South cooperation and as a growing influence in the global economy. Its approach emphasises sovereign equality, inclusiveness, mutual respect and consensus-based engagement. Rather than being limited to trade, cooperation increasingly spans finance, technology, infrastructure, health, agriculture, energy, climate action and digital transformation.

The article also underscores that the BRICS Foreign Ministers’ Meeting, held in New Delhi on May 14–15 under India’s Chairmanship, reinforced this broader agenda, the article further stated. The meeting emphasised stronger strategic cooperation across political, economic, financial, cultural and people-to-people dimensions and called for a more democratic, representative and accountable international system. BRICS is moving beyond being simply an economic grouping to becoming a platform through which emerging economies seek a stronger voice in global decision-making, it contended.