India on Thursday formally assumed the rotating presidency of the BRICS grouping for 2026, setting the stage to push inclusive development and strengthen the Global South’s role in global economic governance at a time of rising protectionism and trade disruptions triggered by US President Donald Trump’s tariff actions.
New Delhi’s presidency begins against two key backdrops — a significantly expanded BRICS bloc and an increasingly fragmented global trading system marked by higher tariffs and geopolitical friction.
An Expanded BRICS, But With Membership Questions
Originally comprising Brazil, Russia, India, China and South Africa, BRICS has widened rapidly over the past two years to include Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
However, the expansion has not been without ambiguity. Saudi Arabia’s membership status remains unclear, with the BRICS website listing the kingdom as a member even as several reports suggest Riyadh has yet to formally complete the accession process.
With the new additions, the bloc now represents nearly 49% of the world’s population, about 29% of global GDP and roughly 23% of international trade, according to World Bank-linked estimates cited in recent reports.
Trump Tariffs Cast a Shadow
India’s BRICS presidency comes amid heightened trade tensions with Washington. President Trump recently imposed tariffs of up to 50% on Indian exports, including additional levies tied to India’s continued purchases of Russian oil, putting strain on bilateral trade relations.
The move has added urgency to discussions within BRICS on trade resilience and alternative settlement mechanisms.
India Likely to Avoid Aggressive De-Dollarisation
While Trump has repeatedly warned BRICS nations against launching a common currency — threatening 100% tariffs and declaring the grouping “dead” — experts suggest India will pursue a more cautious path.
Prerna Gandhi, associate fellow at the Vivekananda International Foundation, told Nikkei Asia that India is unlikely to support confrontational de-dollarisation and will instead advocate for expanded use of local currency settlements to safeguard strategic autonomy.
Raj Kumar Sharma, senior research fellow at NatStrat, said India would use its presidency to defend multilateralism and push reforms in global institutions as protectionist pressures rise.
Global South Agenda Returns
India is expected to revive the Global South-focused approach it championed during its G20 presidency in 2023, with emphasis on inclusive growth, human welfare, food and fuel security, debt restructuring and climate finance.
However, analysts caution that these priorities may face competition from the United States’ G20 presidency, where Global South issues may not receive similar prominence.
Expansion Debate and Pakistan Factor
India’s leadership also coincides with ongoing debates over further BRICS expansion. New Delhi may push for clearer membership criteria to prevent dilution of the bloc’s purpose, including transparent benchmarks and consensus-driven decisions.
Adding a geopolitical dimension, Pakistan — grappling with economic challenges — has shown interest in joining the BRICS-backed New Development Bank and has previously applied for BRICS membership.
