China, India can strengthen Greater BRICS — Zhang Xiaoyu — Opinion

China, India can strengthen Greater BRICS

September 15, 2026·2 min read

Published in

Kaieteur News ·Sep 15, 2026

The 18th BRICS Summit successfully concluded in New Delhi on Sunday.^[1] The gathering came as BRICS marks two decades since its members first sat down as a political grouping. It also came at a moment when China-India relations have regained positive momentum. The summit has shown that the two largest developing countries can turn high-level consensus into practical cooperation that serves the Global South.

In 2001, the acronym BRIC was coined by Goldman Sachs economist Jim O’Neill as an economic term for major emerging markets. In 2006, the foreign ministers of Brazil, Russia, India and China met on the sidelines of the UN General Assembly.

The first leaders’ summit took place in Yekaterinburg, Russia in 2009, against the backdrop of the global financial crisis, which exposed structural flaws in Western-dominated global financial governance. South Africa was formally admitted to the grouping in 2010 and officially joined the cooperation mechanism in 2011, turning BRIC into BRICS.

The grouping’s purpose was never to replace the existing international system, but to make it fairer. At the 2014 Fortaleza Summit, members agreed to establish the New Development Bank (NDB), headquartered in Shanghai, and the Contingent Reserve Arrangement.^[2] The NDB has since become a working alternative for infrastructure and sustainable-development lending in local currencies as well as dollars. At the 2023 Johannesburg Summit, Egypt, Ethiopia, Iran, the United Arab Emirates and other countries were invited to join.^[3] Indonesia in 2025 joined as a full member, and a partner-country track was also set up.^[4] Today, “Greater BRICS” represents a large share of the world’s population and a rising share of global output.

China and India have not always agreed on every issue, yet they have continued to work together within BRICS even when bilateral ties were strained. First, they have helped build institutions rather than merely attend meetings. Both are major shareholders of the NDB. Indian and Chinese officials have served in its leadership. The bank’s project pipeline in energy, transport, water and urban infrastructure has given member states options beyond traditional lenders. Local-currency financing, which both countries support in principle, reduces exchange-rate risk for borrowers in the Global South.

Second, they have treated BRICS as a venue for economic and financial coordination, not only communiqués. Work on cross-border payments, linking national systems such as China’s CIPS and India’s UPI, and exploring interoperability of fast-payment rails and central-bank digital currencies, reflects a shared interest in cheaper, faster settlement among developing economies.

Third, BRICS has given the two countries a structured way to talk about global governance, climate, public health, counter-terrorism, and food and energy security. Ministerial tracks, working groups and the BRICS Business Council have kept officials and businesses in contact.

Fourth, political signaling has mattered. China publicly supported India as 2026 chair. India has also indicated support for China taking the chair in 2027. That rotation is how BRICS is supposed to work. Continuity between India’s 2026 priorities and China’s 2027 agenda would send a powerful message, in which the two countries can hand the baton. As the two largest developing nations and two ancient civilizations, China and India have a responsibility that goes beyond their own border. When the two greatest civilizations tango and work together as partners, Asia is more stable and the Global South has a stronger voice.

By Zhang Xiaoyu

References

BRICS Summit concludes with adoption of New Delhi Declaration | SAnews — www.sanews.gov.za ↩
VI BRICS Summit Fortaleza Declaration - "The World and Japan ... — worldjpn.net ↩
BRICS Asks Saudi Arabia, Iran, UAE, Egypt, Argentina, Ethiopia to Join Bloc - Bloomberg — www.bloomberg.com ↩
Indonesia joins BRICS bloc as full member, Brazil says | Reuters — www.reuters.com ↩

BRICS Summit concludes with adoption of New Delhi Declaration | SAnews

www.sanews.gov.za · 2026-09-13

Delhi, India — The 18th BRICS Summit, held under India’s Presidency, has officially concluded, with leaders adopting the New Delhi Declaration, which reaffirms the spirit of mutual respect and understanding, sovereign equality, solidarity, democracy, openness, inclusiveness, collaboration, and consensus. The New Delhi BRICS Leaders’ Declaration sets out the shared priorities, commitments, and direction for BRICS cooperation going forward. President Cyril Ramaphosa participated in the gathering, where leaders of BRICS countries met in New Delhi, India, from 12 to 13 September 2026 for the XVIII BRICS Summit, held under the theme: “Building for Resilience, Innovation, Cooperation and Sustainability.” During a media briefing at the conclusion of the Summit on Sunday, the President congratulated India for hosting a successful gathering and said he looked forward to the next Summit, which will be held in China in 2027. “What really stood out was our commitment, as BRICS, to focus on advancing global governance of the multilateral system. “All of us are saying that we adhere to a multilateral system where there is no dominance of one player or country over others; where we want countries that are in BRICS, and indeed countries outside of BRICS as well, to respect one another and to respect the sovereignty of all our countries in the world,” he said. He stressed that BRICS wants a multilateral system without dominance by any one country. “For instance, all of us did confirm that we want a multipolar world, a world that will live in harmony and that will advance the interests of each one of us,” President Ramaphosa said. The BRICS grouping wants to focus on the advancement of all economies and improving people’s lives. “And that, to me, was the key and central issue because we now live in a world that faces a lot of challenges and conflicts at the geopolitical level," the President said. South Africa used the Summit to advance its diplomatic and economic priorities, particularly by expanding intra-BRICS trade and investment, promoting industrialisation and value addition, and mobilising investment in African infrastructure aligned with the African Continental Free Trade Area (AfCFTA). During its Presidency, India convened over 400 meetings and engagements involving Ministers, Parliamentarians, Heads of Agencies, officials, experts, businesses, and people in 30 cities across India under the BRICS cooperation framework, contributing to the strengthening of the BRICS strategic partnership. “We welcome the progress made in enhancing collective resilience, promoting innovation-driven economic growth, advancing sustainable development, deepening people-to-people exchanges, and amplifying the voice of BRICS for greater representation in global governance,” the New Delhi Declaration said. The leaders reaffirmed their commitment to the BRICS spirit of mutual respect and understanding, sovereign equality, solidarity, democracy, openness, inclusiveness, collaboration, and consensus. “Building on two decades of BRICS, we further commit ourselves to strengthening cooperation in the expanded BRICS under the three pillars of political and security, economic and financial, [and] cultural and people-to-people cooperation, and to enhancing our strategic partnership for the benefit of our people through the promotion of peace, a more representative, fairer international order, a reinvigorated and reformed multilateral system, sustainable development and inclusive growth. “We recognise the valuable contribution of Partner Countries to BRICS cooperation. We underscore our strong belief that advancing the BRICS partnership with Emerging Markets and Developing Countries (EMDCs) will further contribute to strengthening the spirit of solidarity and international cooperation for the benefit of all,” the Declaration said. The leaders also reaffirmed their commitment to fostering inclusive, mutually beneficial and

VI BRICS Summit Fortaleza Declaration - "The World and Japan ...

worldjpn.net · 2014-07-15

[Title] VI BRICS Summit Fortaleza Declaration ... [Place] Fortaleza, Brazil ... [Date] July ... 15, 2014 ... 11. BRICS, as well as other EMDCs, continue to face significant financing constraints to address infrastructure gaps and sustainable development needs. With this in mind, we are pleased to announce the signing of the Agreement establishing the New Development Bank (NDB), with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging and developing economies. We appreciate the work undertaken by our Finance Ministers. Based on sound banking principles, the NDB will strengthen the cooperation among our countries and will supplement the efforts of multilateral and regional financial institutions for global development, thus contributing to our collective commitments for achieving the goal of strong, sustainable and balanced growth. ... 12. The Bank shall have an initial authorized capital of US$ 100 billion. The initial subscribed capital shall be of US$ 50 billion, equally shared among founding members. The first chair of the Board of Governors shall be from Russia. The first chair of the Board of Directors shall be from Brazil. The first President of the Bank shall be from India. The headquarters of the Bank shall be located in Shanghai. The New Development Bank Africa Regional Center shall be established in South Africa concurrently with the headquarters. We direct our Finance Ministers to work out the modalities for its operationalization. ... 13. We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US$ 100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements. We appreciate the work undertaken by our Finance Ministers and Central Bank Governors. The Agreement is a framework for the provision of liquidity through currency swaps in response to actual or potential short-term balance of payments pressures. ... 70. We reiterate our commitment to fostering our partnership for common development. To this end, we adopt the Fortaleza Action Plan.

BRICS Asks Saudi Arabia, Iran, UAE, Egypt, Argentina, Ethiopia to Join Bloc - Bloomberg

www.bloomberg.com · 2023-08-24

BRICS Asks Saudi Arabia, Iran, UAE, Egypt, Argentina, Ethiopia to Join Bloc - Bloomberg ... # BRICS Bloc Grows Heft With Saudi Arabia and Other Mideast Powers * Egypt, Argentina, Ethiopia, UAE also invited to join bloc * Further expansion is planned, South Africa’s Ramaphosa says ... BRICS Invite Saudi, Iran, 4 Others to Join Bloc: Ramaphosa ... BRICS Invite Saudi, Iran, 4 Others to Join Bloc: Ramaphosa ... Major emerging market nations invited top oil exporter [Saudi Arabia](https://www.bloomberg.com/quote/3344642Z:AB), Iran, Egypt, Argentina, Ethiopia and the United Arab Emirates to join their bloc in a push to expand its global influence.

Indonesia joins BRICS bloc as full member, Brazil says | Reuters

www.reuters.com · 2025-01-06

Indonesia joins BRICS bloc as full member, Brazil says | Reuters ... SAO PAULO, Jan 6 (Reuters) - Indonesia will formally join BRICS as a full member, Brazil's government said on Monday, further expanding the group of major emerging economies that also includes Russia, India, China and South Africa. ... Indonesia's foreign ministry said in a statement on Tuesday that it welcomed the announcement and that "BRICS membership is a strategic way to increase collaboration and partnership with other developing nations." ... Brazil, which holds the bloc's presidency in 2025, said in a statement that member states approved Indonesia's entry by consensus as part of an expansion push initially endorsed at the 2023 BRICS summit in Johannesburg. ... The South American nation noted that Jakarta's bid got the green light from the bloc in 2023 but the Southeast Asian country asked to join following the presidential election held last year. President Prabowo Subianto took office in