Prime Minister Narendra Modi at the 15th BRICS Summit, in Johannesburg

India’s upcoming BRICS Summit represents a significant transformation in its global role, shifting from demanding reforms to actively shaping the international order with indigenous and scalable solutions. 

This evolution reflects a journey that began in 2012 when India held the Chairship during the Eurozone debt crisis.

At that time, New Delhi rallied for a more representative financial architecture, leading to the creation of institutions such as the New Development Bank and the Contingent Reserve Agreement.

The NDB’s issuance of its first green bond in renminbi marked a milestone in diversifying financial instruments within the bloc.

In 2016, India’s presidency coincided with Brexit uncertainties, further strengthening its calls for equity in global financial systems.

By 2021, the world faced an entirely different crisis as the COVID-19 pandemic disrupted trade and public health. India rejected vaccine weaponisation and instead pursued vaccine diplomacy, sharing open-source digital health repositories with developing nations.

This approach positioned India not just as a participant in global cooperation but as a provider of solutions during a time of unprecedented disruption.

Now, in 2026, India once again leads BRICS under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” This theme reflects India’s effort to combine domestic experiences with international partnerships, amplifying the voice of emerging economies and the Global South. 

Sameep Shastri, Chairman of the BRICS Chamber of Commerce and Industry, explained that India’s trajectory within BRICS mirrors its domestic economic evolution. He noted that while the early years focused on securing a greater voice for emerging economies, the bloc has since moved towards creating mechanisms of its own.

Today, India brings considerable experience in digital payments, financial inclusion, renewable energy, supply chain resilience, and Start-Ups, offering tested models to share with other nations.

Shastri highlighted India’s pioneering work in Digital Public Infrastructure, particularly the Unified Payments Interface. UPI has demonstrated how technology can integrate millions into the formal digital economy.

India’s broader experience spans MSMEs, renewable energy, and affordable healthcare, developed in response to challenges faced by its vast and diverse population. He cautioned against a one-size-fits-all approach, stressing that the real opportunity lies in sharing technology and know-how so each country can adapt solutions to its own requirements.

India’s digital rollout, built on open and interoperable systems, provides a blueprint for other nations, avoiding dependence on proprietary platforms.

Shastri emphasised that BRICS offers a valuable platform for such exchanges, enabling governments, financial institutions, technology companies, and Start-Ups to learn from one another and explore partnerships.

He argued that making digital technology more accessible, secure, and affordable could become a powerful tool for inclusive growth across the Global South. On financial matters, he acknowledged the growing use of local currencies in trade among BRICS members as an important development.

He suggested that BRICS could enhance payment connectivity and interoperability between systems to ease trade settlements. However, he stressed that market viability must guide policy, with issues such as convertibility, transaction costs, regulatory clarity, and financial stability requiring careful consideration. 

Currency diversification, he argued, should evolve gradually as trade expands, aiming to provide greater choice and resilience rather than replacing existing systems.

India’s BRICS engagement has thus shifted from seeking a greater voice in institutions shaped by the developed world to demonstrating that emerging economies can innovate and offer workable alternatives.

From the New Development Bank to Digital Public Infrastructure, from vaccine diplomacy to resilient supply chains, India’s role within BRICS increasingly reflects a nation arriving at the global table with solutions of its own.

ANI