BRICS Expands Influence Ahead of New Delhi Summit

BRICS, a coalition of emerging economies, is enhancing its global influence and fostering South-South cooperation, with member states accounting for approximately 40% of global Gross Domestic Product (GDP) based on purchasing power parity and nearly half of the world's population. Ahead of the BRICS summit in New Delhi, the bloc aims to strengthen collaboration in various sectors, including infrastructure, finance, technology, renewable energy, and sustainable development.

Intra-BRICS merchandise trade has surged over 13-fold since 2003, with exports projected to reach 1.17 trillion US dollars in 2024. The New Development Bank (NDB), based in Shanghai, has approved 42.9 billion dollars in financing for 140 projects by the end of the first quarter of 2026, focusing on infrastructure, clean energy, and digital transformation.

The summit's theme, “Building for Resilience, Innovation, Cooperation and Sustainability,” reflects the group's commitment to scientific and technological innovation, as exemplified by the BRICS Partnership on New Industrial Revolution Innovation Center established in Xiamen in 2020.