BRICS Summit in New Delhi to Enhance Global South Cooperation

Since its formal launch in 2006, BRICS has expanded significantly, reflecting the aspirations of the Global South. As leaders prepare for the summit in New Delhi, BRICS is increasingly amplifying the collective voice of emerging economies amidst global economic challenges.

BRICS countries now account for approximately 40% of global GDP at purchasing power parity and nearly half of the world's population. Intra-BRICS merchandise trade has grown over 13-fold since 2003, with exports reaching 1.17 trillion U.S. 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 Q1 2026, focusing on infrastructure, clean energy, and digital transformation. The theme of the upcoming summit is “Building for Resilience, Innovation, Cooperation and Sustainability.” BRICS cooperation is also expanding into renewable energy and technological innovation, exemplified by the establishment of the BRICS Partnership on New Industrial Revolution Innovation Center in Xiamen in 2020.