The BRICS Business Forum Summit 2026 is underway in the heart of the national capital, Delhi. In his inaugural speech, the Prime Minister of India, Narendra Modi, emphasized BRICS as a platform for meaningful dialogue and global cooperation, highlighting that BRICS economies have outpaced global GDP growth over the past two decades. Called for concrete actions to remove trade barriers, support start-ups, and build resilient supply chains to turn BRICS ambitions into real outcomes. Also stressed India’s focus on secure sea lanes, freedom of navigation, inclusive growth for youth, and sustainable tourism.
Across recent BRICS engagements, PM Modi has urged unity against terrorism, reform multilateral institutions likes th UN and WTO, and greater representation for developing countries. Has also promoted India’s digital public infrastructure, skill mapping initiatives, and cooperation on green development and traditional medicine within BRICS. The measurable agenda of BRICS Business Forum 2026 is to identify and remove the top 10 trade barriers among members, and remove them annually. While the exact list of barriers wasn’t detailed in public remarks, the call signals a focus on reducing tariff and non-tariff obstacles, streamlining customs procedures, and improving cross boarder supply chains to boost intra-BRICS commerce. Global trade depends on open and secure sea lanes and open supply routes, linking maritime safety to trade flow.
According to multiple sources, BRICS brings together eleven major emerging markets Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa, and the UAE. The New Delhi summit also includes the BRICS partner countries bloc created at the 17th summit in Rio. 10 countries were welcomed as partners. Belarus, Bolivia, Kazakhstan, Cuba, Nigeria, Malaysia, Thailand, Vietnam, Uganda and Uzbekistan.
British economist Jim O’Neil coined the original acronym BRICS in 2001, while the intergovernmental group was founded collectively by Brazil, Russia, India, and China in 2009. Prime Minister of India Narendra Modi is holding the current position of chairman of BRICS, with the rotating presidency for 2026.