BRICS Summit 2026: India to Host 11-Nation Bloc in Delhi; Trade, Payments, Oil and US-Iran Conflict in Focus

India is set to host the 18th BRICS Summit in New Delhi on September 12 and 13, 2026, at a time when global trade, energy markets and financial systems are facing increased uncertainty. With India holding the BRICS chair this year, the summit will give New Delhi an important platform to discuss economic cooperation, trade, payments and global geopolitical challenges.

BRICS Summit 2026: India Set to Host 11-Nation Bloc in Delhi

The summit will take place at Bharat Mandapam under India's 2026 chairship theme, "Building for Resilience, Innovation, Cooperation and Sustainability". The program is also linked to a people-focused approach under the broader message of "Humanity First".

The BRICS grouping currently includes Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates. The expanded membership gives India a forum to engage with major emerging economies as well as some of the world's key energy-producing nations.

BRICS History: From BRIC to 11-Nation Bloc; India Leads Group for Fourth Time in 2026

India is a founding member of BRICS and has previously chaired the grouping in 2012, 2016 and 2021. Its latest chairship began on January 1, 2026. This year also marks two decades since the BRIC grouping was formalised through a meeting of foreign ministers in 2006.

The bloc has grown significantly since then. A BRICS overview by Brazil's central bank estimated that the expanded group accounts for around 49% of the world's population, 39% of global GDP and 23% of international trade.

BRICS Summit: Trade and Payment Systems in Focus

Economic cooperation is expected to remain an important part of India's BRICS agenda. During the 2026 chairship, India has organised more than 350 meetings and high-level engagements across over 25 cities, covering economic, financial, political and people-to-people issues.

India has been pushing for stronger trade links within the bloc, more resilient supply chains and improved access to finance for small businesses. At the BRICS Trade Ministers' meeting in Jaipur, members backed principles aimed at improving MSME participation in international markets and addressing gaps in trade finance.

Cross-border payments are another major area of interest. While discussions around BRICS are sometimes linked to the idea of a common currency, the more immediate focus is on enabling smoother transactions using local currencies and strengthening digital payment connectivity.

Reserve Bank of India Governor Sanjay Malhotra said in August that BRICS members were discussing possible links between fast-payment systems and central bank digital currencies. Greater use of local currencies could eventually reduce transaction costs for businesses, although any major shift away from established international payment systems is likely to take time.

The conflict also has direct economic implications for India. West Asia is important for India's crude oil supplies, trade routes, remittances and shipping activity. Any prolonged disruption around the Strait of Hormuz could increase freight and energy costs while putting pressure on India's import bill.

Higher crude prices could also have wider effects on India's economy by influencing inflation, the rupee and the current account deficit. Analysts cited by Reuters on August 31 expected oil prices to remain above $80 per barrel in 2026 because of supply disruptions linked to the conflict.

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