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India Hosts 18th BRICS Summit in New Delhi as Group Marks 20 Years
The 18th BRICS Summit comprises proceedings in New Delhi on September 12-13, 2026. BRICS provides for marking 20 years since its formalisation in 2006, with India as the host authority for the 2026 summit.
Key Facts of BRICS:
| Dimension | Key Details |
|---|---|
| Formalisation | BRICS comprises a grouping formalised in 2006. |
| Membership | BRICS comprises 11 members, with South Africa joining in 2010; Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE added in 2024; and Indonesia as the 11th member since January 2025. |
| First summit | BRICS comprises a first summit held in Yekaterinburg, Russia, in 2009. |
| Decision-making | BRICS is governed by consensus. |
| Foreign Ministers’ meeting | The BRICS Foreign Ministers’ meeting in New Delhi in May 2026 comprises failure to agree on a joint declaration, with India providing for a chair’s statement noting “differing views” on West Asia. |
| New Development Bank | The NDB comprises an institution proposed by India at the 2012 New Delhi summit, and by mid-2026 it comprises approvals of about $44 billion across 141 projects. |
| GDP (PPP) share comparison | BRICS comprises about 36.8% of global GDP (PPP) in 2024 as an expanded 11-member grouping, while the G7 comprises a share below 29%; in 2000, Brazil, Russia, India, and China together comprise roughly 23% while the G7 comprises nearly 52%. |
| Population comparison | BRICS comprises ~3.7 billion people (49.5% of the world), while the G7 comprises ~771 million (10%). |
| Nominal GDP comparison | BRICS comprises ~$28.5 trillion nominal GDP, while the G7 comprises ~$46.6 trillion. |
| Land area comparison | BRICS comprises ~39.7 million sq km of land area, while the G7 comprises ~21.7 million sq km. |
| Energy and resources | BRICS comprises ~43.6% of global oil output, ~36% of global natural gas production, ~72% of global rare-earth reserves, and 78.2% of global mineral coal production. |
| Agriculture output shares | BRICS comprises production shares of 42% of world wheat, 52% of rice, and 46% of soybeans. |
| Trade metrics | BRICS comprises roughly a quarter of global trade, and intra-BRICS merchandise trade comprises $1.17 trillion in 2024, up from $84 billion two decades ago. |
| Foreign reserves | The BRICS bloc comprises $5.2 trillion in foreign reserves. |
| Per capita GDP comparison | The G7 comprises an average per capita GDP of around $53,000, while BRICS comprises an average of roughly $8,200. |
| Local-currency settlement examples | Russia and China comprise settlement of over 90% of trade in ruble and yuan; Russia and India comprise about 90% of direct payments moved to national currencies through Special Rupee Vostro Accounts authorised by the RBI; India and the UAE comprise a rupee-dirham system since July 2023; and India and Indonesia comprise an operationalised rupee-rupiah framework in July 2026 with local-currency trade comprising a rise of 163% to $8.45 billion in the first 2 months of 2026. |
| BRICS Pay | The BRICS Pay system provides for unveiling at the New Delhi summit and comprises links among Russia’s SPFS, China’s CIPS, India’s UPI, and Brazil’s Pix. |
| Global reserves share (Q1 2026) | The dollar comprises 57.13% of global central bank reserves in Q1 2026. |
| Tariff warning | The article comprises a warning of 100% tariffs on BRICS nations if they create a new currency. |
| Pakistan membership bid | Pakistan comprises an application for BRICS membership submitted in November 2023. |