BRICS Summit: Economic Opportunity or Geopolitical Counterweight?

In recent times, every country has been searching for stability and economic opportunities through diplomatic relationships with sovereign states. Peace and economic progress remain the ultimate goals of contemporary diplomacy. Against this backdrop, Indian diplomacy is facing a thin line and an extreme test: how can New Delhi cash in on this opportunity and translate its economic interests into a relevant expression of strategic influence? The BRICS summit provides India with considerable space to exert itself on the global stage and compel the world to listen. But the real question is whether the world’s largest democracy can add substance to the geopolitical disorder and reshape it through a joint statement representing more than half of the world’s population.

What is the Case for Russia and China?
Both Russia and China appear less interested in impulsive discriminatory decisions and more attracted to the economic value of the emerging global order. China and Russia see BRICS as a mechanism to reduce Western dominance, particularly that of the United States, while strengthening cooperation among emerging and developing economies. If this trajectory continues, American strategic space may not disappear altogether, but it could certainly shrink day by day.

The summit brings together prominent leaders including Narendra Modi, Vladimir Putin and Xi Jinping at a time when wars in Ukraine and the Middle East, alongside rising US-China tensions, are testing the limits of international diplomacy.

BRICS was initially founded by Brazil, Russia, India and China in 2006, with South Africa joining in 2010. The bloc has since expanded to 11 members, representing roughly half of the world’s population and a significant share of global economic output. Its growing demand for greater representation for developing countries in global institutions reflects a wider challenge to the existing international order.

The leaders are expected to discuss trade, investment, energy, food security, technology, supply chains and reforms to global institutions. But one question remains particularly important: Is a new BRICS trade currency going to be announced?

Reducing reliance on the US dollar is likely to remain a priority, with members promoting greater use of national currencies in trade and payments and exploring alternatives to Western-dominated financial institutions.

Russia and China Seek to Expand Influence

China and Russia see BRICS as a way to challenge Western dominance while creating a broader economic and diplomatic platform for emerging powers. Putin, speaking at the BRICS Business Forum in New Delhi, stressed that the grouping was not directed against anyone and that Moscow remained open to cooperation with countries around the world.

“We are in favor of our interests.”

The statement carries a certain narcissistic undertone, but it also reflects a wider contemporary diplomatic philosophy: country first, interests first—an approach strongly associated with Washington’s “America First” doctrine.

What Will Iran Say?
Iran has also pushed for mechanisms that could reduce BRICS’ reliance on Western financial systems and provide greater protection against economic pressure. Tehran, facing sweeping sanctions and intense confrontation with the United States, has strongly supported greater use of national currencies.

Iranian President Masoud Pezeshkian backed the expansion of trade in national currencies among BRICS members, arguing that when one country suffers economic and political shocks, the consequences can spread across the wider international system.

This is precisely where BRICS becomes more than an economic forum. For Iran, it is also an opportunity to challenge the financial mechanisms through which Western powers exercise geopolitical pressure.

India’s Strategic Balancing Act
For India, however, the summit is an exercise in strategic balancing. New Delhi wants to maintain its longstanding relationship with Russia and Iran while simultaneously deepening economic, defence and technological ties with the United States and Europe.

The invitation to Russia, the diplomatic engagement led by External Affairs Minister S. Jaishankar, and National Security Adviser Ajit Doval’s engagement with China demonstrate that India is attempting to keep every strategic door open.

The arrival of Xi Jinping in New Delhi and the expected meeting between Xi and Modi could provide an opportunity to reduce tensions that escalated after the 2020 border crisis. The 26 rounds of military and diplomatic talks, alongside Doval’s engagement with Beijing, reflect how seriously India views the need to stabilize its relationship with China.

But what comes after the summit? What will India actually gain?

A key test will be whether New Delhi can secure a meaningful joint statement. The divisions within BRICS were already visible when foreign ministers failed to agree on a joint statement over the Iran war in May, forcing India to issue a chair’s summary instead.

What Should Pakistan Watch?
For Pakistan, the strategic implications deserve serious attention.

The Mecca Pact represented a defensive approach to emerging regional security challenges, while the Houthi attacks demonstrated how quickly regional instability can test new security arrangements. India now appears to be countering strategically in the economic and diplomatic arena.

After all, modern battlefields are not defined by missiles and military formations alone. Every strategic battlefield requires an economic engine to sustain it.

The BRICS summit therefore represents more than an economic gathering. It is a test of India’s diplomatic balancing, China and Russia’s challenge to Western dominance, Iran’s search for financial alternatives, and the emerging architecture of a fragmented world order.

For Pakistan, the real question is not simply who attends BRICS, but who will shape what comes after BRICS. In this emerging contest, Islamabad cannot afford to remain a spectator. Its strategic partnerships, economic diplomacy and regional security framework must evolve with the changing architecture—or Pakistan risks watching others write the rules of a new order in which its interests are merely accommodated, rather than represented.