India on Thursday formally took over the rotating presidency of the Brics grouping for 2026, with New Delhi expected to push for more inclusive development and a stronger role for the Global South in international economic governance, at a time when US President Donald Trump’s tariff policies have disrupted global trade.
Brics was originally formed by Brazil, Russia, India, China and South Africa, but has expanded over the past two years to include Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. The Brics website lists Saudi Arabia as the bloc’s 11th member, though some reports say Riyadh has yet to formally join.
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According to World Bank data, the expanded grouping accounts for about 49% of the world’s population, roughly 29% of global gross domestic product and 23% of international trade.
Trump imposed tariffs of up to 50% on Indian goods in August, including a 25% penalty linked to India’s purchases of Russian oil. The rate is the highest applied to any US trading partner and matched duties imposed on Brazil, which held the Brics presidency in 2025. Washington later lifted additional levies on several Brazilian food exports, including coffee and beef, in November.
In February, Trump warned Brics countries against pursuing a common currency, declaring the bloc “dead” and threatening 100% tariffs if members sought to challenge the dominance of the US dollar.
“Facing Trump tariffs, India will likely resist confrontational de-dollarization, and instead promote local currency settlements to maintain strategic autonomy during its Brics presidency,” Nikkei Asia quoted Prerna Gandhi, an associate fellow at India’s Vivekananda International Foundation think tank, as saying.
“India will also push for reforms in multilateral institutions like the World Trade Organization and International Monetary Fund while encouraging dialogue that reduces fragmentation and promotes stability in global supply chains,” she added.
Raj Kumar Sharma, a senior research fellow at New Delhi-based think tank NatStrat, told Nikkei Asia that India will use its Brics presidency to “defend and strengthen multilateralism against any unilateral impulses.”
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“There is need to strengthen multilateral trading systems during current times when protectionism and tariffs are increasing. At the same time, India wil