India's BRICS moment at a crossroads

India will host the 18th BRICS summit this weekend, a moment of great significance for the global cooperation forum. Originally established as an acronym for four emerging economies in 2001, BRICS has expanded to include 11 member nations representing nearly half of humanity and accounting for about 40% of global GDP. Despite their diverse histories, development paths and world views, the group's members have found a way to work together on a range of issues, from infrastructure and sustainable development to health, agriculture and climate action.

The summit's theme, "Building for Resilience, Innovation, Cooperation and Sustainability," provides a framework for the India chairship to shape the next chapter of BRICS. Key priorities include strengthening dialogue, enhancing resilience, promoting sustainability as a development imperative, and reinforcing multilateralism.

In an increasingly fractured geopolitical landscape, BRICS should focus on keeping countries engaged through multilateralism rather than seeking to replace it. Dialogue may not resolve every difference, but it can prevent miscalculation, preserve trust and reveal opportunities for cooperation. BRICS can also assume greater responsibility in areas such as public health, climate action, food security and development, filling gaps left by the US withdrawal from international bodies like the Paris Agreement and WHO.

Addressing supply chain fragility, BRICS can leverage its collective strengths in energy, food, mineral resources, manufacturing and technology to create more dependable value chains. This can be achieved through initiatives like electronic bills of lading and secure cross-border payments, as well as exploring more sustainable approaches to development.

By accounting for national circumstances and different transition pathways, BRICS can promote climate action, raise farm productivity, lower the cost of cleaner technologies and reduce dependence on critical supply chains.