BRICS Explained: What It Means, How It Started, 2026 Theme And Why It Matters

BRICS, an abbreviation for Brazil, Russia, India, China and South Africa, is a coalition of emerging economies that plays a significant role in global economic, political and developmental issues. Initially formed in 2010, the group has since expanded, representing roughly 40% of the world's GDP. As India prepares to host the 18th BRICS Summit in September 2026, under its presidency, it is crucial to understand the origins, evolution, and significance of this influential platform.

The concept of BRIC was first proposed by economist Jim O'Neill in 2001, highlighting the potential of Brazil, Russia, India and China as emerging economies with substantial growth prospects. These nations began holding political-level meetings in 2006, culminating in their first official summit in Yekaterinburg, Russia, in 2009. With South Africa's addition in 2010, the group officially transformed into BRICS.

For the 18th BRICS Summit, which India will be hosting in 2026, the theme is "Building for Resilience, Innovation, Cooperation and Sustainability." This theme emphasizes enhancing economies, supply chains, and innovation, particularly through the use of artificial intelligence technologies, while also promoting climate action and clean energy transitions. The symbol for BRICS, which combines a lotus flower with the Namaste gesture, represents unity, cultural ethos, and cooperation among member nations.

BRICS serves as a forum for member countries to address trade, investment, development, technology, energy, climate change, and other global challenges. It also aims to amplify the influence of emerging and developing economies in institutions such as the International Monetary Fund and the World Bank. Notably, the New Development Bank, established by BRICS countries in 2015, focuses on financing infrastructure and sustainable development projects, which holds particular significance for India as it seeks to strengthen ties with major economies and advocate for a more representative, multipolar global order.