BRICS at 20: Modi Makes the Case for a Bloc That Speaks for Half the World
New Delhi, September 11, 2026
Prime Minister Narendra Modi on Friday made a forceful case for the rising economic and strategic weight of BRICS, telling business and political leaders in New Delhi that the grouping has become one of the most consequential forces in the global economy.
Addressing the Leaders’ Session of the BRICS Business Forum, Modi said BRICS nations together represent around half of the world’s population, roughly 40% of global GDP and more than 25% of global trade. He described the Delhi gathering as the largest BRICS Business Forum ever convened, calling it proof of the bloc’s growing scale and optimism.
Growing at twice the world’s pace
The most striking figure in the Prime Minister’s address concerned growth. Since the grouping was launched, Modi said, the global economy has expanded roughly two-and-a-half times, while the combined GDP of BRICS nations has grown nearly four-and-a-half times. In effect, he noted, the economic strength of BRICS has been rising at almost double the pace of the rest of the world.
The numbers reflect a broader shift that economists have tracked for two decades: the steady movement of economic gravity away from the traditional industrial powers and toward large emerging markets in Asia, Africa, Latin America and the Middle East.
From four nations to a family of 21
The address carried added symbolism because 2026 marks 20 years since BRICS began in 2006. Modi recalled that the group started with just four countries: Brazil, Russia, India and China. South Africa joined in 2010, and in recent years the bloc has expanded to include nations such as Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia. Counting both full members and partner countries, the Prime Minister said, the BRICS family has now grown to 21 nations.
That expansion is a large part of why the grouping’s demographic and economic footprint has grown so quickly. It has also widened the bloc’s reach across energy producers, manufacturing hubs and some of the world’s fastest-growing consumer markets.
India’s chairmanship and the RICS agenda
India holds the BRICS chairmanship this year under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” Modi said India has, for more than a decade, made these principles the foundation of its own economic and trade policies.
He pointed to India’s push into strategic sectors including semiconductors, shipbuilding, quantum technology, critical minerals and biotechnology. He also highlighted the Unified Payments Interface (UPI), saying it has brought digital payments and financial inclusion to people on a population scale, and that India now accounts for about half of the world’s real-time digital payments.
BRICS countries, Modi added, are emerging as important centres of innovation, with new ideas taking shape everywhere from grassroots enterprises to frontier technologies.
A call to tear down trade barriers
Beyond the statistics, the Prime Minister put forward a practical proposal. He urged BRICS members to identify and remove their top 10 trade barriers, arguing that the group’s economic potential cannot be fully realised while obstacles to trade among its own members remain.
Contrasting India’s approach with rising protectionism elsewhere, Modi said that while barriers to trade are going up around the world, India is building “economic bridges.” He noted that India has diversified its supply chains and signed a series of free trade agreements in recent years, and presented the country as a source of confidence for growth and stability amid global uncertainty.
He also stressed the importance of maritime security for global commerce, calling for secure sea lanes, open supply routes and the safety of seafarers, and reaffirming India’s support for freedom of navigation. The remarks come at a time when disruptions to shipping routes have raised costs and uncertainty for traders worldwide.
Why it matters
Modi’s remarks arrive amid an intense global debate about the changing balance of economic power. Trade tensions, tariff escalations and supply chain disruptions have pushed many countries to rethink their partnerships, and emerging economies are seeking a larger voice in institutions and rules that were largely designed by advanced economies.
For supporters, BRICS offers exactly that: a platform where major developing nations can coordinate on trade, investment, development finance and reform of global governance. Initiatives such as the New Development Bank and discussions on trade in local currencies have given the bloc concrete tools beyond summit declarations.
Sceptics, however, point to the challenges that come with size. BRICS members have very different political systems, economic structures and foreign policy priorities. Trade among members remains uneven, with several countries running large deficits with China, and rivalries within the group, including between India and China, can make consensus difficult. Rapid expansion has also raised questions about whether a larger bloc can remain focused and effective.
The road ahead
As BRICS enters its third decade, India is positioning its chairmanship around turning the group’s scale into tangible results: fewer trade barriers, more resilient supply chains, stronger technology cooperation and safer global trade routes.
The figures cited by the Prime Minister make clear that BRICS can no longer be seen as a loose club of emerging markets. With half the world’s people, two-fifths of its output and a growing share of its trade, the bloc has the weight to shape the global economy. The real test, as the grouping marks its 20th anniversary, will be whether its members can translate that collective strength into shared progress.