The 18th BRICS Summit was held in New Delhi, India, on 12 September 2026. At the summit, BRICS leaders adopted the New Delhi Declaration and discussed reforms in global governance, the United Nations, and international financial institutions.
BRICS and the Global South
BRICS is an intergovernmental grouping of major emerging economies. Its members include Brazil, Russia, India, China, and South Africa, and the grouping has expanded in recent years to include new members. The term Global South refers to developing countries in Asia, Africa, Latin America, and parts of Oceania.
10-Point Reform Roadmap
Prime Minister Narendra Modi proposed a 10-point roadmap for global governance reform under the BRICS framework. The roadmap called for developing countries to move from rule-takers to rule-shapers in international decision-making. It also referred to a shift from a pyramid of privilege to a platform of partnership in global institutions.
UN Security Council and Financial Institutions
The roadmap called for time-bound restructuring of the United Nations Security Council to provide permanent representation for Global South countries. It also sought changes in the voting power, quota allocation, and management systems of the International Monetary Fund and the World Bank. These institutions were created in 1944 and remain central to global economic governance.
Important Facts for Exams
- The United Nations Security Council has 15 members, including 5 permanent members with veto power.
- The International Monetary Fund and the World Bank were established at the Bretton Woods Conference in 1944.
- BRICS was first formed in 2009 as BRIC and became BRICS after South Africa joined in 2010.
- The New Delhi Declaration is the joint statement adopted by BRICS leaders at the 18th summit.
Emerging Domains in Global Rule-Making
The roadmap also called for equal participation of the Global South in rule-making for artificial intelligence, cyberspace, outer space, and biotechnology. These areas are linked to international standards, digital governance, and scientific regulation.
The summit was attended by leaders including Xi Jinping, Vladimir Putin, and Masoud Pezeshkian. BRICS leaders also discussed the West Asia conflict during the meeting in New Delhi.
