But as India hosts the 18th BRICS Summit in New Delhi on September 12–13, there is a more practical question worth asking:
What does BRICS actually mean for an ordinary Indian?
The answer could eventually be seen in the markets Indian companies enter, the jobs they create, the technology they export, the way businesses receive international payments and even the skills young Indians need to build their careers.
First, what exactly is BRICS?
BRICS began in 2006 with Brazil, Russia, India and China, with South Africa joining later. It has since expanded significantly.
The current 11 full members are Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.
India is chairing BRICS in 2026 under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” The agenda spans development, finance, trade, technology and people-to-people cooperation.
That makes BRICS much more than a geopolitical grouping. It is also a large network of emerging markets.
But why should every Indian care about trade?
The word trade can sound like something meant only for economists and exporters. It is actually simple.
When India sells medicines, software, automobiles, agricultural products or engineering goods to another country, that is an export.
When India buys crude oil, electronics, machinery or other products from another country, that is an import.
In other words, trade is simply countries buying and selling goods and services to each other.
And trade eventually affects ordinary people.
More exports can mean more business and potentially more jobs. Easier imports can improve access to products and inputs. Disruptions, currency movements or higher trade costs can have the opposite effect.
That is why BRICS deserves attention beyond government and corporate boardrooms.
The opportunity: Can India turn a bigger grouping into bigger markets?
India's immediate opportunity is not simply “more countries”. It is easier access to markets.
India is pushing BRICS members to open markets, simplify regulatory procedures, improve trade facilitation, strengthen supply chains and promote deeper economic cooperation. Areas highlighted include pharmaceuticals, engineering, electronics, automobiles, services, agriculture, startups and emerging technologies.
For an Indian MSME, the important question is not how many countries sit around the BRICS table.
It is:
Can I find a customer there, sell my product, receive payment and compete without excessive friction?
If the answer becomes yes, BRICS becomes commercially meaningful.
The payment opportunity: Beyond the “BRICS currency” debate
Another area worth watching is cross-border payments.
India is advocating stronger links between payment systems and greater use of local currencies in trade.
For businesses, the real benefit would not necessarily be the creation of a new currency. It would be simpler questions getting better answers:
- How quickly can I get paid?
- How much will the transaction cost?
- How much currency risk will I carry?
India's experience with UPI gives it an important technology advantage to bring to this conversation.
But this will not happen overnight. Different currencies, regulations, capital controls and trade imbalances make cross-border settlement considerably more complicated than domestic digital payments.
Where should Indian businesses look?
The opportunity is broad, but three areas stand out.
Manufacturing and exports
Pharmaceuticals, engineering, automobiles, electronics, agriculture and other products could find new markets — provided Indian companies remain competitive on quality, cost and scale.
MSMEs and startups
Easier payments, trade finance and market access could help smaller businesses participate more actively in global trade. India has already placed MSME financing and seamless global trade payments on the BRICS agenda.
Technology
This may be India's most distinctive opportunity.
India's BRICS ICT agenda includes AI, next-generation communications, digital public infrastructure, cybersecurity, digital skills, innovation and startups.
That means the opportunity for India's IT industry may go beyond traditional outsourcing.
It could increasingly be about helping other emerging economies build their digital economies.
And then there is AI
AI could become one of the most interesting long-term opportunities for India within the BRICS ecosystem.
The opportunity is not necessarily to compete only on who builds the biggest AI model. India could focus on something equally important:
practical AI for real-world problems.
BRICS science cooperation has already been discussing shared computing infrastructure, collaborative data platforms and multilingual AI models, alongside responsible and equitable AI development.
If solutions built for India's challenges can be adapted for other emerging economies, “Made for India” could increasingly become “Built for the Global South.”
But there are challenges businesses should watch
The opportunity should not make us overlook the risks.
1. Market access is not automatically free
BRICS membership does not remove tariffs, regulations, customs procedures or non-tariff barriers.
India itself is asking members to open markets and simplify regulatory procedures. So businesses should watch implementation, not just announcements.
2. Local-currency trade has practical challenges
Reducing dependence on the dollar sounds attractive, but businesses still have to manage currency volatility, convertibility, settlement and trade imbalances.
3. Bigger markets also mean bigger competition
India may gain access to new markets, but Indian manufacturers will also compete with companies from China and other major economies.
BRICS can create a bigger opportunity and a bigger competitive battlefield at the same time.
4. AI brings a new risk: cybersecurity and trust
As Indian companies deliver AI, cloud and digital services across borders, they will have to deal with different data-protection rules, cybersecurity requirements and AI-governance frameworks.
India's BRICS ICT discussions have therefore placed cybersecurity and trustworthy ICT alongside AI and digital innovation.
The question for technology companies will no longer be only:
“What AI solution can we build?”
It will also be:
“Can we deploy it securely, responsibly and compliantly across different countries?”
So, what should every Indian watch after the summit?
Not just the speeches.
Watch five things:
- Will trade become easier?
- Will cross-border payments become simpler?
- Will Indian technology and AI companies find new markets?
- Will MSMEs actually benefit from greater global access?
- And will Indian businesses be competitive enough to capture the opportunity?
Because a larger market does not automatically mean a larger Indian share of that market.
The real BRICS test
The success of India's BRICS presidency should not ultimately be measured only by the number of leaders attending the summit or the number of declarations issued.
It should be measured by what becomes possible after the summit.
Can an Indian MSME find an overseas customer more easily?
Can an exporter receive payment with less friction?
Can an Indian IT company sell an AI solution to another emerging economy?
Can a startup scale beyond India?
Can Indian professionals gain new global opportunities?
If the answer to these questions gradually becomes yes, BRICS will have moved beyond geopolitics and into everyday economics.
BRICS can open the door to a much larger global market. But opening the door is not the same as winning the market.
For India, the real opportunity is to turn global partnerships into competitive advantage — through better businesses, stronger technology and skilled people.
The summit may happen in New Delhi. The real impact will be measured by what happens across India's businesses, industries and workplaces afterwards.
Author
Tripti Upadhyay is working with Tata Consultancy Services.
LinkedIn: linkedin.com/in/triptiupadhyay
