New Delhi, Sep 11: India is gearing up to host the BRICS 2026 summit. India’s significance in this forum—with meetings commencing on September 12—is now indisputable. Although China is considered the most dominant nation within the group, India’s importance is by no means lesser.
It is remarkable how India has evolved from being perceived as a “weak link” in the BRICS group a few years ago to becoming a strong, pivotal member today. India’s standing in the global economy and its influence within the BRICS alliance have undergone a dramatic transformation. Having overcome the “weak nation” label it faced when hosting the summit in 2012, India has now emerged as a key “growth engine” of the bloc.
This marks the fourth time India will hold the presidency of the BRICS summit. It first hosted the event in 2012; at that time, some experts viewed India as a weak link among the BRICS nations. Today, the context, times, and circumstances have changed—and so has India. What are the major changes between 2012 and 2026? It has been an interesting journey…
From Economic Slowdown to Rapid Global Growth
In 2012, the GDP growth rate had fallen below 5 percent, accompanied by double-digit inflation. Questions had arisen such as, “Does India deserve to be in BRICS?” and “Should Indonesia be included instead of India?” Jim O’Neill, who coined the term BRICS, had spoken at length about this back in 2012.
By 2026, the situation has changed. Economic growth of 7.8% was recorded in the first quarter of 2026-27. It has grown at nearly three times the pace of the global economy. It continues to be the world’s fastest-growing major economy.
Sovereign Rating Upgrade
In 2012, S&P had warned that India’s investment-grade sovereign rating might be downgraded. In 2026, the Japan Credit Rating Agency (JCR) upgraded India’s sovereign rating from ‘BBB+’ to ‘A-’ (Stable Outlook). This reflects a robust economy, an improved fiscal system, and strong external economic resilience.
Geopolitical and Strategic Influence
Amidst US-China rivalry and global political conflicts, India’s policy of ‘neutral diplomacy’ (Strategic Autonomy) has gained significant global importance. The arrival of global leaders such as Russian President Vladimir Putin, Chinese President Xi Jinping, Iranian President Masoud Pezeshkian, and UAE Crown Prince Sheikh Khaled for the New Delhi summit stands as a testament to India’s global diplomatic stature.
With its digital infrastructure (DPI), expanding manufacturing sector, and robust economic growth, India is set to host the 2026 BRICS summit as a powerful global leader.