In The New Global Order, BRICS Can No Longer Be A Peripheral Presence

At the India BRICS Dialogue, organised in New Delhi by The Secretariat in collaboration with Pahle India Foundation and supported by The Spark Forum, global leaders and policy experts came together to discuss what is at stake in the global order and how the BRICS can take the centrestage in a fragmented world. 

The first session of the India BRICS Dialogue, moderated by J.N. Singh, former Chief Secretary of Gujarat, featured expert analysis of the current geopolitical situation. The panellists for the first session were: Rajiv Kumar, Chairperson, Pahle India Foundation (former Vice Chairman, NITI Aayog), Sanjay Bhattacharyya, former Ambassador (India) and BRICS Sherpa, and Mikhail Pontser, First Secretary, Embassy of the Russian Federation in India. 

From de-dollarisation to the challenges and opportunities of BRICS and the emerging global powers of the 21st century, besides the decline of the world order, the panellists shared their insights into the geopolitical reconfiguration underway amid the global crisis. 

This is the moment for the BRICS to give voice to the Global South. With disruptions in the Strait of Hormuz and the Suez Canal, countries have been exploring new trade routes. When India's maritime trade in West Asia came to a halt, it sought new routes, with plans now on to reroute its cargo shipment to China. 

Ripple Effects Of A Global Crisis

Even though Tehran has agreed to a two-week ceasefire, with US President Donald Trump suspending US attacks (subject to Tehran agreeing to reopen the Strait of Hormuz), the ripple effects of the intense conflict in West Asia would have an enduring impact across the globe. 

As India is hosting the 18th BRICS Summit in 2026, having officially assumed the BRICS presidency on January 1, 2026, from Brazil, the onus is now on the stakeholders to navigate a complex geopolitical structure and bridge the gap between the Global South and other global powers. 

 "There are enough opportunities and challenges for BRICS to make a difference," highlighted Rajiv Kumar. 

With the inclusion of Iran, the UAE, and others, we [BRICS] are now energy surplus. BRICS is now a capital surplus bloc as well

– Rajiv Kumar, Chairperson, Pahle India Foundation (former Vice Chairman, NITI Aayog)

According to the eminent economist, the world is seeing the decline of the global order that it inherited from the Second World War. "What is required is a larger degree of coherence within the BRICS," he underscores, pointing out that, "We must recognise that India and China are two emerging powers in the 21st century."

Global Realignment Amid West Asia Crisis

As the conflict has already had its devastating impact on the global supply chain and the energy market, de-escalation has become essential. The West Asia crisis has demonstrated how fragile global supply chains can be. Experts have already warned of the economic downturns that the ongoing crisis has on the global front. 

Global realignment amid the West Asia crisis is both complex and urgent

– Mikhail Pontser, First Secretary, Embassy of the Russian Federation in India

As BRICS represents nearly half of the world's population, it is not just a platform anymore. It's a reflection of a changing reality, Pontser highlights. The impact does not stop at the battlefield. The crisis is already affecting the global energy market, he says. 

Importance Of Decision-Making

On the growing significance of BRICS and its role in shaping the voice of the Global South, Sanjay Bhattacharyya shed light on the importance of consensus in the agenda and decision-making of BRICS. 

What we saw in the last month or so [amid the West Asia conflict] was crisis management

– Sanjay Bhattacharyya, former Ambassador (India) and BRICS Sherpa

BRICS is not for de-dollarisation. BRICS was born out of the idea of collaboration with the West, Bhattacharyya further pointed out. "We need to see how crisis management becomes a crucial aspect of the BRICS agenda," he said. 

In a fragmented world, BRICS can act as an anchor of stability, striking a balance between diplomacy and strategic autonomy with constructive global leadership.

Watch the India BRICS Dialogue on: https://youtube.com/live/mJkIA9VC7DE?feature=share