Page 4 - The Indian EYE 091826

COVER STORY SEPTEMBER 18, 2026 | The Indian Eye 4

BRICS SUMMIT 2026
NEW DELHI

CONSENSUS

The success of the Summit underscores a broader transformation in international relations. The global order is shifting
away from cold-war-style bloc politics toward multi-aligned diplomacy rooted in national interest and issue-based coalitions

and insurance pooling for transcon-
OUR BUREAU
tinental shipping. This pragmatism
New Delhi allows member nations to shield their
domestic markets from supply chain
ndia’s hosting of the 18th BRICS volatility while strengthening com-
Summit in New Delhi marks mercial ties across the Global South.
Ia watershed moment in twen- Rather than pursuing a disruptive
ty-first-century statecraft. Against a common currency, the grouping fo-
backdrop of sharpening geopolitical cused on practical financial integra-
rivalries, fragmentation of multilater- tion, encouraging the New Develop-
al institutions, and escalating regional ment Bank to scale up local-currency
conflicts, New Delhi orchestrated an project financing and build sustain-
ambitious diplomatic masterclass. Un- able credit channels for small and me-
der the leadership of Prime Minister dium-sized enterprises across devel-
Narendra Modi, India converted a po- oping economies.
tentially fractured grouping into a co- Tripartite Convergence
herent, action-oriented platform. The
summit at Bharat Mandapam not only Prime Minister Narendra Modi delivers opening remarks at the BRICS Summit he summit’s defining visual
reaffirmed India’s position as the indis- (Narendra Modi Photo Gallery/ANI Photo) and strategic footprint was the
pensable balance wheel of global poli- Tsimultaneous presence of Indi-
tics, but also opened a transformative clusive mediator capable of harmoniz- Economic Integration and an, Chinese, and Russian leadership
chapter in the evolving global order. ing disparate strategic positions. Financial Systems in New Delhi. Navigating relation-
A Masterclass in Consensus New Delhi harmonized compet- ships with both Beijing and Moscow
ing perspectives across West Asia by eyond political alignment, the requires subtle diplomacy, and New
osting an expanded elev- focusing on core principles of nation- summit laid down a concrete Delhi turned this trilateral dynamic
en-member bloc spanning al sovereignty, protection of civilians, Bblueprint for transforming in- into a constructive platform for re-
Hdistinct continents, econo- and immediate diplomatic de-escala- ter-BRICS trade and financial settle- gional stability and strategic dialogue.
mies, and political systems presented tion, allowing members with opposing ment mechanisms. India led the ini- The bilateral meeting between Prime
an extraordinary challenge. In previ- stances—including the United Arab tiative to enhance local currency trade Minister Modi and Chinese President
ous ministerial meetings, deep frac- Emirates and Iran—to sign off seam- settlements without pursuing an overt Xi Jinping—marking President Xi’s
tures over West Asia, global econom- lessly on shared regional principles. anti-dollar narrative, emphasizing fi- first visit to India in seven years—
ic governance, and unilateral trade Furthermore, the summit achieved nancial stability, transaction speed, represented a pivotal step forward in
measures frequently prevented joint historic consensus from permanent and cost reduction for developing normalizing ties after extended bor-
declarations, forcing reliance on chair UN Security Council members Russia economies. By promoting the work der friction along the Line of Actual
summaries. New Delhi completely and China, both of whom explicitly re- of the BRICS Payment Task Force Control. Both leaders agreed that re-
broke that stalemate by securing the iterated support for India and Brazil’s and advancing the interoperability of lations must be guided by mutual re-
unanimous adoption of the compre- aspirations for permanent seats on an national payment and financial-mes- spect, mutual sensitivity, and mutual
hensive, forty-five-page New Delhi expanded Security Council. India also saging systems, India showcased interest. Emphasizing that differences
Declaration. This outcome highlight- brokered balanced language opposing how domestic innovation can solve should not become disputes, both na-
ed India’s unique capacity to bridge arbitrary tariffs and unilateral eco- cross-border commercial friction tions committed to maintaining peace
stark political divides and align com- nomic sanctions without turning the across emerging markets. along border areas while addressing
peting interests around shared devel- summit into an anti-Western platform, The New Delhi Declaration es- structural trade imbalances.
opmental objectives. Intensive nego- while simultaneously maintaining an tablished an institutional framework Concurrently, bilateral discus-
tiations that extended into the early uncompromising, zero-tolerance po- for financial connectivity that encour- sions with Russian President Vladimir
morning hours proved New Delhi’s sition against cross-border terrorism, ages voluntary local currency mecha- Putin reaffirmed a resilient strategic
operational credibility as a patient, in- terrorism financing, and safe havens. nisms, cross-border banking linkages, Continued on next page... >>

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