Indian Economy News

Global Leaders Praise BRICS Summit Under India's Chairmanship

India's leadership of BRICS has won praise from several member countries following the successful conclusion of the 18th BRICS Summit in New Delhi, held under India's chairmanship, with BRICS comprising 11 major emerging economies representing nearly half the world's population and around 40% of global GDP. BRICS countries unanimously adopted the New Delhi Declaration 2026 at the summit, attended by Russian President Mr. Vladimir Putin and Chinese President Mr. Xi Jinping, with the declaration commending India's chairship. South African President Mr. Cyril Ramaphosa praised India's leadership, while China's state media hailed the declaration as a positive step for cooperation among Global South nations, and Russia reaffirmed its commitment to an inclusive, development-oriented BRICS partnership. Uruguay's Foreign Minister Mr. Mario Lubetkin said the declaration addressed the core needs of the Global South and provided a practical framework for shared global challenges.

UN Chief Mr. António Guterres praised India's BRICS Presidency and congratulated Prime Minister Mr. Narendra Modi on India holding the chairship for the fourth time, while World Health Organisation Director General Mr. Tedros Adhanom Ghebreyesus appreciated the declaration's commitments to universal health coverage and the Pathogen Access and Benefit Sharing Annex to the Pandemic Agreement. Mr. Michael Kugelman, Senior Fellow for South Asia at the Atlantic Council, described the summit as a success reflecting India's growing convening power. The declaration expressed concern over unilateral tariff measures distorting global trade and violating WTO rules, and stressed cooperation on terrorism and conflict prevention, with India's year-long chairship focused on strengthening economic cooperation and giving greater voice to the Global South.

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