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Dewey Sim

Laura Zhou

Cao Jiaxuan

Leaders from some of the world’s largest emerging economies are gathering in New Delhi this weekend for a summit marking the 20th anniversary of Brics, a fast-expanding group of developing nations.
Chinese President Xi Jinping, along with his Russian and Iranian counterparts Vladimir Putin and Masoud Pezeshkian, are among those meeting in the Indian capital for one of the group’s most closely watched gatherings in years.
Brics can point to some achievements over that time, with analysts highlighting its growing influence and role as a champion of the Global South.
But serious challenges lie ahead, including major splits on issues such as the best approach to handling the United States and what one observer described as a “bottleneck” impeding its development.
The grouping first took shape in 2006 when Brazil, Russia, India and China began informal talks before it was officially established in 2009.
It expanded in 2010 to include South Africa, turning it from Bric to Brics. Then Egypt, Ethiopia, Iran, Saudi Arabia and United Arab Emirates joined in 2024, with Indonesia following a year later. A further 10 countries have been brought in as partner nations.
Its early focus was on economic cooperation and reforming Western-dominated financial institutions such as the International Monetary Fund and World Bank, which have been widely criticised for not representing the interests of the developing world.
But the bloc’s growth means that it has been increasingly seen as an attempt to build an alternative international order.
“Brics has not only grown stronger over the past 20 years but it has also achieved some successes,” said Lin Minwang, vice-dean at Fudan University’s Institute of International Studies.
He pointed to financial collaborations such as the New Development Bank, which bankrolls infrastructure and development projects in member states, as some of the bloc’s main achievements.
Qian Feng, a senior research fellow at the National Strategy Institute at Tsinghua University, said the expanded Brics still had “a lot to offer”, with the grouping now representing over 40 per cent of the world’s population and GDP.
He said Brics had established a “new multilateral paradigm”, as a voluntary and non-binding partnership that did not require a formal alliance.
Qian added that the bloc had also stepped into gaps left open by existing global institutions of global governance, without trying to overthrow the international order.
“Brics is now widely recognised as the leading force in the Global South, which significantly enhances the Global South’s voice and influence on global governance issues,” he said.


The grouping had also expanded its scope to include issues such as counterterrorism, cybersecurity, innovation and artificial intelligence, he added.
But observers were blunt about the challenges facing the bloc, arguing that its expansion had brought in more competing voices, which slowed its progress and made it harder to reach a consensus.
Jiang Shixue, a distinguished professor at Hangzhou Normal University, said the 11 members “cannot speak with one voice on many issues”.
Jiang, who is also vice-president of the Expert Committee of the China Think Tank Council for Brics Cooperation (China), added: “The only solution is to continuously strengthen political consensus.”
Lin said the expansion had widened divisions within the bloc and had “brought many conflicts into the mix”.
“The biggest challenge is the lack of consensus among members on the direction of development [of the Brics], especially since the start of the strategic competition between China and the US,” he said.
“Although Brics itself has not said that it is challenging or opposing the United States, some countries remain sceptical.”
Qian also pointed to divisions over its stance towards the West, adding that Iran and Russia were the most openly anti-Western members.
He also said the bloc was experiencing “growing pains” and even when member states proposed new ways to cooperate, practical outcomes had often been limited.
He said that despite its push to reduce the US dollar’s dominance by settling more transactions in local currencies, these only accounted for 20 per cent or so of intraregional deals.
This attempt at de-dollarisation has also drawn the ire of US President Donald Trump, who has threatened 100 per cent tariffs if the bloc creates a rival currency.
Analysts also pointed to organisational problems within the bloc, such as the lack of a permanent secretariat, which Qian said left it heavily reliant on the coordination capacity of whichever country holds the rotating chair.
Lin made a similar point, saying Brics nations had proposed various initiatives but there had been little follow-through.
“Because there’s no broad strategic consensus, most of its initiatives have not been implemented,” he said.
As a result, it had reached a “bottleneck in its development” with member states only looking for development opportunities on the margins.


But observers said there was still much to cheer as the grouping marked 20 years of cooperation. Beijing, for one, has praised Brics as a “key platform for solidarity and cooperation among emerging markets and developing countries”.
“Brics countries have been committed to upholding multilateralism, defending fairness and justice, and pursuing common development ever since the grouping was formed. Today, Brics has grown into a real force standing at the forefront of the Global South,” foreign ministry spokeswoman Mao Ning said on Friday.
Qian said the summit this weekend was particularly important given the current turmoil in global affairs.
“As the leading group in the Global South, the Brics countries should voice their support for multilateralism and oppose bloc confrontation,” he said.


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The grouping has emerged as a strong champion of the Global South, but analysts warned that major challenges still lie ahead


The grouping has emerged as a strong champion of the Global South, but analysts warned that major challenges still lie ahead.


Internal splits threaten to slow Brics’ progress as bloc looks back on 20 years of growth

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The grouping has emerged as a strong champion of the Global South, but analysts warned that major challenges still lie ahead

The grouping has emerged as a strong champion of the Global South, but analysts warned that major challenges still lie ahead