India’s BRICS summit in Delhi is set against the backdrop of former U.S. President Donald Trump’s tariff threat, a backdrop that has reshaped global trade and energy markets in recent years. While the bloc is not a U.S. partner, the lingering impact of Trump‑era policies is felt in the diplomatic tone and the measures that BRICS members consider.
With 11 member economies—including the host India, China, Russia and Brazil—the summit tackles a wide array of security and economic issues. Yet the most consequential topic relates to how Trump’s tariffs and sanctions ripple through the energy‑intensive sectors of the world, creating volatility that threatens climate goals.
BRICS remains deeply divided on adopting an overt anti‑U.S. stance. India, which is finalising a trade pact with Washington, seeks a cautious approach; China’s fear of appearing hostile to the United States adds further restraint; and the UAE’s dependence on U.S. military bases dampens prospects for a hardline declaration.
Despite these tensions, the bloc’s expansion has created a large economic footprint – 49% of global population, 40% of GDP, 26% of trade – that could provide a powerful platform to channel funds into sustainable infrastructure.
The New Development Bank, a core BRICS asset, has committed billions to renewable projects and low‑carbon infrastructure in the Global South, a figure that is still small relative to the scale of climate need. A $100bn contingency reserve could offer a safety net for members facing financial crises, including those hit by sanctions.
Briggs leaders are likely to push for easier cross‑border payments in local currencies, a move that could reduce dependency on the U.S. dollar and mitigate the impact of U.S. sanctions on trade in clean energy technology.
India hopes to elevate its status as the “voice of the Global South” by promoting reforms in institutions such as the United Nations, IMF and World Bank, and by showcasing BRICS’ achievements in renewable finance.
Bilaterally, the summit will feature crucial meetings: Xi and Modi will reassess trade in renewable technologies, and Modi will engage with Putin on the Ukraine war. Economic issues such as India’s trade deficit with Russia and China, and the broader push‑back against U.S. tariffs, will dominate discussion.
Ultimately, the ambitions of this gathering reflect the dual pressures of geopolitics and climate urgency. While Washington watches closely, BRICS’s success will hinge on its ability to unite a diverse group around concrete climate‑finance initiatives and to articulate a cohesive stance that balances the desire for national interests with the shared global challenge of decarbonising the world.
