Now Reading: India chairs BRICS as foreign ministers fail to agree
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India chairs BRICS as foreign ministers fail to agree
BRICS foreign ministers met in New Delhi on 14-15 May 2026 but failed to issue a joint statement, with host India releasing only a chair’s statement. Chinese Foreign Minister Wang Yi skipped…
The Story in Brief
BRICS foreign ministers met in New Delhi on 14-15 May 2026 but failed to issue a joint statement, with host India releasing only a chair’s statement. Chinese Foreign Minister Wang Yi skipped the meeting to host US President Donald Trump in Beijing. The grouping now plans for the 18th BRICS Summit in New Delhi on 12-13 September, with Chinese President Xi Jinping and Russian President Vladimir Putin expected to attend. Brazilian President Lula da Silva is likely to skip due to elections.
The Hindu Business Line reports that proposals for a common BRICS currency will not gain traction at the summit. Instead, focus will be on strengthening the New Development Bank, which has approved $42.9 billion in financing across 139 projects. Bangladesh Prime Minister Tarique Rahman has been invited but not confirmed. About 27 invitees, including 10 members and 10 partner countries, are expected.
The Indian Opinion
Hype around BRICS as an anti-Western bloc does not match reality. The New Delhi chair’s statement avoided anti-West rhetoric and aggressive de-dollarisation, and the common currency proposal has been shelved. Many members, including India, maintain strong ties with both the US and China. The real test will come at the September summit: watch whether leaders push for local-currency trade beyond empty declarations.
Sources (2): millenniumpost.in, thehindubusinessline.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
