India Hosts BRICS Summit Amid Rising Global Influence

India is set to host the 11-member BRICS summit in New Delhi, marking a significant milestone in the country's rising global influence. When India first chaired BRICS in 2012, its position was accompanied by questions about the strength of its economy and its ability to keep pace with other emerging powers.

At the time, the global economy was still grappling with the Eurozone debt crisis, while India faced slowing growth, elevated inflation, and pressure on the rupee. These factors contributed to concerns over whether the country could maintain its position among the major emerging economies. Jim O'Neill of Goldman Sachs described India as the 'least attractive' BRIC economy in valuation terms, and questions were even raised over whether Indonesia could replace India as the 'I' in BRIC.

The concerns were not limited to market commentary, with Standard & Poor's warning that India could become the first BRIC nation to lose its investment-grade sovereign rating. The warning reflected the degree of uncertainty surrounding the country's economic trajectory at the time. India's growth had also weakened considerably, with economic expansion during 2012-13 slipping below 5 per cent, while inflation remained in double digits.

However, fourteen years later, the picture looks markedly different. India has emerged as one of BRICS' important growth engines, with its economic performance giving the country greater weight within the grouping. Despite a global environment marked by conflicts in Europe and the Middle East, India registered 7.8 per cent real GDP growth in the first quarter of fiscal year 2026-27.

The reversal in perceptions of India's sovereign strength is equally notable. The country, which was once warned about potentially losing investment-grade status, received an upgrade from the Japan Credit Rating Agency in September 2026. Its sovereign rating was raised from BBB+ to A-, with a stable outlook, with the agency citing resilient economic growth, improved fiscal management, and a stable political environment.

India's growing influence in BRICS is a testament to the country's economic resilience and its ability to navigate complex global challenges. As the country prepares to host the BRICS summit, it is clear that India has come a long way since its first chairship in 2012. The summit offers an opportunity for India to showcase its growing global influence and to play a key role in shaping the future of the BRICS grouping.

The BRICS summit will also provide a platform for India to engage with other emerging economies and to discuss key issues such as trade, investment, and economic cooperation. With its growing economic clout and its increasingly important role in global affairs, India is well-positioned to play a leading role in shaping the future of the BRICS grouping.

In conclusion, India's hosting of the BRICS summit marks a significant milestone in the country's rising global influence. With its growing economic clout and its increasingly important role in global affairs, India is well-positioned to play a leading role in shaping the future of the BRICS grouping and to emerge as a key player in the global economy.

The implications of India's growing influence in BRICS are far-reaching, with the potential to reshape the global economic landscape and to create new opportunities for trade, investment, and economic cooperation. As the country continues to grow and develop, it is likely that India will play an increasingly important role in shaping the future of the global economy.

India's emergence as a key player in BRICS is a testament to the country's economic resilience and its ability to navigate complex global challenges. With its growing influence in the grouping, India is well-positioned to play a leading role in shaping the future of the global economy and to emerge as a major player in international affairs.

The BRICS summit will provide a platform for India to engage with other emerging economies and to discuss key issues such as trade, investment, and economic cooperation. With its growing economic clout and its increasingly important role in global affairs, India is well-positioned to play a leading role in shaping the future of the BRICS grouping and to emerge as a key player in the global economy.

In the coming years, India's influence in BRICS is likely to continue to grow, with the potential to reshape the global economic landscape and to create new opportunities for trade, investment, and economic cooperation. As the country continues to grow and develop, it is likely that India will play an increasingly important role in shaping the future of the global economy.

The significance of India's growing influence in BRICS cannot be overstated, with the potential to have far-reaching implications for the global economy and international affairs. As the country continues to grow and develop, it is likely that India will play an increasingly important role in shaping the future of the global economy and to emerge as a major player in international affairs.

In conclusion, India's emergence as a key player in BRICS is a testament to the country's economic resilience and its ability to navigate complex global challenges. With its growing influence in the grouping, India is well-positioned to play a leading role in shaping the future of the global economy and to emerge as a major player in international affairs.

What it means for Mumbai or India is that the country's growing influence in BRICS will have far-reaching implications for the economy and international affairs. As India continues to grow and develop, it is likely that the country will play an increasingly important role in shaping the future of the global economy and to emerge as a major player in international affairs.