BRICS Summit 2026 Opens in India as Trade, Energy and Supply Chain Risks Rise

The 18th BRICS Leaders’ Summit is set to take place in New Delhi on September 12–13, bringing together leaders of the expanded 11-member grouping at a time when global trade, energy security and supply chains are facing renewed pressure.

Indian Prime Minister Narendra Modi will host the summit, with Chinese President Xi Jinping, Russian President Vladimir Putin, South African President Cyril Ramaphosa and other leaders expected to attend. Iran will also be represented, while the United Arab Emirates is expected to send Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

The summit comes against a difficult geopolitical backdrop. The conflict involving Iran has disrupted oil shipments through the Strait of Hormuz and pushed crude prices above $100 a barrel, making energy security one of the most important economic issues facing BRICS members.

Trade and Energy Security Take Centre Stage

Trade, investment and energy security are expected to feature prominently during the summit as BRICS members look for ways to strengthen economic cooperation.

The grouping has expanded significantly in recent years, adding countries including Iran, Egypt, Ethiopia, the United Arab Emirates and Indonesia. The expansion has increased BRICS’ economic and geopolitical weight, but it has also introduced different national interests and competing foreign-policy priorities.

For financial markets, the energy discussion is particularly important.

The current disruption around the Strait of Hormuz has demonstrated how quickly geopolitical tensions can affect global energy flows. With oil prices already elevated, further disruption could increase transportation and production costs worldwide and add pressure to inflation.

BRICS members include some of the world’s major energy producers and consumers. Russia remains a major oil supplier to international markets, while China and India are among the world’s largest energy importers. This gives the bloc a significant interest in maintaining stable energy and commodity flows.

Supply Chains Become a Key Economic Issue

The summit is also expected to address the resilience of global supply chains.

Recent disruptions to major shipping routes have highlighted the vulnerability of international trade to geopolitical conflicts. BRICS countries are increasingly interested in improving transport links, logistics cooperation and alternative trade routes.

One proposal under discussion is a BRICS logistics and supply-chain cooperation framework aimed at improving transport connectivity and making trade networks more resilient. Leaders are also expected to consider initiatives supporting startups and innovation, including a proposed BRICS Startup Innovation Fund and an incubator network.

Such initiatives could become increasingly important as companies and governments seek to reduce dependence on individual markets and vulnerable transportation routes.

BRICS and the Global Financial System

Another long-term issue surrounding BRICS is the group’s ambition to increase economic cooperation outside traditional Western-led institutions.

The bloc has discussed greater use of local currencies, cross-border payment systems and alternatives that could reduce dependence on the US dollar. However, creating a common financial framework remains difficult because member economies have different currencies, banking systems and monetary policies.

For investors, any meaningful progress toward easier cross-border payments could eventually influence international capital flows and currency markets.

However, analysts caution that the expanded BRICS grouping remains politically diverse. The current Iran conflict has created particularly difficult divisions between Iran and the UAE, making consensus harder to achieve. Reuters reported that these differences could complicate efforts to produce a joint declaration at the summit.

Modi-Xi and Modi-Putin Meetings in Focus

Alongside the formal BRICS discussions, bilateral meetings are likely to attract significant market attention.

A meeting between Modi and Xi would be closely watched as India and China continue efforts to stabilise relations following tensions along their disputed Himalayan border. Xi’s visit is also significant because it is his first trip to India in nearly seven years.

Modi is also expected to hold talks with Putin, with trade and economic cooperation likely to feature prominently. Russia remains one of India’s major energy suppliers, making the relationship particularly important while global oil markets face disruption.

These bilateral discussions could influence future trade, investment and energy arrangements between some of the world’s largest emerging economies.

What the Summit Means for Global Markets

For financial markets, the immediate impact will depend less on political statements and more on whether BRICS members can agree on practical economic measures.

Progress on energy cooperation, supply-chain resilience, trade facilitation or cross-border payments could strengthen the bloc’s economic influence over time.

However, disagreements over geopolitical conflicts could limit the group’s ability to reach a unified position.

The New Delhi summit therefore arrives at a critical moment. With oil above $100, shipping routes under pressure and global trade facing increasing geopolitical risks, investors will be watching whether BRICS can turn its growing economic weight into practical cooperation.

The outcome could provide further clues about the future direction of global trade, energy markets and the broader shift towards a more multipolar international economic system.