Tech, Trade, Transformation: BRICS Summit Maps Path to Shared Prosperity

The XVIII BRICS Summit in New Delhi (12–13 September 2026) placed business and technology at the heart of its vision for resilience, innovation, and sustainability. Leaders of Brazil, Russia, India, China, and South Africa emphasized reforms in global economic governance, digital innovation, and trade systems to empower emerging markets and developing economies (EMDEs).

We will continue to strengthen coordination among BRICS members to make international financial institutions more representative, transparent and accountable. (Declaration, para. 17)

Reforming Global Economic Institutions

• IMF quota reforms:
  pushing for meaningful realignment to reflect EMDEs’ growing share in global output.
• World Bank shareholding review:
  correcting historic underrepresentation of developing countries.
• WTO reform:
  restoring credibility through a fair dispute settlement mechanism and supporting accession bids of Ethiopia and Iran.

These reforms aim to create a more agile, inclusive, and representative global financial architecture that supports sustainable growth.

Technology, Innovation, and Digital Transformation

• Innovation-driven growth:
  promotion across industries to strengthen resilience.
• Digital divide:
  opposing unilateral sanctions that restrict access to technology and deepen inequality.
• Inclusive digital cooperation:
  ensuring EMDEs benefit from technological globalization.

By fostering collaboration in emerging technologies, BRICS aims to empower businesses and societies to adapt to rapid technological change.

Trade, Supply Chains, and Business Cooperation

• Unilateral tariffs:
  condemnation of trade barriers that disrupt global supply chains.
• Open and equitable trade:
  support under WTO principles, including Special and Differential Treatment for developing members.
• Zero-tariff treatment:
  recognition of China’s expansion to 53 African countries, strengthening South-South trade.

These measures reflect BRICS’ commitment to building resilient supply chains and ensuring businesses in developing economies can thrive in a fair global marketplace.

Business and Technology Outlook

• Financial reforms:
  unlocking capital for innovation and infrastructure.
• Digital inclusion:
  bridging technological gaps and empowering startups and enterprises.
• Trade frameworks:
  ensuring equitable market access for businesses across the Global South.

Together, these initiatives signal a future where business and technology cooperation under BRICS will shape a more resilient, inclusive, and sustainable global economy.