Greater BRICS: Why it matters for India and the world

Editor's note: Tang Song is tutor for Oxford University's PPE undergraduate course "Politics of South Asia," and PhD candidate in South Asian Studies at Oxford University.

This article reflects the author's opinions and not necessarily those of CGTN.

Greater BRICS matters because it can turn political partnership into practical development.

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Leaders of China and India agreed that the two countries should be partners rather than rivals.

They also called for economic and trade concerns to be addressed in a balanced manner and for direct connectivity and exchanges to expand.

These commitments matter economically.

More stable relations reduce uncertainty for businesses, keep official channels open and create better conditions for trade, investment and supply-chain cooperation.

The economic foundation is already substantial.

At the opening session of the BRICS Business Forum, Indian Commerce Secretary Rajesh Agrawal noted that intra-BRICS trade had risen from $84 billion in 2003 to nearly $1.2 trillion in 2024.

The test for Greater BRICS is whether this growing connectivity produces tangible gains: affordable infrastructure, more reliable supply chains, and access to new technologies.

India's experience shows how this can work.

Why economic partnership matters For many developing countries, the immediate constraint is a shortage of affordable, long-term finance.

The UN's 2026 Financing for Sustainable Development Report estimates an annual Sustainable Development Goal financing gap of more than $4 trillion.