INTRODUCTION
The 18th BRICS Summit, held in New Delhi on 12–13 September 2026 under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” concluded with the unanimous adoption of the New Delhi Declaration. Comprising 140 points, the Declaration sets out an extensive agenda for cooperation across political and security, economic and financial, and cultural and people-to-people spheres. It places particular emphasis on strengthening multilateralism, promoting inclusive economic growth, supporting technological and industrial development, and enhancing the participation of emerging markets and developing economies (EMDCs) in global governance.
KEY POINTS OF DICUSSIONS
A central theme of the Declaration is the reform of global governance. BRICS reaffirmed its commitment to a more representative, equitable and accountable international system, while emphasising multilateralism, multipolarity, international law upholding the principles of the UN Charter.
The Declaration calls for greater participation of emerging and developing economies in international decision-making and continued reform of global economic governance. It also reiterates the importance of institutions reflecting contemporary economic realities and strengthening the voice of the Global South. This approach places BRICS cooperation within a broader objective of creating a more inclusive international economic and political architecture.
The Declaration expresses concern regarding unjustified unilateral protectionist measures inconsistent with WTO rules and calls for a fair, stable and predictable environment for sustainable development.
It emphasises the development of resilient, reliable and stable global value chains (GVCs) and seeks broader participation of emerging markets and developing economies in higher-value segments of global manufacturing and production. This includes cooperation in trade and investment, productive capacity, technical cooperation and technology transfer, subject to national laws, regulations and policies.
For MSMEs, the Declaration recognises access to affordable finance as a significant constraint on participation in international trade and GVCs. It therefore supports innovative financing mechanisms and welcomes the study of an Invoice Discounting Mechanism to help businesses unlock working capital and participate more effectively in international trade.
A key message emerging from the Declaration is the strengthening of economic cooperation among developing economies. It does not creates a BRIC currency bit BRICS members reaffirmed their support for greater use of local currencies in cross-border trade and investment, while continuing discussions on improving cross-border payment interoperability. It lays emphasis on financial cooperation, including continued work on local-currency transactions and cross-border payment systems. The Declaration also encouraged the New Development Bank (NDB) to expand local-currency financing for infrastructure and sustainable development and infrastructure projects.
Artificial Intelligence occupies an increasingly important place in the BRICS cooperation agenda. The Declaration recognises AI as a major opportunity for economic growth and sustainable development, while stressing the importance of international cooperation to ensure that AI is safe, secure, inclusive and reliable.
It supports cooperation in AI science and innovation, accessibility of AI resources, development of trustworthy AI technologies, energy efficiency of AI systems and the use of AI for economic growth and social good. At the same time, it recognises the need to mitigate risks associated with AI and supports implementation of the BRICS Leaders’ Statement on the Global Governance of Artificial Intelligence.
The Declaration also connects AI with broader industrial transformation. Cooperation under the Partnership on the New Industrial Revolution (PartNIR) is intended to support Industry 4.0, advanced manufacturing, start-ups and SMEs. The Declaration welcomes the BRICS Incubator Network, continued development of the BRICS Startup Knowledge Hub and Startup Forum, and further consideration of a BRICS Startup Innovation Fund.
BRICS encourages cooperation among IP offices in areas including IP awareness, capacity building, commercialisation, patent examination, traditional knowledge, Appellations of Origin, Geographical Indications and AI applications. Importantly, it recognises the need to respect IP rights in the digital environment, including in relation to the use of protected material for AI training, while also recognising the importance of fair remuneration for rights holders.
The Declaration further acknowledges risks of misappropriation and misrepresentation of knowledge, heritage and cultural values that may be inadequately represented in datasets and AI models. This creates an important link between AI governance, cultural heritage, traditional knowledge and intellectual property protection.
Climate change and sustainable development form another major component of the Declaration. BRICS reaffirms its commitment to the UNFCCC and the Paris Agreement, including mitigation, adaptation, loss and damage, and means of implementation for developing countries.
The Declaration calls for greater access to climate finance, technology development and transfer, and capacity building. It also opposes unilateral, punitive or discriminatory measures that may operate as protectionist trade restrictions, including certain carbon border adjustment measures. Cooperation is encouraged in carbon markets, climate-resilient infrastructure, adaptation, renewable energy, energy efficiency and critical minerals.
From a legal and business perspective, one of the most notable aspects of the Declaration is its explicit recognition of the importance of cross-border commercial dispute resolution.
The Declaration supports stronger cooperation in justice-related matters and specifically recognises the importance of efficient and reliable dispute-resolution mechanisms in providing legal certainty, strengthening investor confidence and facilitating international trade and investment.
It further recognises the growing role of Alternative Dispute Resolution (ADR), including mediation and arbitration, as effective complements to formal judicial processes. BRICS encourages countries to advance ADR as an accessible and people-centred mechanism and supports capacity-building for relevant stakeholders.
CONCLUSION
The New Delhi Declaration provides a broad framework for cooperation that extends beyond traditional economic engagement to encompass trade and investment, resilient global supply chains, local-currency transactions, artificial intelligence, advanced technologies, intellectual property, competition law, standardisation, climate finance, energy transition and cross-border dispute resolution. These areas form interconnected elements of the broader BRICS cooperation agenda, reflecting an increasingly comprehensive approach to economic development, innovation and sustainable growth.
The Declaration also emphasises continuity within the BRICS framework, with members extending full support to China for the BRICS Chairship in 2027 and for hosting the 19th BRICS Summit in China. This transition is expected to provide further momentum to the cooperation initiatives and priorities identified under the New Delhi Declaration.
