India advances trade and investment agenda at BRICS Summit 2026.
India concluded its year-long BRICS chairship with the adoption of the New Delhi Declaration at the 18th BRICS Summit, held in New Delhi on 12 and 13 September 2026. Leaders from Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the United Arab Emirates endorsed a declaration covering economic resilience, trade facilitation, technology cooperation and sustainable development.
Over 400 meetings and engagements took place across 30 Indian cities during India’s chairship, bringing together ministers, officials and business representatives. Several outcomes from the summit carry practical relevance for companies with trade, investment or market entry interests in India and other BRICS markets.
BRICS Economic Partnership 2030 progress
One of the most significant outcomes of India’s chairship was progress on the Strategy for BRICS Economic Partnership 2030, an overarching framework guiding cooperation through sectoral strategies, programmes and roadmaps. The New Delhi Declaration commends India for its leadership in steering this progress during 2026. The initiatives that follow sit within this broader framework.
New Investment Platform discussions
BRICS members continued work on the New Investment Platform, building on guidelines developed under Brazil’s earlier chairship. During India’s chairship, members held constructive discussions on establishing a dedicated study group under the BRICS Finance Track, with the work described as consensus based and phased, respecting existing national regulatory frameworks. The platform remains at a technical discussion stage, with no operational mechanism yet launched.
GIFT City insurance cooperation proposal
India put forward a proposal to host a BRICS Risk Lab at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre in Gujarat, positioned within a broader concept for a BRICS Insurance Resilience Centre. BRICS members expressed interest in taking the discussions forward, alongside talks on expanding reinsurance capacity through voluntary participation by regulators and reinsurers. The proposal remains under discussion rather than agreed, though it points to a possible future role for GIFT City in cross-border financial services cooperation.
MSME trade finance access
The declaration identifies limited access to affordable finance as a significant constraint on MSMEs participating in international trade. BRICS members welcomed guiding principles for credit assessment frameworks aimed at export orientated MSMEs, intended to close information gaps and improve access to formal finance.
Members also welcomed the Jaipur Consensus, under which BRICS will study an invoice discounting mechanism to help MSMEs unlock working capital tied up in unpaid invoices. Both initiatives remain at a principle or study stage.
Customs cooperation agreement
BRICS customs authorities reached convergence on an agreement covering cooperation and mutual administrative assistance in customs matters, with members indicating readiness to sign once national processes are completed.
Members also agreed to strengthen Authorised Economic Operator programmes and conduct further joint customs enforcement operations against cross-border smuggling. The practical effect will depend on how quickly individual states complete their domestic procedures.
Intra-BRICS trade and business engagement priorities
India’s Commerce and Industry Minister Piyush Goyal called for deeper and more balanced intra-BRICS trade, including simplifying regulatory procedures, strengthening payment system linkages and encouraging greater use of local currencies. Priority sectors identified include pharmaceuticals, engineering, electronics, automobiles, services, startups and emerging technologies.
The declaration also welcomed the work of the BRICS Business Council, whose recommendations focus on trade and investment, resilient supply chains and business-to-business engagement. The summit additionally advanced discussions on cross-border payments.
What businesses should watch next
Several initiatives in the New Delhi Declaration remain at an early or proposal stage, and their impact will depend on further technical work, national approvals and implementation timelines ahead. Companies in financial services should track the New Investment Platform and GIFT City Risk Lab proposal, while those in manufacturing and priority sectors may benefit as BRICS cooperation deepens. MSMEs stand to gain from progress on credit assessment and invoice discounting, and businesses in customs intensive supply chains should monitor the agreement’s signing and implementation.
For companies considering India as a market, manufacturing base, sourcing hub or regional operating centre, these opportunities need to be assessed alongside India’s regulatory environment, including FDI rules, foreign exchange regulations under the Foreign Exchange Management Act (FEMA), tax, corporate and employment law, and ongoing compliance requirements. Those assessing their India market entry or trade strategy more broadly may wish to consult a market entry specialist on how this framework intersects with their plans.
