Breaking: BRICS Summit Sees Leaders Push 5 Key Initiatives

BRICS Summit 2026: Modi, Putin & Xi Call for Unity Against Geopolitical Tensions and Weaponisation of Technology

BRICS Summit: Leaders Unite to Counter Rising Geopolitical Tensions and Drive Global South Growth

Prime Minister Narendra Modi on Sunday warned that increasing geopolitical tensions are adversely impacting ordinary lives across the world and called on BRICS nations to unite in addressing these challenges while driving inclusive growth, especially across the Global South.

Speaking at the concluding session of the 18th BRICS Summit in the presence of Chinese President Xi Jinping, Russian President Vladimir Putin, Iranian President Masoud Pezeshkian, Malaysian Prime Minister Anwar Ibrahim and Indonesian President Prabowo Subianto, Modi highlighted serious concerns over the “weaponisation of technology and critical minerals.” He cautioned that such trends could hinder shared progress and prosperity.

“Under India’s presidency, we have focused our efforts on four pillars: resilience, innovation, cooperation, and sustainability. I am pleased that, with your cooperation and support, we have been able to transform our shared vision into a win-win situation,” the Prime Minister said.

Putin Proposes New Economic Shields for BRICS and Global South

Russian President Vladimir Putin urged BRICS members to adopt new economic instruments, including a proposed insurance mechanism and a joint grain market. He framed these as practical responses to “crippling” sanctions imposed by the G7, EU and UK linked to the Ukraine conflict.

Putin specifically referenced recent Western restrictions on maritime insurance for Russian crude, which have disrupted energy exports and exposed the leverage of Western financial systems over global commodity flows.

“We have independent routes for moving capital, labour and technologies. In fact, we can operate regardless of outside pressure,” Putin stated. “We have some promising initiatives going forward, such as creating an insurance mechanism and a grain market. These are Russian proposals, and we invite all other member states to make use of those.”

He praised the New Development Bank (NDB), which oversees projects worth about USD 140 billion, and called for a holistic approach that tackles both symptoms and root causes of global challenges. Putin noted that the global stature of BRICS continues to rise as the grouping charts an independent course guided by international law and the UN Charter.

Xi Jinping Unveils Five-Point Initiative for Stronger BRICS Cooperation

Chinese President Xi Jinping proposed a five-point initiative aimed at boosting trade, manufacturing, investment and technology cooperation. He asserted that BRICS should leverage its close ties with emerging markets and the Global South to safeguard supply chains and foster a large integrated market.

Xi called on leaders to write a “new chapter of strength through unity for the Global South” and rejected the outdated logic that “might makes right.”

“A world without rules is like a crossroads without traffic lights, where chaos and disorder are all but guaranteed. Fairness and justice is a universal aspiration, and international rules must be written by all countries,” Xi said. He urged Global South countries to defend the rule of law, uphold sovereign equality, non-interference and peaceful settlement of disputes, and reject double standards.

Xi’s five-point initiative includes:

1. Establishing an inclusive artificial intelligence framework and a BRICS-AI open-source community.
2. Facilitating trade and investment through a BRICS special economic zone partnership.
3. Deepening digital industry ties via a BRICS digital ecosystem cloud platform.
4. Advancing “intelligent manufacturing” by helping build smart factories and standards.
5. Launching a joint science and technology development initiative, including a BRICS engineer cultivation alliance and youth exchange programme.

He also called for reform of the international financial architecture to increase the representation of developing countries and for stronger multilateralism centred on the United Nations.

The expanded BRICS grouping, which now includes new members and partners beyond the original Brazil, Russia, India, China and South Africa, continues to position itself as a major voice for the Global South, representing a substantial share of world population, trade and GDP. Leaders emphasised collective problem-solving, independent economic pathways and inclusive growth as the path forward amid rising global uncertainties.