China Ready to Deepen BRICS Cooperation, Backs India's 2026 Chairship

In a post on X, Xu Feihong wrote, "China stands ready to work with other parties to promote high-quality development of greater BRICS cooperation, and make new contributions to an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization."

The repost was made after External Affairs Minister S Jaishankar earlier in the day emphasised the need for more inclusive and representative international institutions and urged BRICS to commit to a reformed multilateral system that reflects current global realities.

Speaking at the launch of the BRICS 2026 logo, Jaishankar said the world is navigating multiple complex challenges, making the demand for a reinvigorated, inclusive, and effective multilateral order more urgent than ever.

"At a time when the world is also navigating multiple complex challenges, the call for a reinvigorated, inclusive, and effective multilateral order has never been more urgent. BRICS must commit to a reformed multilateralism that reflects contemporary realities, one where institutions like the United Nations, the WTO, IMF, and the World Bank are representative and inclusive," he said.

Highlighting the role of BRICS in global economic cooperation, Jaishankar said the New Development Bank (NDB), founded by BRICS countries, has emerged as an important instrument promoting infrastructure development and sustainable growth among its members.

He said India remains committed to supporting efforts to further strengthen the bank as a credible, responsible, and financially sustainable institution.

Jaishankar also underlined the importance of people-to-people exchanges as a core component of BRICS cooperation, particularly during India's chairship.

"India remains committed to supporting activities and efforts to further strengthen the bank as a credible, responsible, and financially sustainable institution. People-to-people exchanges will always remain an essential component of BRICS and especially of our chairship, with continued emphasis on youth, culture, education, sports, tourism, and academic interactions," the EAM stated.

Reiterating India's approach to the grouping, Jaishankar said New Delhi views BRICS as a constructive platform for dialogue and development that complements the broader multilateral system.

"BRICS is guided by the principles of mutual respect, sovereign equality, and consensus," he said, adding that India will strive to make its chairship inclusive, practical, people-centred, and outcome-orientated.

He expressed confidence in continued cooperation, saying he looked forward to the support of all BRICS member states, partner countries, and other stakeholders as India prepares to assume the BRICS Chairship in 2026.

"I look forward to the cooperation and support of all BRICS members, partner countries, and other stakeholders as we work towards and together during India's Chairship," the EAM said.

The acronym BRIC was first coined in 2001 by Goldman Sachs in their Global Economics Paper, "The World Needs Better Economic BRICs", based on analyses projecting that Brazil, Russia, India, and China would individually and collectively occupy a larger share of the global economy and become among the world's largest economies over the following decades.

In 2010, it was agreed to expand BRIC to BRICS, with South Africa joining at the 3rd BRICS Summit in Sanya in 2011.

The grouping expanded further in 2024, with Egypt, Ethiopia, Iran, and the UAE becoming full members on January 1, 2024.

Indonesia joined as a full member in January 2025, while Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan were inducted as partner countries of BRICS.

- ANI