2012, 2016, 2021: India’s Three Brics Summits and What Changed

India has hosted the Brics summit three times since the grouping was formed, in 2012, 2016 and 2021.

Each time, New Delhi used the presidency to push issues that reflected the changing priorities of the bloc, helping expand Brics from an economic grouping into a wider diplomatic and financial platform.

2012: New Delhi puts financial reform on the agenda

India hosted the fourth Brics summit in New Delhi in 2012 under the theme “Brics Partnership for Global Stability, Security and Prosperity”.

The summit came as the global economy was still recovering from the 2008 financial crisis, while the European debt crisis was putting further pressure on the international financial system.

A key outcome was India's proposal for a new multilateral development bank. Brics leaders agreed to ask their finance ministers to examine the idea of creating a South-South development bank. The proposal eventually led to the establishment of the New Development Bank (NDB) in 2014, headquartered in Shanghai.

The five countries also signed an agreement to extend credit facilities in their local currencies. The move was aimed at reducing reliance on the US dollar in trade between Brics members.

The summit's Delhi Declaration also called for reforms to the International Monetary Fund and World Bank, particularly changes to voting quotas that would give developing countries greater representation in global financial institutions.

2016: Goa summit brings security into focus

India hosted the eighth Brics summit in Goa in 2016 under the theme “Building Responsive, Inclusive and Collective Solutions”.

By then, the bloc's agenda had expanded beyond economic cooperation. India placed counter-terrorism and international security high on the agenda, particularly following the September 2016 terror attack in Uri.

The Goa Declaration condemned terrorism in all its forms and called for faster progress towards the proposed UN Comprehensive Convention on International Terrorism.

The summit also marked progress on Brics' financial mechanisms. Leaders noted the operationalisation of the $100-billion New Development Bank and the Contingent Reserve Arrangement, designed to provide financial support to members facing external liquidity pressures.

India also used the summit to deepen its engagement with other regional groupings. Leaders of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) were invited to a separate outreach summit in Goa, linking Brics discussions with India's wider regional connectivity and economic priorities.

2021: Brics adapts to the pandemic

India hosted the 13th Brics summit virtually in 2021 as the Covid-19 pandemic continued to disrupt global travel and economies.

Held under the theme “Brics@15: Intra-Brics Cooperation for Continuity, Consolidation and Consensus”, the summit marked 15 years of the grouping.

Healthcare and pandemic cooperation featured prominently. Brics leaders supported greater cooperation on vaccine research, development and access. The Brics Vaccine R&D Centre was also launched to strengthen collaboration on vaccines and help improve preparedness for future health emergencies.

The summit also adopted the Brics Counter-Terrorism Action Plan, aimed at putting the group's counter-terrorism strategy into practice through greater cooperation, information-sharing and capacity building.

Afghanistan was another major issue. The Taliban had returned to power in August 2021, and Brics leaders called for an inclusive political settlement while stressing that Afghan territory should not be used to threaten or launch attacks against other countries.

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