This article details the quarter-century journey of BRICS, from its inception as an economic acronym by a Goldman Sachs economist to its current status as an expanded eleven-member international bloc. It highlights its growth, key historical moments, and the significance of its upcoming summit, particularly with Iran's renewed importance in discussions.
Ruling TVK legislators are advocating for Tamil Nadu Chief Minister C Joseph Vijay as their Prime Ministerial candidate for the 2029 Lok Sabha polls, a move dismissed by the Congress party which insists on Rahul Gandhi as their choice. This internal conflict within the alliance highlights a growing divide over national political ambitions.
Some constituents of the alliance have raised concern that the panels, particularly the 14-member coordination committee, are at risk of becoming ineffective, as their decisions have so far not been acted upon.
India's total goods trade with BRICS nations more than doubled from FY21 to FY26, reaching USD 417.5 billion, but a significant surge in imports, particularly from China and Russia, has caused India's trade deficit with the bloc to more than triple, reaching USD 226.1 billion.
Left parties have strongly condemned the government's decision to impose charges on UPI payments exceeding Rs 2,000, with CPI General Secretary D Raja alleging the move was made under "US pressure" to favour foreign payment companies. Both CPI and All India Forward Bloc demand the withdrawal of this "anti-people decision," arguing it burdens consumers and merchants while undermining UPI's role as a public digital infrastructure. They highlight concerns that the charges weaken India's digital sovereignty and serve commercial interests of foreign corporations like Visa and Mastercard.
Shiv Sena (UBT) leader Sanjay Raut has stated that his party wants to go solo in the upcoming local body elections to strengthen its base. This statement has raised questions about the unity of the opposition INDIA bloc and the Maha Vikas Aghadi (MVA), which includes Shiv Sena (UBT), Congress, and NCP (SP). Raut clarified that the party has not called for the dissolution of either bloc and that the local body elections are an opportunity to empower party workers at the grassroots level. He also criticized Congress leaders for reacting to his comments without hearing the full context.
Jammu and Kashmir Chief Minister Omar Abdullah has expressed concerns about the Congress party's leadership role within the INDIA bloc, raising questions about their ability to justify their position. Abdullah highlighted a sense of disquiet among some allies, who feel the Congress isn't doing enough to earn its leadership position. While praising Sonia Gandhi's leadership, he also criticized the alliance's lack of consistent engagement and called for more structured communication to address potential disagreements. Abdullah's comments suggest underlying tensions within the opposition alliance, particularly regarding the Congress's electoral performance and seat distribution strategies.
The BJP has accused the Congress and its INDIA bloc allies of deliberately disrupting the Monsoon Session of Parliament, alleging that their conduct has prevented discussions on key Bills and exposed the Opposition's 'double standards' on issues such as paper leaks and student protests.
Amid renewed speculation about political realignments and a potential merger, senior leaders from two Nationalist Congress Party (NCP) factions met Maharashtra Chief Minister Devendra Fadnavis. NCP (SP) working president Supriya Sule clarified her party's position on the proposed Delimitation Bill, stating that while a uniform 50 per cent increase in seats across states would be hard to oppose, any final decision would be made after discussions within the INDIA bloc.
Tensions have emerged within Jammu and Kashmir's ruling alliance between the National Conference and Congress over the full rendition of Vande Mataram at an official state event. While the NC defends it as a "statutory obligation," the Congress expresses strong disapproval, citing historical resolutions and the need to respect India's pluralistic ethos.
The Sena-UBT pointed out that the Congress only spoke about itself in the Ahmedabad meet, and INDIA or Bharat was nowhere in the discussion.
With nominations for the first phase of Bihar elections closing soon, the INDIA bloc is struggling to finalize seat sharing, while the NDA has announced its candidates. Key political figures are actively campaigning.
BRICS finance ministers and central bank governors have called for increased representation of emerging-market and developing economies in the IMF and World Bank, while also criticising unilateral tariffs and trade measures, as the expanded bloc aims to bolster financial cooperation amidst global fragmentation.
The Congress party has issued a whip to its MPs in both the Rajya Sabha and Lok Sabha, mandating their presence from August 10-12 for discussions on "very important" issues. This directive comes amidst reports of potential debates on the Foreign Contribution (Regulation) Amendment Bill, 2026, and a Constitution Amendment Bill concerning delimitation, though the government's official business list did not explicitly mention these.
Congress leader Jairam Ramesh said there are some parties that have expressed their inability to attend this particular meeting for their own reasons.
The DMK has been charting an independent course from the Congress-led Opposition bloc on contentious issues during the Monsoon Session, including not joining a walkout over the anti-paper leak bill and participating in a debate on the National Honour Bill, signalling growing fault lines within the Opposition.
In recent years, China and Russia have pushed for de-dollarisation within BRICS, which India has resisted. One reason is that India does not want to hurt its relationship with the United States, and another is the fear of China controlling trade because the renminbi is considered the strongest currency in the bloc today.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
Akhilesh said the alliance's decision was not informed by any seat-sharing math but its pursuit of victory.
Iranian President Masoud Pezeshkian declared that Iran will not succumb to "bullying" from the US and Israel, vowing to protect national interests amidst escalating West Asian hostilities. During his visit to New Delhi for the BRICS summit, Pezeshkian also discussed strengthening bilateral ties with Prime Minister Narendra Modi and advocated for local currencies in BRICS trade, positioning Iran as a strategic energy and transport partner.
Aaditya Thackeray has vehemently condemned six rebel MPs, asserting that their "greed" led them to betray the voters' mandate for the INDIA bloc.
Former Supreme Court judge B Sudhershan Reddy is the joint candidate of the Opposition parties for the Vice-Presidential polls, Congress President Mallikarjun Kharge announced.
TMC supremo Mamata Banerjee has urged the Congress and CPI(M) to set aside their differences and unite under the INDIA bloc to fight the BJP in West Bengal. This marks a significant shift in the TMC's stance, which has historically been a bitter rival to the Congress and Left in the state.
The Trinamool Congress (TMC) has dismissed "baseless" rumours of a possible merger with the Congress, despite recent meetings between TMC supremo Mamata Banerjee and Congress leaders Sonia Gandhi and Rahul Gandhi, which occurred amidst significant internal rebellion within the TMC following its recent electoral defeat in West Bengal.
Prime Minister Narendra Modi has called upon citizens to celebrate Independence Day with honour and pride, urging them to take a pledge for a developed India. This appeal comes amidst parliamentary sessions marked by protests from both ruling and opposition alliances.
The BRICS New Delhi Declaration condemned the April 2025 terror attack in Pahalgam, Jammu and Kashmir, advocating for zero tolerance towards state-sponsored cross-border terrorism. The declaration also addressed global terror, illegal financial flows, cyber fraud, and emphasised accountability for those involved in terror activities.
The opposition INDIA bloc is considering submitting a notice to move a resolution to remove Rajya Sabha Chairman Jagdeep Dhankhar from office, sources said. The opposition had previously considered this in August but decided to give Dhankhar "another chance." The Congress is leading the charge, and the TMC and the Samajwadi Party are supportive. The decision comes after a contentious session in Rajya Sabha where BJP members protested alleged links between Congress leaders and George Soros.
BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
The Trinamool Congress has submitted new names and symbols to the Election Commission for the upcoming West Bengal bypolls, following an interim order that temporarily barred the party from using its original name and "flowers and grass" symbol due to an ongoing internal dispute and split. The party submitted its choices under protest.
Iranian President Masoud Pezeshkian arrived in New Delhi for the BRICS summit, where he is scheduled to hold bilateral talks with Prime Minister Narendra Modi to enhance trade and strengthen overall relations. His visit is particularly significant given the heightened tensions in West Asia and recent US economic sanctions against Iran. Pezeshkian highlighted BRICS' role in fostering economic resilience and reducing dependence on the US dollar, while the summit itself aims to address global challenges and bolster collective resilience in critical sectors.
Sources in AAP claimed that the party was contacted by the Shiv Sena-UBT and the NCP-SP for campaigning by Kejriwal in Maharashtra.
The Trinamool Congress (TMC) is facing a deepening internal crisis marked by fresh resignations and an escalating rebellion, even as its national general secretary Abhishek Banerjee met Congress leader Rahul Gandhi to discuss opposition coordination and the future of the INDIA bloc.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
Bharatiya Janata Party leaders and seers have filed police complaints and FIRs against Rahul Gandhi, Pappu Yadav, and Awadhesh Prasad for a skit performed in Parliament, alleging it mocked Sanatan culture and ridiculed Indian traditions concerning Ram Temple donations.
Former West Bengal Chief Minister Mamata Banerjee has filed a plea in the Supreme Court challenging the Election Commission's interim decision to freeze the Trinamool Congress' name and party symbol. The EC had allotted separate names and symbols to two rival TMC factions ahead of upcoming bypolls, a move Banerjee has strongly criticised as a "black day" for democracy.
Tamil Nadu's ruling TVK and its post-poll allies have officially named their front the "Secular Social Justice Victory" alliance, with Chief Minister C Joseph Vijay elected as its leader. The alliance, which includes Congress, VCK, and IUML, is preparing for upcoming bypolls on October 6, which will serve as an initial test of its strength. Leaders emphasised the alliance's ideological foundation rooted in secularism and social justice, aiming to protect constitutional values and oppose communal forces.
Chinese President Xi Jinping addressed the BRICS summit, urging the bloc to play a significant role in achieving peace and tranquillity in West Asia and the Gulf region. He highlighted BRICS' growth over two decades, its efforts in tackling global challenges, and its steadfastness in safeguarding the interests of the Global South. Xi called for opposing the Cold War mentality, strengthening multilateralism, and promoting cooperation in emerging domains like AI, as China prepares to chair the next summit.
India-EU FTA opens a bigger European market for Indian carmakers while giving European brands greater access to India.
The Election Commission has allotted the 'Football Player' symbol to the Mamata Banerjee-led faction of the Trinamool Congress for the upcoming West Bengal bypolls, while the rival Arup Roy-led group will contest with the 'Envelope' symbol.
A delegation of NCP (SP) Lok Sabha MPs, led by Supriya Sule, met Prime Minister Narendra Modi to discuss various issues concerning Maharashtra, including drought, onion prices, and river pollution. The meeting, which lasted about 15 minutes, did not include discussions on the FCRA Amendments Bill, which Sule opposes. This follows a previous meeting between Sharad Pawar, Sule, and the PM regarding student and farmer issues.
