{"id":24991,"date":"2026-09-11T07:42:36","date_gmt":"2026-09-11T01:57:36","guid":{"rendered":"https:\/\/eng.dragonmedia.com.np\/?p=24991"},"modified":"2026-09-11T07:42:36","modified_gmt":"2026-09-11T01:57:36","slug":"brics-2026-shared-development-in-a-multipolar-world-and-nepals-strategic-opportunity","status":"publish","type":"post","link":"https:\/\/eng.dragonmedia.com.np\/?p=24991","title":{"rendered":"BRICS 2026: Shared Development in a Multipolar World and Nepal\u2019s Strategic Opportunity<\/strong>"},"content":{"rendered":"

Prem Sagar Poudel<\/strong><\/p>\n

The global distribution of power is undergoing a profound rebalancing. Asia\u2019s economic rise, the growing influence of the Global South, the changing geography of technology and energy, and the pursuit of greater policy autonomy by developing countries are steadily reshaping the international system towards a more multipolar order. BRICS has emerged as one of the most important institutional expressions of this transformation. Its fundamental significance lies not in displacing an established centre of power, but in widening representation, expanding strategic choices, strengthening cooperation and creating greater space for shared decision making in global affairs.<\/p>\n

The 18th BRICS Summit, to be held in New Delhi on September 12 and 13, 2026 under India\u2019s chairship, therefore carries particular importance. Twenty years have passed since Brazil, Russia, India and China began formal coordination in 2006. The first leaders\u2019 summit was held in 2009, and after South Africa joined, the grouping acquired its present BRICS identity. Following successive rounds of expansion, BRICS now brings together 11 full members and 10 partner countries. According to official Indian assessments, its members account for nearly half of the world\u2019s population and around 40 percent of global GDP. This scale provides a substantial economic and diplomatic foundation for BRICS\u2019 growing international influence.<\/p>\n

India has placed resilience, innovation, cooperation and sustainability at the centre of its 2026 chairship. The agenda extends across energy, science, education, digital infrastructure, transport, trade, health, disaster risk reduction and youth cooperation. This breadth demonstrates that BRICS is no longer confined to an annual summit of political leaders. It is evolving into a wider framework that connects political dialogue with development, finance, technology and issues directly affecting citizens.<\/p>\n

One of BRICS\u2019 greatest strengths is its diversity. Countries with different political systems, economic structures, security perspectives and national priorities are working within the same framework on development, equitable representation, energy security, financial alternatives, technology, trade and reform of global governance. The ability to identify common interests amid such diversity is not a weakness. It is one of the grouping\u2019s defining strengths. In this sense, BRICS is not merely another rigid geopolitical pole. It is an expanding platform for dialogue and cooperation among different centres of power and different civilisational traditions.<\/p>\n

Multipolarity should not mean replacing one form of dominance with another. It should mean providing countries with greater choice in development, finance, technology and international partnerships. If BRICS can continue translating the principles of mutual respect, sovereign equality, the right to development and cooperation based on shared interests into practical mechanisms, it can contribute meaningfully to a more inclusive and representative global order.<\/p>\n

Reform of global governance is therefore one of BRICS\u2019 most important agendas. Institutions such as the United Nations, the International Monetary Fund and the World Bank were created under a distribution of economic and demographic power very different from that of today. A growing share of global production, trade and economic growth has shifted towards Asia and the developing world. Demands for stronger representation and greater decision making space for developing countries are therefore natural. BRICS has strengthened the call for contemporary global realities to be reflected more accurately in international governance.<\/p>\n

Russia occupies a particularly important place in this process. Its strength in energy, nuclear technology, natural resources, science, industrial capacity and its strategic position across Eurasia make it one of the central pillars of BRICS. Russia\u2019s long standing emphasis on multipolarity, sovereignty and independent national decision making is closely aligned with the broader political philosophy associated with the grouping. Its experience in expanding alternative trade, payment and economic relationships under extensive Western sanctions has also made Russia an important actor in discussions on financial diversification within BRICS.<\/p>\n

Iran\u2019s membership has further expanded the grouping\u2019s energy and geoeconomic significance. Its vast oil and natural gas resources, strategic location linking the Persian Gulf, Central Asia and South Asia, and its experience in sustaining trade and financial connectivity under external sanctions give Iran a distinctive role. Iran also connects BRICS more directly to West Asian energy security, transport corridors and alternative economic routes. The presence of China, India, Russia, Iran and major Gulf economies within the same framework strengthens the grouping\u2019s long term strategic potential.<\/p>\n

Financial diversification is another concrete BRICS priority. Expanding trade in national currencies, cross border payment systems and digital financial connectivity should not necessarily be understood as an attempt to immediately replace any single global currency. The deeper significance lies in providing countries with additional channels for trade and finance. A wider range of options can lower transaction costs, diversify risk and strengthen the economic decision making capacity of developing countries.<\/p>\n

The New Development Bank is one of the most tangible institutional achievements associated with this process. By 2026, the bank had approved financing of around 44 billion US dollars for 141 projects, with approximately 25 billion dollars disbursed. Its principal areas include energy, transport, water, environmental, social and digital infrastructure. Importantly, membership in the bank is not restricted exclusively to full BRICS members. This gives BRICS development finance a reach beyond the political membership of the grouping itself.<\/p>\n

For Nepal, the New Development Bank could become an important additional opportunity. It should not be viewed as a replacement for the World Bank, the Asian Development Bank or the Asian Infrastructure Investment Bank. Nepal\u2019s interest lies in expanding its financing choices. Cooperation could be explored in hydropower, transmission systems, energy storage, transport, digital infrastructure, water supply and climate resilient development. Wider access to development finance would allow Nepal to choose appropriate sources according to interest costs, loan maturity, currency exposure and implementation requirements.<\/p>\n

Yet opportunities can only be converted into national gains if Nepal strengthens its own institutional capacity. Preparing bankable projects, establishing economic viability, conducting credible cost benefit analysis, assessing debt risks, negotiating effectively and delivering projects on time are essential capabilities. BRICS can open new doors, but Nepal itself must possess the institutional strength to walk through them successfully.<\/p>\n

Nepal should now establish a clear national strategy aimed at securing full BRICS membership at the earliest feasible opportunity. While expanding cooperation in development finance, clean energy, agricultural technology, education, research, tourism, the digital economy and disaster management, Kathmandu should intensify diplomatic engagement in support of eventual full membership. Partner country status could serve as a useful stage in that process, but it need not become the final objective. Full membership could expand Nepal\u2019s economic options, diplomatic reach and participation in debates on global governance.<\/p>\n

A particularly favourable aspect for Nepal is that both China and India are leading BRICS powers and Nepal\u2019s immediate neighbours. Alongside them are Russia, a long standing friend of Nepal, energy rich Iran, Saudi Arabia and the United Arab Emirates, as well as other emerging economies from Asia and Africa. BRICS membership should therefore not be interpreted as Nepal aligning itself with any single power centre. Rather, it could become a natural extension of Nepal\u2019s multidirectional foreign policy, non aligned tradition and independent diplomatic identity in an increasingly multipolar world.<\/p>\n

Himalayan disaster security could become one of Nepal\u2019s most original contributions to the BRICS agenda. The grouping has increasingly emphasised multi hazard early warning systems, disaster financing, resilient infrastructure and the application of science and technology to disaster risk reduction. Avalanches, glacial hazards, flash floods, extreme rainfall and sudden changes in river systems do not remain confined within national borders. Nepal, China and India are part of the same Himalayan ecological system.<\/p>\n

Nepal could therefore propose stronger regional cooperation in satellite information, meteorological and hydrological data, early warning systems, scientific research, search and rescue technology and disaster resilient infrastructure. Such an initiative could position Nepal not merely as a recipient of humanitarian assistance, but as an active policy contributor offering practical solutions in Himalayan security and climate diplomacy.<\/p>\n

Energy is another area in which BRICS offers substantial possibilities for Nepal. Nepal\u2019s clean hydropower potential, its expanding electricity trade with India, China\u2019s capabilities in infrastructure and green technology, Russia\u2019s energy and technological experience, the expertise of Iran and Gulf countries in the energy sector, and the capital available across other BRICS members could create new combinations of cooperation. Nepal\u2019s energy strategy should move beyond electricity generation alone and incorporate transmission, storage, regional markets and industrial utilisation.<\/p>\n

Tourism, labour, education and skills development are equally important areas of direct national benefit. India and China represent enormous tourism markets for Nepal. Saudi Arabia and the United Arab Emirates are major destinations for Nepali workers. Russia and other BRICS members offer opportunities in science, health, agriculture, higher education and technical training. BRICS engagement will acquire its fullest national meaning when high level diplomacy translates into employment, skills, knowledge, investment and market access for ordinary citizens.<\/p>\n

BRICS should neither be exaggerated nor underestimated. Its importance does not depend on replacing the existing international order overnight. A grouping of 11 countries representing nearly half of the world\u2019s population and around 40 percent of global GDP already possesses the potential to exercise considerable influence in development finance, energy, trade, technology and global governance. Its deeper strength lies in expanding South South cooperation, broadening financial choices, widening technological partnerships and giving developing countries a stronger institutional voice.<\/p>\n

For Nepal, BRICS is therefore no longer merely a subject for academic observation. It represents an active diplomatic opportunity. Nepal\u2019s geographical proximity to China and India, its friendly relations with Russia, the potential for deeper energy and economic cooperation with Iran and the Gulf states, and its natural place within the Global South together provide a strong strategic rationale for seeking membership. Nepal should expand cooperation with the New Development Bank, advance Himalayan disaster security, and deepen engagement in clean energy, the digital economy, education, labour, tourism and trade while pursuing full membership through sustained and carefully coordinated diplomacy.<\/p>\n

The positive message of BRICS is ultimately clear. Global prosperity should not remain the privilege of a few nations; it should become a shared opportunity. Development should not be confined to a single pathway when multiple choices are possible. Representation, responsibility and opportunity should be shared more fairly alongside power in the international system.<\/p>\n

If the 18th BRICS Summit in New Delhi can translate these principles into practical cooperation, BRICS can become an increasingly important foundation for shared development, sovereign equality and a more inclusive global order. Nepal should not remain a distant observer of this historic transformation. The time has come for Kathmandu to demonstrate the diplomatic foresight and strategic confidence necessary to secure a respected place for Nepal within BRICS.<\/p>\n

About the Author: Prem Sagar Poudel is a senior journalist and international relations analyst from Nepal. He has conducted in-depth studies on Nepal-China relations, the geopolitics of the Himalayan region, and Asian security issues.<\/em><\/p>\n

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