India’s BRICS Presidency Forges Stronger Economic Links with Gulf States

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An India Foundation commentary published in February 2026 has highlighted how India’s assumption of the BRICS presidency on January 1 has enabled the country to act as a bridge builder between the Global South and developed economies, with significant implications for relations with the Gulf. Author Ashok Sajjanhar noted that India hit the ground running following Prime Minister Narendra Modi’s address at the 2025 Rio de Janeiro summit where he proposed redefining BRICS as Building Resilience and Innovation for Cooperation and Sustainability. The paper emphasised a people-centric approach drawing from India’s prior G20 leadership that prioritised the Global South.

External Affairs Minister S Jaishankar, speaking at the unveiling of the BRICS presidency logo in January 2026, stated that just as festivals convey hope and goodwill, India’s BRICS Chairship will seek to bring together the potential of BRICS countries for the greater global welfare. This leadership comes as the grouping includes new members from the Gulf such as the United Arab Emirates and Iran, creating platforms for direct engagement on energy security and economic diversification. A separate study published by Frontiers in Political Science in September 2026 found that India pursues strategic hedging by maintaining BRICS participation alongside partnerships with Gulf states through agreements like the India-UAE Comprehensive Economic Partnership Agreement.

The India-Middle East-Europe Economic Corridor, involving India, the UAE and Saudi Arabia, has gained prominence as a Western-backed project that complements BRICS efforts, the Frontiers assessment indicated. In June 2026, the UAE delegation at the BRICS Energy Ministers’ Meeting in India, led by Sharif Al Olama, showcased the country’s National Hydrogen Strategy 2050 and cooperation on AI and smart grids. Economy Middle East reported that the meeting focused on expanding collaboration in hydrogen, digital infrastructure and low-emission technologies under India’s presidency.

Bilateral strategic ties have also advanced, with India and Saudi Arabia agreeing to a $100 billion partnership in 2025 that includes $10 billion for AI and space technologies, a Gulf International Forum review from May 2025 stated. This builds on the IMEC initiative linking India to Europe via the Gulf, offering transcontinental trade routes. The Forum noted that Saudi Arabia is fostering ties with multiple powers as part of its balanced neutrality, including potential BRICS membership benefits.

During a BRICS national security advisers meeting in New Delhi in June 2026, discussions touched on regional issues, with India’s Ajit Doval emphasising the group’s role in advancing economic interests and the voice of the Global South. Firstpost reported that the meeting may have facilitated side talks between Indian and Iranian officials ahead of Saudi Arabia’s planned reconciliation summit. The expanded BRICS has provided a forum for Gulf members to pursue multipolar engagement without aligning against any single power.

Commerce and Industry Minister Piyush Goyal said on September 2 that India plans to finalize free trade agreements with the GCC and Israel as soon as conditions in the region stabilize, Bloomberg reported. The India Foundation paper concluded that as of 2026, India finds itself at a unique geopolitical crossroads, positioned as the primary link between the established Western order and rising powers of the Global South. BRICS under Indian leadership has conducted over 100 meetings across 60 cities to advance its agenda, an Indian Express column from August 2026 observed.

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Industry Gulf NewsDesk is the desk responsible for Industry Gulf's daily news coverage, monitoring and reporting developments across the Gulf from official sources, including national news agencies and government communications. Its focus is accurate, timely and factual coverage of the region.