India in BRICS+: Power, Policy, and Multilateralism

Registration ID: IJNRD_328866

Published ID: IJNRD2610050

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R. Durai, S. Gnanasaranya, V. Kaveri, M. S. Fathima Begam, Sruthi Mohan , S. Ramaswamy

India, BRICS+, Strategic Autonomy, Reformed Multilateralism, New Development Bank, Contingent Reserve Arrangement, De-Dollarisation, Special Rupee Vostro Account, Line of Actual Control.

This paper investigates the multifaceted strategic, institutional, and geoeconomic imperatives governing the Republic of India’s participation in the BRICS coalition across its foundational and expanded BRICS+ (The BRICS+ bloc comprises founding nations Brazil (2006), Russia (2006), India (2006), and China (2006), which were joined by South Africa (2010), followed by the official expansion into BRICS+ that added Egypt (2024), Ethiopia (2024), Iran (2024), the United Arab Emirates (2024), and subsequently Indonesia (2025), alongside Saudi Arabia, which was invited to join in 2024 and participates actively across bloc meetings and working groups) configurations. Operating at the confluence of an extensive domestic industrial modernisation mandate and systemic geopolitical transformations toward an authentically polycentric international architecture, New Delhi’s multilateral diplomacy serves as an instrument for advancing its core doctrines of strategic autonomy and issue-based multi-alignment. At the heart of this inquiry is an evaluation of the structural divergence among member states: while some partners seek to instrumentalise the platform as an anti-Western counter-hegemonic vanguard intent on subverting established global regimes, India champions a reformist posture encapsulated in its diplomatic axiom of being non-Western rather than anti-Western. Institutionally, the paper examines how New Delhi secured strict voting parity and sovereign equality within the New Development Bank (NDB) to preempt asymmetric capital dominance, while contextualising the structural limitations of the Contingent Reserve Arrangement (CRA), notably its operational tether to International Monetary Fund (IMF) conditionalities. In the monetary domain, the paper applies Optimal Currency Area theory and the Mundell-Fleming Trilemma to demystify the rhetoric of collective de-dollarisation, demonstrating that structural macroeconomic divergences and capital account restrictions render a common BRICS synthetic currency unviable. Consequently, India prioritises bilateral local-currency invoicing mechanisms—such as the Special Rupee Vostro Account (SRVA) framework and cross-border digital payment interoperability—to hedge against extraterritorial sanction risks whilst resisting third-party currency dominance and preserving domestic monetary independence. Furthermore, the investigation examines intra-bloc tensions triggered by military confrontations along the disputed Line of Actual Control, detailing India's deployment of defensive economic statecraft, including foreign investment screenings and digital infrastructure firewalls, alongside institutional realism to check unilateral territorial revisionism without abandoning the multilateral forum. Extending to institutional widening, the article evaluates the accession of critical Middle Eastern and African states into BRICS+, revealing how Indian diplomacy established objective admission criteria to prevent bloc dilution whilst leveraging complementary initiatives—most notably the historic induction of the African Union into the G20 during New Delhi’s presidency—to substantiate its leadership as an authentic Voice of the Global South. Synthesising India's continental diplomatic engagements across Eurasia with its maritime commitments inside the Quadrilateral Security Dialogue alongside democratic partners, the treatise concludes that New Delhi’s dual-track external strategy does not represent an unsustainable contradiction, but rather a calculated grand strategy that balances continental security with maritime deterrence, positioning India as an indispensable, autonomous pole shaping the norms, rules, and institutions of a fragmented global order.

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R. Durai, S. Gnanasaranya, V. Kaveri, M. S. Fathima Begam, & Sruthi Mohan , S. Ramaswamy (October-2026). India in BRICS+: Power, Policy, and Multilateralism. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 11(10), a451-a466. https://ijnrd.org/papers/IJNRD2610050.pdf

Volume 11 Issue 10, October-2026

Pages : a451-a466

Paper Reg. ID: IJNRD_328866

Published Paper Id: IJNRD2610050

Research Area: Management All

Author Type: Indian Author

Country: -, -, India

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