The 18th BRICS Summit in New Delhi was less a diplomatic gathering than a high-voltage stage for the world’s biggest geopolitical contradictions. Under the lights of Bharat Mandapam, India hosted an extraordinary cast of presidents, prime ministers and foreign ministers, from Vladimir Putin, Xi Jinping, and Masoud Pezeshkian to Abdel Fattah el-Sisi, Prabowo Subianto, Cyril Ramaphosa and Brazil’s Mauro Vieira at a moment of extraordinary geopolitical turbulence. And nowhere was that turbulence more visible than in West Asia. With Iran and the UAE sitting around the same table even as war raged across the region, the summit offered a rare room in which adversaries and uneasy partners could, at least for two days, sit down and talk. The New Delhi Declaration, calling for restraint, dialogue and diplomacy, was therefore more than just another summit communiqué.
It was a test of whether an expanded BRICS could still find common ground when some of its members were caught in the middle of one of the world’s most volatile conflicts. Against that extraordinary backdrop, NewsX Foreign Affairs Editor Sukanya Saha spoke exclusively with Brazilian Foreign Minister Mauro Vieira to unpack what India’s BRICS presidency achieved, how difficult it was to build consensus among an expanded bloc amid the Iran war, and where Brazil sees BRICS heading. The conversation also spans India-Brazil trade, the future of the India-MERCOSUR partnership, the use of local currencies and what Vieira insists is a misconception about de-dollarisation. And, on a more personal note, he reflects on his latest visit to Delhi and his conversation with his “good friend”, External Affairs Minister S. Jaishankar. excerpts
Q 1. India and Brazil have set an ambitious target of doubling bilateral trade to 30 billion dollars by 2030. What are the biggest barriers preventing the two countries from reaching that target, and what concrete steps is Brazil willing to take to address them?
A: Our leaders, Prime Narendra Minister Modi and President Luiz Inácio Lula da Silva Lula, have already established the target you mentioned for growth in trade, and we expect to reach $20 billion in bilateral trade this year. This represents a significant improvement in our ties, given that trade reached $15 billion last year and $12 billion in 2024. It is clearly a sustainable path for growth.
Q 2. Both sides are looking at expanding the India-MERCOSUR Preferential Trade Agreement. How ambitious can this expansion be? And could a substantially expanded agreement become a gateway for India to deepen its trade and economic engagement with the wider Latin American market?
A: Mercosur is interested in this dialogue with India, and so is Brazil, given the huge potential of bringing our economies closer together. We are heading in the right direction, but we are only getting started in exploring the extremely rich potential for growth in trade and investment between our economies.
Q 3. Brazil handed the BRICS presidency to India this year. Did India, as chair, deliver what Brazil expected, particularly at a time when the grouping has expanded and there are significant differences among its members?
A: Certainly. India had a very successful presidency, particularly given the difficult circumstances in the world, and the Delhi Summit was a success across all of the grouping’s core priorities.
Q 4. There is a continuing debate over whether BRICS should evolve into a counterweight to the West or remain a platform for cooperation among emerging economies. Where does Brazil stand on this?
A: BRICS has a crystal-clear agenda. We are in favour of cooperation and political dialogue among our members, with a firm commitment to multilateralism and peace. We are not, and will not be, against anyone. That is not our role. The idea that BRICS is against anyone is simply a misconception, not supported by the facts or by the bloc’s constructive track record over its 20 years of existence.
Q 5. With BRICS now significantly larger than the original five-member grouping, does Brazil believe expansion has strengthened the bloc’s influence, or has it made consensus more difficult?
A: Building consensus among ten members is theoretically more complex than doing so among five, but India’s presidency this year has proven that it is possible, even on controversial issues such as the war in Iran. This shows that the grouping, in its enlarged format, is mature and has a clear understanding of the importance of its role as a major platform for cooperation and a leading voice for the Global South in advocating the reform of the international order and its institutions.
Q 6. President Trump has repeatedly threatened punitive tariffs against BRICS countries if they support efforts to reduce the dominance of the US dollar, including a threat of 100% tariffs. How seriously does Brazil take that threat? And could such pressure actually push BRICS countries towards greater financial cooperation rather than weaken the grouping?
A: This is not a real issue for us, since BRICS is not engaged in that kind of effort related to currencies. As I have said on several occasions, BRICS focuses on cooperation and dialogue among its members. It is not against anybody, and that applies to this case as well.
Q 7. BRICS has discussed increasing the use of local currencies and reducing dependence on the dollar, but there is clearly no consensus on replacing the dollar or creating a common BRICS currency. Has the bloc become more cautious about the pace and ambition of dedollarisation?
A: There is some confusion and misinformation about this issue in global media coverage. The use of local currencies in trade is common practice for a number of countries nowadays, including Brazil, and does not mean de-dollarisation at all. It simply provides an alternative for businesses engaged in trade. We have had the option of using local currencies in bilateral trade with our neighbour Argentina for about 20 years now, and this option has been extended to our other partners in Mercosur, Paraguay and Uruguay. So, it seems logical to explore possibilities for developing trade in local currencies, but that does not mean BRICS is contemplating a common currency or pursuing a de-dollarisation agenda. That is not on the BRICS agenda.
Q 8. Before I let you go: you’ve spent quite a bit of time in India. What is one conversation or one moment from this visit that you think you’ll remember when you return to Brazil?
A: It was my third visit to India this year and my sixth since I took office in January 2023. The vitality of the country and its people is remarkable. Since the first time I came to India, back in 1992, I have noticed meaningful improvements on every visit I have made. India never ceases to amaze me. From this visit, I will remember my conversation with my good friend, Foreign Minister Jaishankar, at Hyderabad House last Saturday morning, and the shared optimism and enthusiasm we have about the increasingly relevant role India, Brazil and BRICS will play in world affairs in the coming years.
