There will be a strong push to strengthen the grouping’s development finance architecture with focus on the New Development Bank that has been financing various projects in eligible countries, sources said. “Proposals for a common BRICS currency are unlikely to find much traction. Brazilian President Luiz Inácio Lula da Silva is expected to skip the summit due to his country’s elections. 27 Invitees“The summit will bring together about 27 invitees (excluding India), including 10 BRICS members, 10 partner countries, five outreach countries and a couple of institutions. India assumed the official BRICS chairmanship on January 1, 2026, marking its fourth time leading the group.