As we reflect on the year 2025 for the BRICS alliance, it's clear that this was a period of steady evolution rather than dramatic breakthroughs. Under Brazil's presidency, the bloc navigated a complex global landscape marked by trade tensions, geopolitical pressures, and internal diversities. Yet, BRICS emerged stronger in its representation of the Global South, with pragmatic advances in economic cooperation and institutional development.

The highlight of the year was the 17th BRICS Summit held in Rio de Janeiro on July 6-7, under the theme "Strengthening Global South Cooperation for More Inclusive and Sustainable Governance." Hosted by President Luiz Inácio Lula da Silva, the summit brought together leaders from the expanded membership, though notably without in-person attendance from China's Xi Jinping and Russia's Vladimir Putin. The outcomes were described as mild and cautious, reflecting the bloc's growing heterogeneity as well as its resilience.

A key achievement was the formal integration of Indonesia as a full member in January 2025, bringing the core BRICS to 11 nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates, Saudi Arabia, and Indonesia. This expansion solidified BRICS' economic weight, now representing nearly 40% of global GDP by purchasing power parity and over 45% of the world's population.

On de-dollarization—a topic that has dominated headlines—the approach remained pragmatic. Leaders reaffirmed commitment to increasing trade in local currencies and developing alternative payment systems, but explicitly ruled out a common BRICS currency for now. Progress continued on platforms such as BRICS Pay, and bilateral settlements in national currencies increased, particularly between Russia and China. However, no bold new mechanisms were launched at the summit, partly due to differing priorities among members and external pressures.

Speaking of pressures, U.S. President Donald Trump's repeated threats of 10% to 100% tariffs on BRICS nations pursuing "anti-American" policies or de-dollarization cast a shadow over the year. These warnings, issued multiple times, including during the summit, aimed to deter the bloc but instead highlighted its growing relevance. The Rio Declaration expressed concerns over unilateral tariffs distorting global trade, without naming the U.S. directly—a sign of the bloc's diplomatic balancing act.

The New Development Bank, often called the BRICS Bank, marked its 10th anniversary with continued expansion. It welcomed new members like Algeria and approved projects totaling billions in sustainable infrastructure, renewable energy, and transport across member states. Discussions also advanced on a new guarantee fund to attract private investment by reducing risks.

Other priorities included climate action ahead of COP30, AI governance, global health, and reforming international institutions like the UN Security Council. BRICS positioned itself as a voice for the Global South, advocating for equitable representation and sustainable development.

As the year closes, Brazil has handed over the presidency to India for 2026. Prime Minister Narendra Modi has pledged to give BRICS a "new form," focusing on resilience, innovation, cooperation, and a "humanity-first" approach. With events planned across India, 2026 promises to build on 2025's foundations.

In summary, 2025 was not a year of revolution for BRICS, but one of consolidation. Amid challenges, the bloc proved its enduring appeal as a platform for multipolarity, economic self-reliance, and South-South collaboration. It now looks to India to chart the next chapter in this evolving story of global rebalancing.