The 18th BRICS Summit, marking the organization's twentieth anniversary, has concluded in New Delhi. The leaders of the member states adopted the final New Delhi Declaration, a document of one hundred forty points that outlined key areas for joint work, including sustainable development, innovation, finance, healthcare, energy, and humanitarian exchanges.

BRICS reaffirmed its commitment to cooperation, innovation development, sustainable development, and strengthening the resilience of member states. The countries noted the growing role of BRICS partners and supported their greater involvement in joint initiatives.

Participants adopted a separate leaders' statement on global governance of artificial intelligence. The declaration also recorded agreements to expand cooperation in healthcare and the development of financial technologies for inclusive economic growth and sustainable infrastructure.

The document highlighted the importance of broader participation by developing countries and emerging markets in global governance, as well as strengthening the role of the Global South. Indian Prime Minister Narendra Modi proposed developing ten initiatives to reform the global governance system, which could be turned into a roadmap for reform.

BRICS expressed serious concern over the rise of unilateral tariff and non-tariff measures that distort trade and are inconsistent with World Trade Organization rules. The declaration reaffirmed support for a multilateral, WTO-centered trading system. The bloc also confirmed its intention to continue work on cross-border payment mechanisms and the use of national currencies.

The declaration was agreed after intensive negotiations, during which India, as chair, managed to bring closer the positions of the United Arab Emirates and Iran, which held opposing views on a number of regional issues. Prime Minister Modi noted that the document was adopted unanimously, without objections.

The decisions recorded in the New Delhi Declaration will be developed further at the BRICS Plus Business Forum, to be held in Saint Petersburg from October 21 to 24. While the summit sets strategic guidelines, ranging from global governance reform to settlements in national currencies, the Saint Petersburg forum traditionally focuses on practical tracks: specific contracts, investment projects, and technological exchange.

The BRICS House, as organizer of the Business Week, continues forming delegations and the business program, keeping the forum's agenda closely aligned with the outcomes of the New Delhi summit.