India should leverage BRICS through development bank, analysts say

India has an opportunity to maximise BRICS' potential through the New Development Bank, a multilateral lending institution that could serve as a counterbalance within the grouping while advancing shared development goals.

The NDB presents a pragmatic platform for BRICS nations to cooperate on infrastructure financing and economic projects without amplifying any single member's dominance. By expanding the bank's capital base, broadening its membership, and promoting local-currency lending mechanisms, member states can enhance its effectiveness and relevance in regional development.

Strengthening the NDB aligns with India's interests in maintaining an equilibrium within BRICS. As the grouping expands and evolves, development finance through multilateral institutions offers New Delhi a means to advance cooperation on terms that are balanced and transparent, rather than through bilateral arrangements that may skew geopolitical dynamics.

Experts argue that this focused approach allows India to extract maximum value from BRICS membership while protecting its strategic autonomy. Deepening the NDB's operational capacity and reach would give the institution greater credibility in attracting capital and implementing projects, ultimately benefiting all member nations and their development priorities.