The international economic landscape is witnessing a period of significant realignment, with emerging economies playing a greater role in shaping conversations on trade, investment, connectivity and development. Within this changing environment, BRICS and the Shanghai Cooperation Organisation (SCO) have emerged as important platforms for cooperation among countries representing substantial economic, geographic and demographic strength. 

The relationship between the BRICS and SCO economic landscapes is particularly relevant at a time when businesses are looking beyond traditional markets and exploring new avenues for cross-border partnerships. Both platforms provide spaces for countries to engage on issues affecting emerging markets, including market access, infrastructure, regional connectivity, trade facilitation and investment. Their expanding networks also create opportunities for businesses and institutions to build relationships across Asia, Eurasia, Africa, the Middle East and other markets of the Global South.

It was against this broader backdrop that the United Diplomatic Council (UDC) BRICS Business Summit 2026, held in New Delhi, brought together people from different spheres of the world including business leaders, trade representatives, chambers and institutional stakeholders to examine the changing landscape of global economic cooperation. The Summit’s discussions extended across BRICS and its engagement with different regions, including Africa, the Commonwealth, Latin America and the Gulf, while also examining technology, maritime cooperation, sustainable development and international trade.

The presence of the SCO Trade Council at the Summit added an important Eurasian trade perspective to these discussions. It also created a direct institutional connection between the conversations around BRICS and the wider economic networks represented by the SCO. 

Representing the SCO region was Prof. Dr. A. V. Srinivasan, Chairman, SCO Trade Council, whose participation brought particular attention to the role of trade institutions in converting diplomatic and multilateral relationships into practical commercial opportunities. His engagement at the Summit reflected the importance of connecting policy discussions with the interests of businesses, investors, chambers and industry bodies operating across borders.

For Prof. Dr. Srinivasan, the intersection between BRICS and SCO presents an opportunity to widen the scope of economic engagement among emerging markets. 

“BRICS and the SCO represent important platforms through which emerging economies can deepen economic engagement. The priority should be to create stronger bridges between businesses, institutions and markets so that dialogue can translate into greater trade, investment and long-term commercial partnerships. The SCO Trade Council remains committed to supporting practical economic cooperation and strengthening connections among enterprises across these markets.” — Prof. Dr. A. V. Srinivasan, Chairman, SCO Trade Council

The trade potential associated with these platforms extends across several sectors. Manufacturing, pharmaceuticals, agriculture, energy, infrastructure, logistics, technology, digital services and financial cooperation offer avenues where businesses from BRICS and SCO economies can explore complementary capabilities and new commercial relationships. Improved connectivity and greater institutional cooperation can further support companies looking to enter unfamiliar markets or develop partnerships beyond their established trading networks.

For India, the convergence of these conversations carries particular importance. India is an active participant in both BRICS and the SCO, giving it an important position in discussions connecting South Asia with Eurasian and wider emerging markets. The country’s extensive commercial relationships across the Gulf, Africa, Central Asia, Southeast Asia and other regions provide a broad foundation for developing new trade and investment linkages.

This wider perspective was reflected throughout the UDC BRICS Business Summit 2026. Discussions on BRICS–Africa cooperation, maritime and naval technologies, women in economic cooperation, sustainable development, the Commonwealth, Cuba’s engagement with BRICS and broader international partnershipsbrought together different dimensions of the emerging global economic order. The participation of international diplomatic and business representatives further expanded the scope of the discussions.

Dr. Asif Iqbal, President of the United Diplomatic Council, noted the importance of such engagement:

“The participation of the SCO Trade Council at the UDC BRICS Business Summit reflects the importance of building wider economic bridges between regional and multilateral platforms. Stronger institutional connections can create greater opportunities for businesses to explore trade, investment and partnerships across emerging markets. India has an important role to play in bringing these conversations together and supporting a more connected framework for international economic cooperation.”
— Dr. Asif Iqbal, President, United Diplomatic Counci

As trade and investment patterns continue to evolve, cooperation among emerging economies will increasingly depend on practical connections between governments, chambers, trade councils, businesses and investors. The interaction between BRICS and SCO offers one such avenue, linking established institutional frameworks with the commercial interests of enterprises seeking new markets and partnerships. For India, strengthening these connections can contribute to a wider network of economic relationships spanning Eurasia, Asia, Africa, the Gulf and the broader Global South.