India assumes the BRICS chair amid profound contradiction. What began as an emerging economies coalition has become an unwieldy 10-nation bloc including Gulf states, Egypt, and Ethiopia bound more by grievance than vision. Host Anirban Chowdhury speaks with Alicia García-Herrero, chief economist at Natixis, and former BRICS Sherpa Sanjay Bhattacharya to explore whether BRICS can deliver tangible cooperation or remain trapped in anti-Western posturing. For India, the chairmanship means navigating between dollar-defiant Russia and hegemonic China while preserving Western partnerships. External Affairs Minister S. Jaishankar's "inclusive development" focus signals intent, but execution trumps rhetoric. The bloc's value lies in widening the negotiating table, not replacing existing systems. India's test: shaping BRICS without being shaped by it, proving genuine multipolarity requires Indian leadership, not Chinese dominance masquerading as collective action. The world watches whether Delhi extracts concrete benefits from this proving ground.

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