With the strengthening of the BRICS grouping, several dialogue mechanisms have been established among the countries. The main institutional initiative was the founding of the New Development Bank (NDB), which aims to mobilize resources for infrastructure and sustainable development projects. However, it is also important to highlight the arrangement established around the business groups of these countries, which initially led to the creation of the BRICS Business Forum, and later materialized in the formation of the BRICS Business Council (BBC), which aims to promote commercial, business, and investment ties between the business communities of the five countries. If, on the one hand, research on the work of the NDB is carried out in various academic spheres, on the other hand, the study of the business council has not received as much attention from the academy. Based on a literature review on discussions about the state and capitalism within the field of International Political Economy, this research aims to understand the possible points of contact between these two arrangements, in order to examine the dynamics between the bank and the council, from the perspective of Marxist and Gramscian reflections on the relations between the state and business groups. In this sense, we ask to what extent sectors, projects, and strategic themes expressed in BBC converge with the way of acting and the projects financed by the NDB. To this end, we conducted documental research on the reports made available, a detailed analysis of the bank s projects, and interviews with representative actors. The council will be interpreted as an arrangement that translates the demands and interests of the BRICS business groups as a whole. In turn, the NDB will be understood as the main institutional effort made by the BRICS states to internationalize social demands and forces in the form of a multilateral institutional framework.