BRICS Finance Ministers to Discuss Trade and Digital Currency Ahead of Summit

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Source: Business Standard | Original Published At: 2026-08-27 15:25:08 UTC

Union Finance Minister Nirmala Sitharaman will chair a meeting of BRICS finance ministers on September 1-2 in New Delhi, ahead of the BRICS Summit on September 12-13.
The meeting will discuss financial mechanisms, including digital currencies, and explore ways to reduce transaction costs and increase intra-BRICS trade using national currencies.
India is expected to raise the need for more balanced trade among BRICS member countries.
Officials are seeking a consensus declaration, including on the West Asia conflict, with emphasis on dialogue, diplomacy, maritime commerce, territorial integrity, and protection of civilians.
Under India’s chairship, over 350 meetings and high-level engagements have been held, producing outcomes such as BRICS centres of excellence, a digital agriculture network, an SME cooperation portal, and a startup innovation fund.
BRICS currently has 11 full members and 10 partner countries, representing about 49.5% of the global population, 40% of global GDP, and 26% of world trade.