How BRICS Provides India Strategic Leverage Against Economic Coercion
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Cooperation areas
Source: Daily Excelsior | Original Published At: 2026-02-03 23:29:52 UTC
Key Points
- India's BRICS membership offers strategic alternatives to US-dominated financial systems through local currency trade and New Development Bank financing.
- Trade with BRICS members exceeded $380 billion in 2023, with Russia supplying 30-40% of India's crude oil imports.
- BRICS financial mechanisms reduce vulnerability to US sanctions and tariffs by developing non-dollar payment systems.
- New Development Bank has approved over $35 billion in financing, with 30% in local currencies.
- Strategic participation in BRICS enhances India's geopolitical leverage while maintaining US defense ties.