BRICS for an economic bridge

Source: The New Indian Express | Original Published At: 2026-09-22 18:30:00 UTC

Key Points

• BRICS accounts for about 40 percent of global GDP and more than a quarter of global trade, according to the article.
• Intra-BRICS merchandise trade grew 13-fold from 2003 to $1.17 trillion in 2024, but the article says significant untapped potential remains.
• India’s 2026 BRICS chairship is presented as an opportunity to shift BRICS toward tangible economic outcomes for businesses and people.
• Proposed priorities include customs procedures, standards cooperation, trade finance, logistics, digital documentation, services trade, investment facilitation, and MSME participation.
• The article highlights technology, digital public infrastructure, UPI interoperability, and local-currency settlement as ways to deepen BRICS economic connectivity.
• It references the Rio Declaration of 2025 on cross-border payments and the Jaipur Consensus on credit assessment for export-oriented MSMEs.
• It frames BRICS as complementary to India’s other international partnerships and to a WTO-centered global economic system.