BRICS beyond the dollar: How India is leading the bloc into avenues of AI, digital payments, quantum tech

Source: India TV News | Original Published At: 2026-09-12 13:05:38 UTC

Key Points

• India's 2026 BRICS chairship is shifting the bloc's agenda toward digital payments, artificial intelligence, quantum technology, semiconductors, startups and other emerging technologies.
• At the BRICS Business Forum, Prime Minister Narendra Modi highlighted UPI as an example of India's ability to deploy technology at population scale, saying it accounts for around 50% of the world's real-time payments.
• BRICS is not seeking to create a common currency to replace the dollar, but is focusing on interoperable systems and local-currency cross-border transactions.
• India has pushed for linking BRICS payment systems, increasing trade in local currencies and expanding digital trade access, while the bloc works on the BRICS Cross-Border Payments Initiative and discusses interoperability with central bank digital currencies.
• India is promoting its Digital Public Infrastructure model, including UPI, as a tool for payments, identity, service access and financial inclusion at population scale.
• Artificial intelligence is a major BRICS agenda item, with India arguing that Global South countries need access to computing power, data, talent and infrastructure to develop AI.
• The BRICS Bharat Innovates Exposition showcased around 37 Indian deep-tech innovations in AI, healthcare, quantum computing, space technology, robotics, advanced materials and energy.
• India is also highlighting quantum technology, including a 64-qubit processor and an eight-qubit education and research system, as a strategic area to reduce dependence on a small number of countries for next-generation technologies.