India advances BRICS payment talks, local currency settlements: DEA Secretary

Source: Business Standard | Original Published At: 2026-09-24 11:23:59 UTC

Key Points

• India has advanced BRICS discussions on efficient cross-border payment mechanisms, including interoperability of payment and messaging channels, DEA Secretary Anuradha Thakur said.
• The talks also cover promoting trade settlements and investments using BRICS local currencies, while recognising national priorities and avoiding a one-size-fits-all approach.
• Thakur encouraged the BRICS Payment Task Force to continue building practical solutions that are fast, low-cost, accessible, efficient, transparent, and safe.
• A joint statement by BRICS Finance Ministers and Central Bank Governors on September 10 supported the task force’s ongoing work on cross-border payments.
• She framed India’s BRICS engagement as part of a broader shift from seeking a greater voice for emerging markets to shaping the global economic order.
• The BRICS New Delhi Declaration 2026 reaffirmed the bloc’s commitment to reforming global governance and expanding representation for emerging markets and developing economies.