Can BRICS Say Goodbye to the Dollar?

Source: Eenadu | Original Published At: 2026-09-27 20:20:22 UTC

Key Points

• The recent BRICS summit in Delhi adopted the New Delhi Declaration, raising the question of whether BRICS can challenge the Western-led global order and promote a multipolar world.
• BRICS agreed to support reforms in the UN Security Council and international institutions, promote trade in local currencies, and strengthen cooperation against terrorism.
• The declaration opposed unilateral tariff hikes and non-tariff barriers and called for fair, lawful international trade consistent with WTO rules.
• BRICS encouraged stronger financial cooperation through the New Development Bank and de-dollarization, but it did not establish a common currency or an independent alternative to Western payment systems.
• The article notes that the New Delhi Declaration is a political commitment rather than a binding treaty, with limited implementation timelines and collective action constrained by divergent member interests.
• India is portrayed as seeking to use BRICS as a non-anti-Western platform to strengthen its influence among developing countries while managing strategic competition with China.