India to pitch central bank digital currencies to BRICS partners at summit

Source: The Economic Times | Original Published At: 2026-08-29 00:01:00 UTC

Key Points

• India is likely to propose seamless cross-border digital payments and adoption of central bank digital currencies among BRICS member states at the summit it will host in New Delhi on September 12-13.
• A high-level meeting is expected to discuss mechanisms for digital currencies and ways to increase intra-BRICS trade using national currencies.
• New Delhi is also focusing on balanced trade within BRICS and reducing transaction costs across the 11-member grouping.
• The meeting is expected to provide clarity on fast payment system linkages that could be adopted at the BRICS summit.
• Interoperability remains a key issue, with India's central bank examining cross-border digital transaction potential within BRICS while countries including China run digital currency pilots.
• The summit could also work on realizing the BRICS Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters and cooperation on global value chains through the 2026-30 Action Plan.