Pakistan’s application for BRICS membership remains stalled because India opposes it, despite backing from Russia and China, under the bloc’s consensus-based admission process.
At the BRICS summit in New Delhi, India must manage an increasingly heterogeneous grouping without letting China set the agenda or allowing Russia’s confrontation with the West to dominate the bloc.
At the 18th BRICS summit in New Delhi, Iranian President Masoud Pezeshkian called on BRICS to prevent obstruction of legitimate trade and deepen operational cooperation, including expanded use of national currencies.
At the BRICS Business Forum in New Delhi, leaders highlighted the bloc’s growing economic weight, sanctions pressure, and proposals for new financial and logistical mechanisms.
Business leaders and global experts said India’s growth, entrepreneurship and digital infrastructure can deepen trade and investment cooperation with BRICS economies.
BRICS is promoting local-currency trade and interoperable payment systems, but not explicitly calling for de-dollarisation or a common currency. For India, rupee settlement may support exports and reduce dollar-sanction exposure, while trade imbalances and dollar dominance remain challenges.
Russian presidential spokesperson Dmitry Peskov said BRICS activity is not aimed against any party and serves only the interests of participating countries, speaking on the sidelines of the BRICS summit in New Delhi.
At a BRICS leaders’ session, India promoted the Unified Payment Interface, Russia compared BRICS and G7 economic contributions, and Iran called for resilient trade, financing, and payment channels.
Leaders at the BRICS Business Forum emphasized stronger economic cooperation, wider use of local currencies, safer trade routes, and a greater role for the New Development Bank in infrastructure and energy financing.
