A Middle East analyst said BRICS could gradually reduce U.S. economic dominance by lowering dependence on the dollar rather than through direct confrontation.
The 18th BRICS Summit final declaration centers on global governance reform, New Development Bank expansion, payment interoperability, trade cooperation, and support for the Global South.
At the 18th BRICS Summit in New Delhi, India used its chairmanship to create diplomatic space among rival powers while pushing BRICS toward practical economic and multilateral outcomes.
The 18th BRICS Summit in New Delhi highlighted India’s role in steering the expanded grouping toward cooperation, digital public infrastructure, local-currency trade, and global institutional reform.
The New Delhi BRICS summit advanced calls for reforms of Western-dominated financial institutions while highlighting divisions among members on de-dollarization, Iran, Russia, and relations with the United States.
India has called for stronger banking links and expanded vostro accounts to ease settlement of BRICS trade in local currencies.
A BRICS summit in New Delhi highlighted efforts by emerging economies to present a stronger collective voice in global affairs, while also revealing internal differences over how far the bloc should challenge Western-led institutions.
BRICS’ New Delhi Declaration focuses on local-currency payment infrastructure rather than a common currency, with any move away from the dollar expected to be gradual.
Xinhua reports that China is using the BRICS New Industrial Revolution Partnership Innovation Center in Xiamen to expand technology, investment, training, and trade cooperation with Global South countries.
