BRICS leaders act to hedge, not revolt, against US dollar dominance
As the New Delhi summit closed, BRICS leaders pushed for a louder voice in global institutions while building parallel mechanisms, according to analysts.
As the New Delhi summit closed, BRICS leaders pushed for a louder voice in global institutions while building parallel mechanisms, according to analysts.
Founder of the Black Money Movement was recognized in the Education and Skill Development category at a ceremony in New Delhi.
Analysts say the absence of a common BRICS currency reflects a pragmatic strategy to reduce reliance on the US dollar through cross-border payment infrastructure.
BRICS Pay has moved from discussion to practical implementation, with cooperation between Russia’s Direct Investment Fund and BRICS Pay India aimed at developing cross-border payment services within the bloc.
The New Delhi summit produced shared positions on trade, security and artificial intelligence while launching new cooperation mechanisms across technology, health, logistics, agriculture and innovation.
An analysis says BRICS+ expansion may broaden local-currency cross-border trade settlement, with Russia and Iran seen as major beneficiaries.
Global media assessed the BRICS summit’s restrained statement on West Asia, efforts to reduce dollar dependence, and India-China engagement within the grouping.
Malaysia says its participation in the BRICS Leaders’ Summit aims to promote a fairer international system rather than oppose other blocs.
The article argues that BRICS is becoming a practical economic and diplomatic platform, with India and South Africa positioned to deepen cooperation in trade, finance, industrialisation, technology and shared development.