BRICS Pay is expanding its cross-border payment network, with memorandums signed with companies in China, Belarus and Turkey and plans to connect additional national payment systems.
Ramaphosa urged BRICS to invest in industry, technology, energy, infrastructure and logistics to strengthen the economic autonomy of the Global South.
BRICS has adopted the New Delhi Declaration, highlighting conflict prevention and raising concerns over unilateral tariffs.
BRICS finance ministers and central bank governors reaffirmed closer economic and financial cooperation, called for reforms of global financial institutions, and advanced initiatives involving the New Development Bank and the Contingent Reserve Arrangement.
At the 12th BRICS Communications Ministers Meeting, India proposed digital public infrastructure repositories, capacity-building centers, and voluntary pilot programmes to support BRICS digital transformation.
BRICS members adopted the Delhi Declaration by consensus at the India-hosted summit after resolving differences between Iran and the UAE over the West Asia conflict.
Indian Prime Minister Narendra Modi said the declaration was adopted by consensus at the New Delhi summit.
PM Modi said BRICS is not against anyone and called for transforming global governance into a platform of partnership for the Global South.
China will assume the BRICS chairmanship in 2027 and host the association’s 19th summit, Chinese President Xi Jinping said at the BRICS summit in India.
