Strategic affairs experts praised the BRICS Summit’s New Delhi declaration as a diplomatic breakthrough for India and an endorsement of its stance on terrorism, while noting consensus was forged despite differences between Iran and the United Arab Emirates.
The latest BRICS declaration emphasizes interoperable payment systems and local-currency settlement, while avoiding a common BRICS currency or linked central bank digital currencies.
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.
A US analyst described India’s chairmanship of the 18th BRICS summit as successful, citing the early release of a broad joint declaration and consensus among diverse member states.
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.
