Explainer: How India is Steering the Global South’s Coalition
As India chairs the 18th BRICS Summit, New Delhi is promoting resilience, innovation, cooperation, and sustainable development among emerging economies.
As India chairs the 18th BRICS Summit, New Delhi is promoting resilience, innovation, cooperation, and sustainable development among emerging economies.
BRICS Pay aims to connect national payment systems of member and partner countries, starting with an India-Russia MoU linking UPI and Russia’s Faster Payments System for cross-border transactions in local currencies.
BRICS Pay will connect national payment systems of member and partner countries to enable faster cross-border digital payments in local currencies, with India and Russia signing an MoU to link UPI with Russia’s Faster Payments System.
A BRICS business body official backed local currency and digital transaction systems for a multipolar economic framework and urged India to strengthen exports to BRICS economies.
Former BRICS Sherpa Sanjay Bhattacharyya described BRICS as a stabilising force ahead of India’s hosting of the 18th BRICS Summit, highlighting the bloc’s 20-year milestone and India’s chairship agenda.
CAIT National General Secretary and MP Praveen Khandelwal said BRICS can strengthen India’s role in the Global South and expand trade, investment and exports for Indian businesses.
The 18th BRICS Summit in New Delhi will feature Modi-Xi bilateral talks, focus on the Strategy for BRICS Economic Partnership 2030, and explore practical cross-border digital payment frameworks.
Vladimir Putin is set to attend the BRICS summit in India, where leaders will discuss fintech cooperation and payment tools that reduce reliance on SWIFT while avoiding direct confrontation over de-dollarization.
A BJP MP said BRICS should help protect trade and essential supplies amid the West Asia crisis by promoting dialogue, local-currency trade and alternative corridors.