India’s BRICS Summit agenda will emphasize development finance and emerging-economy priorities, while common currency and further expansion are expected to receive limited traction.
A parliamentary panel questioned whether India will advance de-dollarisation and financial sovereignty issues at the BRICS summit, while the government has opposed a common BRICS currency.
Iranian Central Bank Governor Abdolnaser Hemmati said Iran will soon become a member of the New Development Bank, the BRICS-established lender, ahead of a BRICS finance ministers and central bank governors meeting hosted by India.
Reserve Bank of India Governor Sanjay Malhotra said BRICS members are discussing possible links between fast payment systems and central bank digital currencies to reduce cross-border payment costs.
RBI Governor Sanjay Malhotra said BRICS countries are studying payment-system linkages and central bank digital currencies to make cross-border transactions faster and cheaper.
At the BRICS Trade Ministers’ Meeting in Jaipur, Indonesia advocated wider MSME financing access, resilient global value chains and stronger multilateral trade cooperation.
A UAE minister said non-oil trade with BRICS countries grew 28.5% year on year in 2025 and described BRICS as a key platform for practical economic cooperation.
India hosted BRICS trade ministers to discuss multilateral trade, MSMEs, digital transformation and economic cooperation.
BRICS trade ministers agreed to study an Invoice Discounting Mechanism to improve MSME access to trade finance and reduce the global MSME finance gap.
