New Delhi, India – Trade between BRICS countries has shown a marked increase, strengthening the case for a cross-border payments system as the 18th BRICS Summit, chaired by India, prepares to convene in New Delhi on September 12 and 13, 2026. Reducing global dependence on the U.S. dollar is expected to be a key part of the discussions, with finance ministries and central bank governors from BRICS countries having met in August to discuss the facilitation of cross-border payments and the strengthening of national currencies.
The BRICS bloc, now comprising 10 member countries—Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the UAE—has grown in strength in its objective of advancing trade and diplomatic relations within the Global South. This expansion has made the development of a cross-border payments system increasingly desirable, as member nations seek to reduce reliance on traditional Western-dominated financial infrastructure. The rise in intra-BRICS trade reflects the bloc’s growing economic integration and its collective push for a more multipolar global financial order.
Must Read: ‘Carrie’ Trailer: Mike Flanagan Brings Stephen King’s Horror Classic into the Social Media Age
The upcoming summit in New Delhi will bring together leaders from all member nations to discuss a range of issues, including trade facilitation, payment systems, and currency cooperation. The discussions are expected to focus on practical mechanisms for enhancing financial connectivity among member states, including the use of local currencies for trade settlements. The outcome of the summit could have significant implications for the future of global trade and finance, as BRICS nations seek to assert greater economic sovereignty and reduce their vulnerability to external pressures.
