The 18th summit is set to address de-dollarization, IMF reform, payment systems, food security and energy cooperation.
The 18th BRICS summit opened Saturday in New Delhi as member countries turned to financial cooperation, global governance, food and energy security, and coordinated responses to geopolitical and economic pressures.
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Indian Prime Minister Narendra Modi formally opened the summit and welcomed leaders of the member countries. The first day centers on a meeting of heads of delegation to set the priorities for the gathering.
India is chairing the bloc under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” with an approach described as people- and humanity-centered, in line with remarks Modi made at the 2025 Rio Summit.
Financial cooperation takes center stage
Financial issues are among the most prominent items on the agenda, including proposals to increase the use of currencies other than the U.S. dollar in international trade.
The debate over alternatives to the dollar has gained momentum following sanctions against Russia and China in which the U.S. currency was used as a tool of pressure, according to the press release.
BRICS members are also looking to link instant-payment platforms, including India’s UPI and Brazil’s Pix. Discussions will also explore interoperability among central bank digital currencies, or CBDCs, issued by members, which have developed at different rates while pursuing converging objectives.
Another proposal would connect member countries’ investment and pension funds with large-scale infrastructure and energy projects. The bloc is also discussing the use of artificial intelligence to improve productivity in the public and economic sectors, based on ethical principles it has already adopted.
Calls for changes to global institutions
The summit will also address demands for reform of the International Monetary Fund and an expanded United Nations Security Council. Brazil, Nigeria and Indonesia are among the countries cited as possible new members.
Members are expected to discuss the effects of the conflict in West Asia and U.S. sanctions on countries in the bloc, alongside measures aimed at securing food and fertilizer supplies for all member states.
Developing countries are particularly vulnerable to disruptions in supply chains and the effects of coercive measures, according to the release.
Security cooperation is another item on the agenda. BRICS members are promoting a common strategy to harmonize approaches to cyber and extremist threats and coordinate responses that extend beyond national borders.
A broader agenda
The summit brings together discussions on finance, trade, infrastructure, technology, food and energy security, and the international system at a time of heightened geopolitical tensions and global economic turbulence.
The meeting is also taking place against what the release describes as efforts by Western countries to isolate Russia and China and pressure countries in the Global South. In that context, BRICS is presented as a forum for coordination among its members as they pursue alternatives to the existing global order.
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