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BRICS nations eye cross-border payments, local currency trade and investment

RBI Governor Sanjay Malhotra had said in August that BRICS members are discussing linking their fast payment systems and Central Bank Digital Currencies.

BRICS nations eye cross-border payments, local currency trade and investment
5 min readSep 11, 2026 05:15 PM IST
All preparations are complete as New Delhi gets ready to host the upcoming BRICS Summit (EXPRESS PHOTO BY PRAVEEN KHANNA)All preparations are complete as New Delhi gets ready to host the upcoming BRICS Summit (EXPRESS PHOTO BY PRAVEEN KHANNA)
“Pragmatic” and “efficient” solutions to make payments across borders are being discussed by the , with a joint statement issued by the finance ministers and central bank chiefs of the bloc also calling for the promotion of their local currencies to settle trade and make investments.

Separately, Commerce Minister Piyush Goyal also called on the BRICS member and partner countries to link payment systems and trade in each other’s currencies. Speaking at the opening session of BRICS Business Forum, Goyal noted there is “immense potential to deepen cooperation” and that trade amongst partners should be deep and resilient with diversified supply chains. He added that trade should not be an impediment to growth and the well-being of each member state.

Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy.

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Reported by Siddharth Upasani · Syndicated via official news feed

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