India
Source: telanganatoday.com

A common currency may not be the answer; BRICS can reduce dependence through local-currency trade, digital payments and diversified reserves

By Prof Ramakrishna Gollagari

The US dollar has occupied the centre of the international monetary system for more than seven decades. The Bretton Woods Agreement of 1944 established the foundations of this dominance. Although the Bretton Woods system ended in 1971, the dollar retained its central role in international trade, investment and foreign-exchange markets.

Recent data underline both its strength and the beginnings of diversification. According to the IMF, the dollar accounted for 57.13 per cent of global official foreign-exchange reserves in the first quarter of 2026, compared with 20.03 per cent for the euro and 1.99 per cent for the Chinese renminbi.

The dollar’s dominance is even more striking in currency markets. The Bank for International Settlements’ latest triennial survey shows the dollar accounted for 89.2 per cent of all foreign-exchange transactions in April 2025, while the euro accounted for 28.9 per cent and the renminbi 8.5 per cent.

Reducing Dollar Dependence

The dollar-based system has provided deep financial markets, liquidity, and convenience for international transactions. Its extensive network makes it difficult for any alternative currency to challenge its position quickly. Yet excessive dependence on a single currency creates risks, particularly for emerging economies. When a domestic currency depreciates, the domestic-currency burden of dollar-denominated debt rises. Changes in US interest rates can also affect capital flows, exchange rates, and borrowing costs in developing economies.

The Russia-Ukraine war and the financial sanctions that followed demonstrated another dimension of the issue: access to reserves and international payment systems can acquire geopolitical significance. This has strengthened the case for diversification.

A Practical BRICS Strategy

For BRICS, the approach is not to attempt an immediate replacement of the dollar. Instead, members can increase the use of national currencies, encourage local-currency lending and strengthen the role of the New Development Bank (NDB). This direction is already visible in recent BRICS discussions.
Local-currency lending can help achieve this objective. The aim should not be de-dollarisation but greater currency choice. India, Brazil and other BRICS members can expand trade settlement in national currencies where commercially feasible. The NDB can increase development lending in local currencies. The idea is not to replace one dominant currency with another, but to create a more diversified international monetary system.

Is BRICS Currency Necessary?

A common BRICS currency is an attractive idea, but it would be extremely difficult to implement. It would require substantial coordination of inflation, interest rates, fiscal policies, exchange-rate regimes, financial regulation, and capital markets. BRICS economies differ considerably in economic structure, levels of development, monetary policy, and geopolitical interests.

India should pursue diversification, not confrontation, as the dollar remains important for its international trade, energy imports, foreign investment, and financial markets

There are also other institutional questions. Who would control such a currency? Who would determine monetary policy? How would voting rights be allocated? What would happen when one member experiences a financial crisis?

A common currency should therefore be regarded as a long-term possibility, not an immediate objective. A practical middle path exists between complete dependence on the dollar and the creation of a common currency.

BRICS could develop a multilateral trade-clearing and settlement mechanism. Member countries could retain their national currencies while using a common accounting or clearing arrangement for cross-border trade. Such a mechanism could reduce the need to convert every transaction into dollars. It could begin with bilateral trade arrangements and gradually develop into a broader multilateral system.

Efficient Digital Payments

Currency diversification will succeed only if payment systems are efficient. BRICS countries should therefore explore interoperability among their domestic digital-payment systems. India’s UPI provides an important example of how a fast, low-cost digital payment infrastructure can change the way individuals and businesses transact.

The objective should be to extend this efficiency across borders. Secure, fast, and inexpensive cross-border payments can make national currencies more attractive to businesses. De-dollarisation would then become an economic process rather than merely a statement.

BRICS central banks can also gradually diversify their foreign-exchange reserves. But replacing the dollar with a single alternative currency would simply create another concentration risk. A more balanced portfolio involving the euro, yen, pound, gold and other reserve assets may be more appropriate.

India should pursue diversification, not confrontation with the dollar. The dollar remains important for India’s international trade, energy imports, foreign investment and financial markets. At the same time, India can encourage rupee-based trade settlement wherever commercially feasible.

The NDB’s Role

The New Development Bank could become one of the most important institutions in this transition. Greater local-currency lending would support infrastructure and sustainable development while reducing foreign-exchange risks for borrowers. However, there could be some issues: limited liquidity in some currencies, exchange-rate volatility, trade imbalances, capital controls, and differences in economic policies.

Local-currency trade will not automatically be cheaper or more efficient. Currency convertibility and the availability of liquid financial markets matter. The success of any alternative system will ultimately depend on credibility, transparency, liquidity, convertibility, and market confidence.

A More Diversified Order

The international monetary system is unlikely to move from a dollar-dominated structure to a BRICS-dominated structure in one dramatic step. The more plausible transformation is gradual: more currencies, more payment channels, more settlement options and greater diversification of reserves.
Thus, BRICS needs to create more credible alternatives. The more likely future is not a world without the dollar, but a world in which the dollar is no longer the only practical choice.

(The author is Visiting Professor, Centre for Economic and Social Studies [CESS], Hyderabad)

India
Source: www.tbsnews.net

The move from five to 11 members has increased BRICS’ demographic and economic weight, but also its geopolitical and ideological heterogeneity, making cohesive action harder

One of the most difficult challenges was the presence of countries with conflicting geopolitical interests within the same grouping. Photo: Reuters

The 18th BRICS Summit took place in India under the theme "Building for Resilience, Innovation, Cooperation, and Sustainability." BRICS countries collectively represent more than 40% of the world's population and nearly a quarter of global GDP.

It was the first summit with the expanded membership of 11 countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia and the UAE.

The 18th BRICS Summit was significant because it expanded cooperation beyond traditional economic issues to include global governance, finance, health, agriculture, artificial intelligence, climate resilience, energy and maritime safety.

The move from five to 11 members has increased BRICS' demographic and economic weight, but also its geopolitical and ideological heterogeneity, making cohesive action harder.

Managing an expanded and divided bloc

The major challenges at the summit included geopolitical conflicts, differences among members, financial cooperation, trade tensions and the difficulty of maintaining a common position on international issues.

The summit's principal challenge was not agenda-setting — India proposed an ambitious programme across governance, security, trade and technology — but extracting consensus in a "very polarised world" where members are simultaneously partners and adversaries.
One of the most difficult challenges was the presence of countries with conflicting geopolitical interests within the same grouping. The bloc faced internal friction given their differing regional security alliances and diplomatic approaches towards Middle Eastern stability.

The participation of Iran and the UAE, for example, was particularly significant given the tensions in the Middle East. Despite bilateral discussions between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping, long-standing border issues, competition in the Indian Ocean and trade imbalances continue to complicate deeper economic integration within the bloc.

The summit placed emphasis on unity, economic cooperation, technological development, diplomatic dialogue and greater representation of the Global South.

Deepening economic and institutional cooperation

BRICS members advanced work on the BRICS Economic Partnership Strategy 2030 and discussed ways to increase trade and investment among member countries.

The leaders endorsed efforts to link domestic messaging and payment systems to make cross-border transactions faster, cheaper and safer, acknowledging technical and regulatory complexities across members. Overall, the summit strengthened BRICS as a forum for cooperation among emerging and developing economies.

The BRICS summit reinforced its call for a greater role for the Global South in international institutions. BRICS reaffirmed support for a more democratic, representative and effective international order with the UN at its centre, and backed comprehensive UN Security Council (UNSC) reform to amplify the voice of the Global South.

BRICS members strongly called for structural reforms to the United Nations Security Council (UNSC), World Trade Organisation (WTO), International Monetary Fund (IMF) and World Bank to grant emerging economies greater voting weight and representation.

They formally condemned the use of non-UN-sanctioned unilateral trade restrictions, arbitrary tariffs and economic coercion, reaffirming commitment to a rules-based multilateral trading architecture.
Moreover, BRICS members demonstrated their commitment to multilateralism, international law, sustainable development and greater representation of developing countries in global decision-making.

Agriculture, AI and climate resilience

The summit promoted greater cooperation in agriculture. BRICS agreed to strengthen cooperation through networks dealing with agroecology, regenerative agriculture and digital agriculture. The initiatives are intended to encourage climate-resilient farming, knowledge sharing, technological innovation and improved agricultural productivity.

Artificial intelligence (AI) and emerging technologies were another major area of discussion.
The declaration recognised the potential of AI to contribute to economic growth and sustainable development while stressing the importance of safety, security, inclusiveness and reliability. BRICS members committed themselves to greater international cooperation on AI governance, research and innovation, particularly with attention to the interests of developing countries.

The summit placed considerable emphasis on sustainable development and resilience. BRICS supported cooperation on climate-resilient infrastructure, disaster-risk reduction and early-warning systems. The members also discussed energy security, resilient supply chains, smart grids, energy storage and the use of new technologies in energy systems. The declaration emphasised that the transition towards cleaner energy should take account of the different circumstances and development needs of individual countries.

Addressing global conflicts and security

The summit also addressed major international conflicts and called for dialogue, diplomacy and restraint.

The New Delhi Declaration reaffirmed BRICS' opposition to terrorism and called for international cooperation against terrorism. The leaders reiterated a zero-tolerance policy against terrorism financing, safe havens and cross-border insurgencies.

Amid regional conflicts, member nations jointly issued a unified call for immediate de-escalation, maximum restraint, protection of civilian infrastructure and unhindered access for humanitarian relief in Gaza.

The 18th BRICS Summit was significant because it demonstrated the continued effort of BRICS countries to strengthen cooperation and increase the representation of developing and emerging economies in global affairs.

The summit produced a joint declaration, advanced discussions on economic and financial cooperation, promoted technological collaboration and reaffirmed calls for reform of global institutions.

Where consensus remained elusive

However, there are a few issues that could not be resolved. The summit did not create a single BRICS currency.

Instead, it deepened work on trade settlements in national currencies and interoperable cross-border payment systems via the BRICS Payment Task Force.

Moreover, no comprehensive BRICS free-trade agreement was concluded. Economic outcomes remain focused on facilitation, customs cooperation and payment interoperability rather than deep tariff liberalisation.

All 11 BRICS members and participating partners adopted the 45-page, 140-point declaration by consensus despite acute geopolitical divisions.

However, the summit's achievements should not be viewed as the resolution of all BRICS differences. Its success lies less in dramatic breakthroughs than in managing divergence, keeping the expanded bloc functional and converting a crowded agenda into actionable mechanisms.

Many people see the success of the 18th BRICS in terms of its ability to bring together leaders of the expanded BRICS grouping at a time of major geopolitical tensions, economic uncertainty and changes in the global balance of power.

In fact, the Summit can be judged a diplomatic and institutional success.

The summit acted as a diplomatic hub, featuring over 15 bilateral meetings on the sidelines.

Notably, it provided a platform for high-level meetings between host Prime Minister Narendra Modi, Chinese President Xi Jinping, Russian President Vladimir Putin and Iranian President Masoud Pezeshkian to navigate complex regional and border dynamics developing nations.

Unfortunately, Bangladesh missed an opportunity to have bilateral meetings of Prime Minister Tarique Rahman with some of these leaders on the sidelines.

Prime Minister Tarique Rahman skipped the 18 BRICS summit in Delhi as he was invited as Chair of BIMSTEC. History will judge whether such a move was wise or not.

The challenge of sustaining BRICS cooperation

The 18th BRICS Summit strengthened the framework for cooperation among BRICS countries and highlighted the grouping's growing role in discussions about the future of the international economic and political order.

Its long-term success will depend on whether the agreements and proposals discussed in New Delhi can be translated into practical and sustained cooperation among its increasingly diverse members.
Dr Sajjad M Jasimuddin is a Professor (professeur senior) at Kedge Business School and head of the Geopolitics Strategy Lab in France.

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard.

India
Source: www.newkerala.com

Southeast Asian countries are showing growing interest in BRICS as a way to broaden their economic and diplomatic options, according to a new report. The Philippines and Vietnam are among those seeking deeper engagement, with Manila also expanding its strategic partnership with India. The report says BRICS is increasingly seen in the region as a platform for diversification rather than confrontation.

Key points

• ASEAN views BRICS as a platform to diversify partnerships without a West-vs-rest binary
• Philippines and Vietnam deepen engagement amid strategic autonomy push
• India and Philippines discuss defence, trade, space and infrastructure ties

ASEAN countries show growing interest in BRICS amid push for strategic autonomy: Report

The growing interest of Southeast Asian countries in BRICS reflects a broader push for strategic autonomy and diversification of economic and diplomatic partnerships amid shifts in the global order, according to a report.

"ASEAN nations would engage with BRICS on advancing peace, inclusive growth, sustainable development and a rules-based international order - Filipino President Ferdinand Marcos Jr."
According to the report by India Narrative, the recently concluded 18th BRICS Summit, held in New Delhi on September 12-13, 2026, under India's chairship, brought renewed attention to the grouping's growing relevance among ASEAN countries.

The summit was held under the theme, "Building for Resilience, Innovation, Cooperation and Sustainability", with a focus on strengthening cooperation across political and security, economic and financial, and cultural and people-to-people pillars.

The report said ASEAN's interest in BRICS merits attention as the Southeast Asian grouping has traditionally positioned itself as a regional platform for small and middle powers, emphasising consultation and cooperation rather than coercion. It noted that BRICS is increasingly being viewed in Southeast Asia as a platform through which countries can diversify their economic and diplomatic engagements without subscribing to a 'West vs. the rest' binary.

Filipino President Ferdinand Marcos Jr., who attended the New Delhi summit as ASEAN Chair and an Outreach Country, said ASEAN nations would engage with BRICS on advancing peace, inclusive growth, sustainable development and a rules-based international order, according to the report.
The report noted that the Philippines' interest in expanding its diplomatic and strategic options comes amid its sovereignty dispute with China in the South China Sea. It said BRICS could provide Manila with an additional platform to broaden its engagement while avoiding direct confrontation with Beijing.

On the sidelines of the summit, India and the Philippines also held discussions on expanding their strategic partnership across defence, trade, space and infrastructure. The Philippines had purchased the shore-based version of India's BrahMos anti-ship cruise missile in 2022, with deliveries of launch systems beginning in April 2024.

The report also highlighted Vietnam's growing engagement with BRICS. According to the Vietnamese ambassador to India, through engagement, Vietnam aims to contribute to the overall success of BRICS, helping strengthen the voice of developing countries, while it will provide Vietnam with additional space to diversify markets and partners.

Vietnam became a BRICS partner country in 2025, while Vietnamese Prime Minister Le Minh Hung attended the New Delhi summit at Prime Minister Narendra Modi's invitation. The report said Hanoi sees BRICS as another platform beyond ASEAN through which it can expand partnerships while maintaining ties with China, the United States, Japan and Europe.

India and Vietnam also agreed to strengthen defence and maritime cooperation on the sidelines of the summit.

Malaysia, another BRICS partner state, is also looking at the grouping as an avenue to expand economic and diplomatic engagement with major emerging markets amid global economic uncertainty and regional conflicts. The report noted that India is Malaysia's largest trading partner in Asia and said "Indian companies had 293 approved manufacturing projects in Malaysia worth US$2.95 billion as of June 2026, which is expected to create 28,455 jobs."

Indonesia, the sole ASEAN member of BRICS, meanwhile, views the grouping as a platform to strengthen the voice of the Global South and promote more resilient global trade and supply chains.
The report said the growing ASEAN interest in BRICS could create opportunities for India to deepen economic and strategic engagement with Southeast Asian economies. It also argued that India's presence could help ensure that BRICS remains a platform for broader Global South cooperation rather than becoming dominated by any single power.

According to the report, India and ASEAN countries share an approach centered on strategic autonomy, diversification and consultation.

"BRICS offers both India and Southeast Asia a platform to exercise their economic as well as strategic interests without conforming to a 'West v/s rest' binary, which thus attracts the ASEAN countries towards this non-Western association," the report stated.

India
Source: www.pib.gov.in

India’s BRICS Tax Chairship delivers landmark outcomes across technology, administration and people

Two new India-led Working Groups on International Taxation and Revenue Statistics formally established; BRICS Tax Progress Report 2026 adopted

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurated the BRICS Heads of Tax Authorities Meeting in New Delhi today, as the culmination of India’s BRICS Chairship of the tax cooperation track. The meeting was also addressed by the Union Finance Minister, Union Minister of State for Finance Shri Pankaj Chaudhary, and Revenue Secretary Shri Arvind Shrivastava.
The meeting was attended by Shri Ravi Agrawal, Chairman, CBDT, Shri Prasenjit Singh, Member (Legislation), CBDT, other Members of CBDT, and senior officers of the Department of Revenue (DoR). The meeting, hosted by the Central Board of Direct Taxes, Ministry of Finance, Government of India, brought together the Heads of Tax Authorities of the BRICS member countries. Representatives from ten BRICS tax administrations - Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates - came together at one place to share their experiences and discuss emerging challenges through cooperation and collaboration.

In her address on the occasion, Smt. Sitharaman highlighted technology, administration and people as the three recurring themes of BRICS tax cooperation during India’s Chairship. She emphasised the role of data and digital infrastructure in making tax administration more precise and accessible, the importance of durable institutional mechanisms and practical tools that can sustain cooperation beyond individual Chairships, and the value of investing in people and building professional relationships across tax administrations. She also underscored that the perspectives of BRICS economies are essential to ensuring the fairness and durability of ongoing multilateral tax negotiations, including the negotiations on the UN Framework Convention on International Tax Cooperation.

The meeting formally adopted several landmark outcomes. Two new Working Groups on International Taxation and Transfer Pricing, and on Revenue Statistics, were established. Both will be led by India, creating sustained institutional platforms that will continue regardless of the Chairship. The first-ever in-person BRICS Young Tax Professionals Capacity Building Programme, held at the National Academy of Direct Taxes, Nagpur in April 2026, was institutionalised as an annual feature of BRICS tax cooperation. The BRICS Tax Cross-Learning Lab was formally launched, integrating the work of the Client-Centric Administration and HR Practices Working Groups into a joint peer-learning platform. The Terms of Reference of the BRICS Tax Support Network was also approved.

The meeting concluded with the formal signing of the BRICS Tax Progress Report 2026, the complete record of India’s Chairship of the BRICS Tax track. The People’s Republic of China was welcomed as the incoming Chair of the BRICS tax cooperation track for 2027.

The Heads of Tax Authorities lauded the Government of India for the successful organisation of the meeting and for the quality and depth of India’s Chairship of the BRICS tax track.

****

United Kingdom
Source: www.politicsonline.co.uk

Egypt, represented by the Egyptian Tax Authority (ETA), will participate on Monday in meetings of tax experts and heads of tax administrations from BRICS countries, hosted by India from 21 to 23 September as part of its 2026 BRICS presidency, with representatives of tax administrations from member states taking part.

Rasha Abdel Aal, Head of the Egyptian Tax Authority, said Egypt’s participation comes in line with directives from Finance Minister Ahmed Kouchouk to strengthen cooperation with international institutions and groupings, remain open to successful international experiences and practices, and draw on them to develop tax administration and improve the capabilities of its staff, while also sharing Egypt’s experience in development and modernisation with international partners.

She said Egypt’s participation aims to strengthen cooperation and the exchange of expertise, experiences, and best practices among tax administrations in BRICS countries, benefit from international experience in developing tax administration systems, and share Egypt’s experience in areas of mutual interest.

Abdel Aal said Egypt has actively participated, since joining BRICS in 2024, in cooperation between the tax administrations of member states through specialised working groups and technical meetings held throughout the year, aimed at exchanging knowledge and expertise, building capacity, and developing tax practices.

The ETA head added that the three days of meetings represent the culmination of the working groups’ activities and discussions over the course of the year.

The meetings will begin with sessions for tax experts on 21 and 22 September to discuss progress made in various areas of cooperation and future work plans, followed by a meeting of BRICS tax administration heads and experts on 23 September.

Abdel Aal said the agenda covers several key issues, including international taxation and transfer pricing, tax revenue statistics, the modernisation of value-added tax, the use of data sources and technological solutions in tax administration, human resources development, and strengthening taxpayer-centric approaches.

She added that the meetings will also discuss a number of initiatives related to building the capabilities of young employees in tax administrations, strengthening the role of women, and exchanging knowledge and expertise among member states.

Discussions will also address the development of cooperation mechanisms that contribute to the provision of tax information and support the investment environment among BRICS countries.
Abdel Aal said a meeting with India’s Finance Minister is scheduled to take place on the sidelines of the meetings, with the participation of a number of senior Indian tax administration officials.
Several bilateral meetings will also be held with heads of tax administrations from member states to discuss ways to strengthen cooperation and exchange expertise in tax-related areas of mutual interest, as well as benefit from successful experiences and practices in developing tax administration and building capacity, helping support frameworks for cooperation and coordination between Egypt and BRICS countries.

India
Source: indianexpress.com

Despite the diplomatic dividends for India at the summit, there are limits to what this means. A summit declaration does not make India a direct mediator in West Asia

A recent column, “Dear Editor, I Disagree: Dialogue at BRICS is a means, not an end” (IE, September 16), argued for testing the usefulness of multilateral forums such as BRICS on the tangible outcomes they produce and not by the agency they provide for dialogue and diplomacy. The argument falls short, especially in the context of developments surrounding the West Asia war at BRICS 2026.
Iran and the United Arab Emirates (UAE) used the occasion for their first high-level bilateral meeting since the war began. Since the initiation of a dialogue cannot be expected to produce immediate settlements, its value cannot be judged by the ends it may ultimately achieve. The significance of the declaration on West Asia lies not only in what it says, but in the fact that there was a declaration at all. In such conflict, the floor provided by BRICS 2026 represents that a means can be an outcome.

A section of the analysts have compared the BRICS New Delhi Declaration 2026 with the Rio BRICS Declaration 2025. The Rio declaration condemned the military strikes against Iran as a violation of international law and the UN Charter. By the plain measure of textual strength, the Delhi Declaration might seem to be a retreat. Yet, read carefully, the weaker sentence is the more significant achievement, and the reason lies in what changed between the two summits.

In June 2025, Iran was a member of BRICS that had been attacked. Every other member could condemn the attack without contradicting its own position. By February 2026, when the US and Israel struck again, Iran had responded by striking targets across the Gulf, including the territory of its fellow members. The UAE has absorbed more Iranian projectiles than any other Gulf Cooperation Council (GCC) state, and subsequently suspended trade and financial dealings with Tehran. The condemnation formula available in Rio was not available in New Delhi, not because the chair lacked resolve but because the members had become belligerents against one another.

The measure of the Delhi outcome cannot, therefore, be Rio. In May 2026, BRICS foreign ministers met in New Delhi and produced nothing at all. In March, the External Affairs Ministry had publicly conceded the difficulty, noting that members were directly involved in the conflict and that India, as chair, was working the Sherpa channel to narrow differences. Four months after the ministerial failure, 11 members adopted a declaration by consensus. Where they agreed, the language stayed precise, reiterating the importance of the Palestinian question and the two-state solution. Where they disagreed, the language built a floor instead of delivering a verdict.

The diplomatic capital visible at BRICS did not arise in 2026. It has been accumulated over a decade in which the Modi government has altered both the political grammar and structure of India’s engagement with the Gulf — a shift from traditional oil and trade to more strategic spheres of defence, technology, and security. Most consequentially, the Modi years have demonstrated that India’s relationships in West Asia need not be organised as mutually exclusive choices. BRICS 2026 allowed India to position itself as a state capable of understanding the security anxieties of the Arab Gulf without treating Iran’s isolation as an objective, and capable of engaging Iran without appearing indifferent to Gulf security. Relationships cultivated across binaries can themselves become diplomatic assets. Strategic autonomy does more than create manoeuvring room for India; it can create diplomatic room between others.

Despite the diplomatic dividends for India at the summit, there are limits to what this means. A summit declaration does not make India a direct mediator in West Asia. Formal mediation requires acceptance by the parties, a mandate and a negotiating agenda. What Delhi can instead offer is more specific and valuable — trusted channels especially when they are scarce, political access across opposing capitals, and the ability to enlarge the space for accommodation without demanding geopolitical allegiance.

The writer is a former vice-chancellor, Aligarh Muslim University and nominated Member of the Uttar Pradesh Legislative Council

Switzerland
Source: www.who.int

New Delhi, India, 13 September 2026 – Health featured prominently at the 18th BRICS Summit in New Delhi, held under India’s presidency and the theme “Building for Resilience, Innovation, Cooperation and Sustainability”. Leaders reaffirmed their commitment to multilateral cooperation, sustainable development and improved health outcomes.

Addressing heads of state and government, WHO Director-General Dr Tedros Adhanom Ghebreyesus welcomed the adoption of the New Delhi Declaration and highlighted the central role of health in advancing the Summit’s priorities. He called for stronger investment in primary health care, pandemic preparedness, equitable access to health technologies and sustainable health financing. He also reinforced these messages in direct conversations with leaders of BRICS member, partner and outreach countries on the margins of the Summit.

Dr Tedros emphasized the importance of resilient health systems supported by strong surveillance, early warning and response capacities, and welcomed efforts to strengthen local and regional production of health products to improve equitable access to vaccines, diagnostics and treatments. He also welcomed support for concluding negotiations on the Pathogen Access and Benefit-Sharing (PABS) annex to the WHO Pandemic Agreement, underscoring the importance of international cooperation in preparing for future pandemics.

Building on the outcomes of the 16th BRICS Health Ministers’ Meeting in Chandigarh, leaders reaffirmed commitments to strengthen health systems, expand access to medicines and vaccines, advance digital health, address noncommunicable diseases and mental health, and improve preparedness for future health emergencies.

The Summit also endorsed several new mechanisms for health cooperation, including the BRICS Integrated Early Warning System, a strengthened Network of National Public Health Institutes, and new frameworks addressing social determinants of health and healthy lifestyles. Leaders further highlighted the potential of science, research, digital health and artificial intelligence to accelerate progress towards universal health coverage.

As BRICS continues to expand its global reach, WHO looks forward to working with BRICS countries to translate these commitments into concrete action and advance health for all.

India
Source: www.hindustantimes.com

New Delhi, With the BRICS Summit concluding with the New Delhi Declaration, the National Disaster Management Authority has outlined three priorities going forward, including continued cooperation among the members of the bloc, a long-term agenda it hopes China will also engage with when it takes over the BRICS presidency, and greater sharing of best practices between countries.

Speaking to PTI, Krishna S Vatsa, NDMA member and Head of the Department, said the key takeaways for other countries lie in India's record on preparedness and reduction in mortality due to cyclones, along with a larger grassroots-level campaign for strengthening disaster management down to the last mile.

The BRICS New Delhi Declaration introduced two voluntary reference documents to help the member nations coordinate on disasters.

The BRICS Guidelines for Disaster Management Early Warning Data Integration provide a framework for countries to share weather, flood and earthquake-tracking data to improve advanced warning systems. The other document the BRICS Voluntary Principles for Climate-Resilient Urban Infrastructure offers a set of optional benchmarks to help cities factor climate-risk assessments into their local building plans.

Asked how these commitments can be turned into practical rules that work across borders, Manisha Choudhary, national coordinator at the United Nations Environment Programme in India, noted that while effective adaptation is about combining robust scientific assessments and evidence with local, traditional knowledge, involving communities as active participants plays an important role too.

"Institutional capacity, systems and financing play a critical role in delivering adaptation measures on ground. While national frameworks and institutions provide the enabling environment, including policies, standards and resources for action, local knowledge and community participation ensures that solutions are appropriate to the identified risks and grounded in local context," Choudhary told PTI.

"Involvement of the community as active participants in identifying risks, shaping solutions and building resilience plays an important role," she added.
She further highlighted that the challenge is turning shared principles into planning, infrastructure development, investment and implementation of actions across different contexts, moving from risk awareness to risk-informed development.

"This means climate and disaster-risk information should influence where and how we plan cities, infrastructure and public services, and how we invest and prioritise vulnerable communities. It requires stronger links between climate-risk information, disaster-risk reduction, urban planning, financing and governance at all levels, essentially a whole-of-governance approach," the UNEP official told PTI.

The UNEP India supported the NDMA as a knowledge partner under India's BRICS chairship in 2026. It contributed technical expertise across several disaster-risk-reduction workstreams, bringing a global perspective on climate resilience, urban planning, nature-based solutions, urban heat and resilient infrastructure into BRICS knowledge products and technical discussions, according to the UNEP.

At the local level, the UNEP supported the NDMA and the Coalition for Disaster Resilient Infrastructure in developing a framework for climate-resilient, climate-smart and inclusive infrastructure systems for the BRICS countries, including technical inputs on climate resilience, urban heat and nature-based solutions.

The UN body is also working at the sub-national level across states, such as Tamil Nadu, Odisha, Maharashtra and Delhi, to demonstrate replicable and scalable models of community-based adaptation, particularly in sustainable building design and passive cooling solutions.

Asked about the biggest challenge in implementing a community-based, people-centric approach, Choudhary said awareness remains the first and foremost hurdle.

"The first and foremost is awareness at all levels, as actions for effective adaptation require a whole-of-government and whole-of-society approach. The starting point is to generate awareness of potential risks, challenges and possible alternative solutions relevant to the local context," she said, adding that the next step would be to plan action and build capacities to implement solutions on the ground, while also bridging the finance gap.

Russia
Source: valdaiclub.com

Opportunities for BRICS and the SCO Aligning in Greater Eurasia

Given the difficulty of launching rigid formats of integration, in the case of forming the space of Greater Eurasia through the convergence of the policies and projects of BRICS, the SCO, and also other interested players and organisations, multi-level and multi-speed cooperation could work well, writes Viktoria Panova.

The past month of summit diplomacy involving the Global Majority has arguably been the most unsettling for outside parties. After all, neither BRICS nor the SCO includes representatives from Western nations in any capacity. Consequently, the potential for further deepening cooperation among the Global Majority countries across these various platforms holds special significance for the future global order. The Greater Eurasia initiative is also of particular importance, as are the opportunities arising from the alignment of BRICS and SCO cooperation projects.

The concept of Greater Eurasia is built around a simple yet ambitious premise: the vast region spanning from Eastern Europe and Central Asia to the Middle East, India, China, and Southeast Asia relies on a system of interconnected frameworks for cooperation. In this context, a key role in shaping this space falls to structures that, on the one hand, help establish rules governing both their own interactions and, potentially, those of a wider group of nations; and, on the other, include members committed to creating an integrated zone of prosperity and security across the Eurasian continent.

Two pillars—one continent

BRICS and the SCO have the potential to become complementary pillars of Greater Eurasia. BRICS represents global economic, financial, and political reach, while the SCO serves as a regional framework for security, transport connectivity, and political dialogue. There is no need to artificially merge these two mechanisms; rather, the focus could be on creating a network of joint projects—and potentially, in specific instances, institutions and rules—that would eventually be open to other non-Western entities, such as the EAEU or ASEAN.

The SCO was historically formed as a regional platform for strengthening security and combating terrorism, extremism and separatism. Gradually, its spheres of interaction were expanded to transport, energy, trade and investment. If we speak of BRICS, it is a global, trans-regional structure that has gradually been asserting itself more and more loudly in laying claim to active global reform, the building of a new model of cooperation, the strengthening of global trade, and the enhancement of the role of the countries of the global majority in value-added chains, in technology transfer and in sustainable development. At the same time, the core participants in both mechanisms coincides: we are talking about Russia, India, Iran and China. The Chinese researcher Jiang Tianjiao believes that the SCO will in future be transformed from a platform for coordinating security into a comprehensive framework of governance with an even stronger focus on the economy and mature mechanisms of internal balance. At the same time, he agrees with the general premise that BRICS will continue to strengthen as the core for coordinating the efforts of the global majority, with a further deepening of cooperation in the monetary and financial sphere and in the sphere of non-traditional security challenges. It would seem that each has its own goal and tasks, albeit with the prospect of expansion. However, combining potentials may yield a different sum than mere addition.

When 2+2 can equal 5

Given their different models of interaction and the fact that the associations have different inherent aims, there is a whole series of issues where the potential for synchronising the work of BRICS and the SCO could yield the greatest result. Let us begin with the most complex yet fundamental sphere—finance. De-dollarisation is not an end in itself within BRICS; nevertheless, more than 10 years ago the association’s participants adopted a framework for the use of national currencies, and today 67% of all intra-BRICS trade is already conducted in national currencies. Work continues on creating an alternative payment system and on the technical parameters of a new investment platform. And although no breakthrough on this issue occurred following the Delhi summit, the general determination to achieve the goal of securing the conditions for sovereign and equal development was confirmed (in circumstances where both the dollar itself and tariffs continue to be used by Washington as weapons and a means of blackmail, even against those who would very much like to preserve the status quo in relations with Western countries; no other options for action remain), marking the final transition from political coordination to technical fine-tuning.

The SCO summit in Bishkek, among other things, also noted the leaders’ commitment to “the further implementation by interested SCO member states of the roadmap for the gradual increase of the share of national currencies in mutual settlements”. And a year earlier, the SCO Development Strategy until 2035 had been adopted, which likewise set out the tasks for deepening practical cooperation in the spheres of trade, economy, finance and investment.

Accordingly, a synchronised expansion of the use of national currencies in mutual settlements, as
well as the involvement of all SCO participants in BRICS efforts to develop an alternative payment mechanism, would help to test-run the capabilities of such a payment system across a broader number of global majority countries.

We also recall that even as long ago as last year, a decision was taken at the Tianjin summit to establish an SCO bank, although technically it has still not become operational. Despite the restrictions that persist to this day, imposed by the Western-centric system itself on the operation of the New Development Bank, an alternative path to the stalled launch of the SCO bank could be the gradual participation of non-BRICS members in the NDB.

Another sphere is that of security. For the SCO it is more primary and organic, whereas within BRICS any undue emphasis on questions of military-political coordination is intentionally avoided. Thus, while periodic joint exercises are natural for the SCO (the most recent counter-terrorism exercises took place in Iran in December last year—Sakhand Anti-Terror 2025), we recall that the Will for Peace 2026 exercises initiated by South Africa at the beginning of this year and initially positioned as a “BRICS plus” format failed to attract all the members. Nevertheless, a certain division of roles, with practical cooperation on the part of the SCO and a theoretical framework and political dialogue on global risks and the coordination of positions of the global majority on the part of BRICS, could offer a workable format. In turn, such mutual complementarity leads to the formation of a safer environment for trade, investment, and the realisation of transport connectivity among the countries participating in both associations.

The SCO’s mission and its very nature as international organisation has been the subject of much debate. Oleg Barabanov, Programme Director of the Valdai Discussion Club, explores one potential source of clues towards the self-perception of the SCO—the organisation’s founding documents and ample summit declarations.

Questions of global governance themselves are, in turn, more organic to BRICS, yet we see analogous approaches being conveyed in SCO documents regarding the reform of the UN, the IMF and the World Bank, and the enhancement of the role of the Global South. In this case, there is an opportunity to act, within the framework of the existing universal institutions, as a broader platform, with the possibility of involving all BRICS member states and their partners, the SCO countries, including dialogue partners and observers, as well as the countries of the EAEU and ASEAN. Such a unified voice would be difficult to continue to ignore.

Another potential area of convergence is energy and critical resources. Back in 2006, the Russian president proposed establishing an SCO Energy Club within the framework of the SCO, while eleven years later an Energy Research Platform was initiated under the aegis of BRICS. On the one hand, the very format of these institutions does not imply a serious coordination of the positions of the participating countries; on the other hand, it is at the very least an opportunity to regularly compare notes on the most sensitive issues for both producers and consumers of energy within these mechanisms, identifying the most promising paths towards ensuring a just energy transition, while taking into account the sovereign interests and particular characteristics of all the participating countries. Moreover, in a format of convergence, what may be at stake is not only, and not so much, ensuring the resilience and security of supplies and the development of regional networks, but, when combined with questions of critical minerals, one can speak of creating value-added chains (incidentally, this was precisely one of the points emphasised at the most recent BRICS summit in Delhi): deeper processing, the manufacture of equipment, the development of joint technological standards, and so on.

Ensuring digital connectivity and fostering cooperation in the field of artificial intelligence could also prove to be crucial. Last year in Rio de Janeiro, BRICS leaders adopted a declaration on global AI governance; more recently, ahead of China assuming the BRICS chairmanship, Xi Jinping proposed an initiative to establish an international AI centre, advocating for the “development of open-source AI in a spirit of cooperation and sharing”—all in addition to the World AI Cooperation Organisation (WAICO) previously initiated by China. Furthermore, a shared agenda could encompass secure data exchange channels, digital trade documents, and interoperable payment standards. While each individual initiative warrants detailed study, one thing is certain: for BRICS and SCO nations—and the Global Majority at large, characterized by widely varying levels of technological development—what matters is not closed platforms but open rules that prevent the creation of new dependencies on any single centre of power.

Other areas of potential convergence of policies and approaches, as well as work on concrete joint projects, could also include the development of transport connectivity, the ensuring of food security and the creation of joint strategic reserves, climate resilience projects, and many other points of interest.

The guiding principle is multi-level and multi-speed integration

Given the difficulty of launching rigid formats of integration, in the case of forming the space of Greater Eurasia through the convergence of the policies and projects of BRICS, the SCO, and also other interested players and organisations, multi-level and multi-speed cooperation could work well. Incidentally, despite the fact that further expansion within BRICS is for the time being rather counterproductive, a gradual involvement not of individual countries as partners, but of entire regional organisations, could serve as an alternative. Recently, certain experts have begun to express the view that it would be advisable to involve the AU in the work of BRICS (by analogy with its earlier involvement in the work of the G20); possibly, such a Solomonic solution could in the future indeed prove to be the inclusion in the work of the association not only of the AU, but also the SCO, ASEAN, the Arab League, CELAC and other organisations composed of representatives of the global majority.
This would fully correspond to the logic of multipolarity and equal development. If we return from the global to the Eurasian level, then such an approach, together with multi-level cooperation on individual projects, could correspond to the spirit of Eurasian partnership—a space with several centres of power, diverse economies, different foreign-policy orientations and several cultural-civilisational codes. If we follow this logic, Greater Eurasia could become one of the key centres of the future polycentric architecture of the world, where BRICS and the SCO are pillars of the future world order.

India
Source: www.aninews.in

New Delhi [India], September 23 (ANI): Finance Minister Nirmala Sitharaman on Wednesday said decisions taken in ongoing multilateral tax negotiations over the next few years would shape cross-border taxation for a generation, stressing that BRICS economies must ensure their perspectives are reflected in the emerging global tax framework.

Addressing the BRICS Tax Heads Meeting in New Delhi, Sitharaman said the rules of international taxation were being renegotiated through several multilateral processes, including the UN Framework Convention on International Tax Cooperation.

"The decisions made in these processes over the next few years will shape cross-border taxation for a generation," she said.

Sitharaman said BRICS economies, as source jurisdictions and large developing economies that have built significant domestic tax capacity from a low base, had an important perspective to bring to these negotiations.

"BRICS economies as source jurisdictions, as large developing economies, as countries that have built significant domestic tax capacity from a low base have a perspective on those negotiations and that is essential to their fairness and their durability," she said.

The Finance Minister said the cooperation among BRICS tax administrations was aimed at creating institutions and tools that would continue beyond India's current chairship.

"These working groups exist because every country in this room has experienced these problems. They create the sustained institutional space in which progress on them becomes possible. Not in one year, but over time, regardless of who holds the chair," she said.

Sitharaman said the new working groups on international taxation and transfer pricing, and revenue statistics, were intended to address common challenges faced by member countries.

She also highlighted India's experience in using technology in tax administration, including faceless assessment, pre-filled returns, real-time invoice authentication and AI-enabled taxpayer assistance.
"Technology, the use of data and digital infrastructure to make tax administration more precise, more accessible, and less dependent on the discretionary powers of individuals," she said, identifying one of the key themes emerging from BRICS tax cooperation.

Sitharaman said the BRICS tax collaboration tool, tax knowledge hub and cross-learning lab were being developed as practical instruments rather than merely policy initiatives.

"The tax collaboration tool, the tax knowledge hub, the cross-learning lab, each of these is a working instrument produced by sustained effort across our working groups," she said.

Revenue Secretary Arvind Shrivastava said the proposed International Taxation and Transfer Pricing Working Group would create a permanent BRICS platform for sharing experience on treaty interpretation, transfer pricing audits and other tax mechanisms.

"The International Taxation and Transfer Pricing Working Group creates a permanent BRICS platform for sharing experience," Shrivastava said, adding that in multilateral tax negotiations, "our collective voice is needed and currently insufficient". (ANI)