World Economy

India to Champion Digital Currency Payments Across BRICS

India will advocate for expanded use of central bank digital currencies to settle cross-border transactions among BRICS member nations, according to officials briefed on the initiative. The push stops short of endorsing a unified payments infrastructure that could undermine the U.S. dollar's dominance in global trade. New Delhi's strategy seeks to enhance financial connectivity among the five-nation bloc while preserving existing international monetary structures. Digital currency adoption would streamline settlement processes and reduce reliance on traditional intermediaries for intra-BRICS commerce. The initiative reflects incremental modernization of payment systems rather than wholesale restructuring of global financial architecture.