India Favors Central Bank Digital Currencies for BRICS Payments

The initiative builds on the declaration adopted at the 2025 BRICS summit in Rio de Janeiro, which called for greater interoperability among member countries' payment systems to improve the efficiency of cross-border transactions.

India will push BRICS nations to expand the use of central bank-backed digital currencies for cross-border payments, while stopping short of supporting a unified payments network that could be seen as a challenge to the dollar, according to people familiar with the matter.