Not BRICS currency, India set to pitch cross-border digital payment system

India is likely to pitch a cross-border digital payment system at the 18th BRICS Summit, scheduled to be held in New Delhi on September 12 and 13, government sources aware of the matter said.

A senior government official clarified that de-dollarisation or the creation of a BRICS currency is not currently on India’s primary agenda. Instead, the focus is on developing a cross-border digital payments ecosystem that can facilitate transactions among member countries using their respective national currencies.