BRICS leaders meet in New Delhi as the bloc pushes de-dollarisation
Xi Jinping's first visit to India in seven years headlined the 18th BRICS Summit, where leaders discussed cross-border payments in national currencies.
The 18th BRICS Summit was held on 12 and 13 September at New Delhi's Bharat Mandapam convention centre, bringing together leaders from Brazil, China, Egypt, Ethiopia, Indonesia, India, Iran, Russia, Saudi Arabia, South Africa and the UAE.
Chinese President Xi Jinping's presence marked his first visit to India in seven years. Indian Prime Minister Narendra Modi also held closed-door bilateral meetings with Russian President Vladimir Putin and Iranian President Masoud Pezeshkian on the summit's sidelines.
Cross-border payments in focus
The closed-door plenary session focused heavily on expanding cross-border payments in national currencies, aimed at reducing reliance on Western-led financial systems, alongside efforts to give more Global South countries a voice in the bloc.
BRICS now represents more than 40% of the world's population and nearly a quarter of global GDP.
Indonesia, Singapore's closest neighbour, attends BRICS as a partner country rather than a full member, part of the bloc's wider push to expand its footprint across the Global South.
