India to Push CBDCs and Cross-Border Digital Payments at Upcoming BRICS Summit

New Delhi: India is preparing to place digital finance at the centre of discussions with its BRICS partners, with the country expected to advocate wider adoption of central bank digital currencies (CBDCs) and smoother cross-border digital payments at the upcoming summit.

The initiative reflects New Delhi’s growing focus on using digital payment infrastructure to strengthen economic links between BRICS economies. India is also expected to raise the broader issue of achieving more balanced trade within the grouping, according to people familiar with the discussions.

The BRICS summit, which India is scheduled to host on September 12 and 13, will provide a platform for member countries to discuss ways of improving economic cooperation. For India, digital payments are emerging as one of the areas where practical cooperation could potentially deliver benefits across borders.

Digital currencies move up the BRICS agenda

CBDCs are digital forms of national currencies issued by central banks. Unlike privately issued cryptocurrencies, they remain under the authority of monetary institutions.

India has been developing its own digital rupee through the Reserve Bank of India and has increasingly explored how digital payment technology could be used beyond domestic transactions. Earlier discussions within the BRICS framework have also considered connecting members’ digital currencies to make international payments more efficient.

The latest proposal would take that conversation into the broader BRICS agenda, with India seeking support for systems that can enable faster and more seamless digital transactions between participating countries.

A successful framework would require countries with different financial systems, regulations and payment infrastructures to work together. Interoperability—the ability of separate digital payment networks to communicate and settle transactions—is therefore likely to be an important consideration.

Focus on easier international payments

Cross-border payments can involve multiple intermediaries, currency conversions and settlement procedures. India’s push for greater use of CBDCs is aimed at exploring whether digital central-bank money can help simplify some of these processes.

The idea is particularly relevant for trade and other international transactions involving BRICS economies. If national digital currencies can eventually operate through compatible systems, businesses and financial institutions could potentially benefit from more direct payment channels.

India has already positioned digital payments as an important part of its BRICS priorities. Earlier this year, the country indicated that seamless CBDC-based cross-border payments would be among the issues it wanted to advance during its BRICS presidency.

However, turning the concept into a functioning multinational system would require substantial coordination. Member countries would need to address technical compatibility, regulatory standards, settlement arrangements and safeguards against financial risks.

Trade balance also on India's radar

India’s agenda is not expected to be limited to payment technology. New Delhi also wants BRICS members to discuss ways to create a more balanced pattern of trade within the grouping.

The issue is significant because BRICS economies have different trade structures and varying levels of bilateral trade with one another. India has increasingly sought mechanisms that can support more equitable economic engagement while reducing friction in international transactions.

The CBDC proposal could complement that objective by creating more efficient financial channels for trade. Rather than treating digital currencies simply as a technological innovation, India appears keen to connect them with broader economic cooperation.

Part of a wider financial transformation

India’s interest in CBDCs comes as central banks worldwide examine how digital forms of sovereign money could fit into future payment systems.

The Reserve Bank of India has been testing the digital rupee in both retail and wholesale settings. The country is also moving toward wider experimentation with tokenised financial assets. A planned tokenised corporate bond issue is expected to use wholesale CBDC infrastructure for settlement, illustrating how central-bank digital money could become part of a broader digital financial ecosystem.

At the international level, BRICS countries have already discussed improving payment interoperability and increasing the use of national currencies in trade. India’s CBDC proposal could therefore become another component of those efforts.

Importantly, the proposal does not necessarily mean the creation of a single BRICS currency. Instead, the emphasis is on improving the ability of existing national currencies and digital payment systems to work together.

What comes next

The precise issues that will reach the leaders’ table are still being finalised. The CBDC and cross-border payments proposal is therefore part of an evolving agenda rather than a completed agreement.

For India, the summit represents an opportunity to showcase its experience with large-scale digital payments while encouraging partner countries to explore common standards.

If BRICS members can reach agreement on practical steps toward interoperability, the initiative could eventually help create more efficient channels for cross-border transactions. But achieving that outcome will depend on technical cooperation, regulatory alignment and sustained coordination among participating central banks.

India’s push demonstrates how the BRICS economic agenda is expanding beyond traditional trade and investment discussions. Digital currencies, payment connectivity and financial technology are increasingly becoming part of the bloc’s efforts to build stronger economic links among its members.