India is advocating for the integration of central bank digital currencies (CBDCs) among BRICS nations to facilitate cross-border payments, ahead of the bloc’s leaders summit scheduled in New Delhi on September 12-13. According to individuals familiar with the discussions, the initiative seeks to link the official digital currencies of BRICS members, aiming to enhance the efficiency of cross-border trade.

India currently holds the chairmanship of BRICS, which includes Brazil, Russia, China, South Africa, and India itself, alongside several other member states such as Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates. The proposal to link CBDCs was initially laid out by the Reserve Bank of India (RBI) earlier this year and is expected to be a central topic in the upcoming summit.

This effort builds on the 2025 BRICS declaration from the Rio de Janeiro summit, which emphasized the importance of fostering interoperability across members’ payment systems to reduce friction in international transactions. However, the global adoption of CBDCs remains limited, posing technical challenges to implementing a fully integrated cross-border payment mechanism.

Experts note that progress on such financial integration within BRICS has historically been slow, reflecting the complexity of coordinating monetary infrastructure among a group with diverse economic frameworks and political interests. Internal geopolitical tensions further complicate these discussions. For instance, ongoing disputes between Iran and the United Arab Emirates, including a severing of financial ties by the UAE, present significant obstacles to cooperation.

Relations between India and China also constitute a major challenge. While both nations are pivotal BRICS members, India has expressed caution toward deepening financial linkages with China, citing national security concerns. Notably, India previously halted a proposal involving Alipay+—a Chinese payment platform—from linking with its instant payments system, reflecting broader hesitations regarding reliance on Chinese financial technology.

Representatives from India’s external affairs and finance ministries as well as the RBI did not respond to requests for comment. As BRICS leaders convene, India’s push to interconnect CBDCs highlights both growing interest in digital financial integration and the complex geopolitical and technical landscape shaping its feasibility.