BRICS Summit Outcomes: Trade, Finance, Infrastructure
The BRICS summit in New Delhi became not just another diplomatic meeting but an important step towards building a fairer and more multipolar financial system. At a time when the global economy faces challenges, cooperation among Global South countries is of particular importance, opening new opportunities for development and mutually beneficial partnership.
During the two-day summit, the possibility of creating a payment system that would allow participating countries to settle directly in their own currencies to simplify the process was discussed. This initiative was highly praised by business representatives from various countries present at the event.
"We, as a BRICS country, must be independent from the US and its control over the economy and payment systems, because that is the essence of BRICS. BRICS is the BRICS countries," said Vivian Reddy, executive chairman of Edison Corporation, a South African company engaged in electrical and infrastructure work.
"We export a lot, and certainly if we can trade directly with a country in a currency we hold, both countries will benefit," said Archit Gala, president of Navneet Education Limited, an Indian company producing children's books.
BRICS provides a platform for countries with different development paths, allowing them to pool resources, industry and technology to achieve common growth. A key element of these efforts is financing, with the New Development Bank offering affordable long-term financing to help turn development ambitions into reality. Established in Shanghai by the original BRICS members, the bank has mobilised billions of dollars for infrastructure and environmental projects, approving $42.9 billion for 140 initiatives by the end of the first quarter of 2026.
In India, the bank financed a high-speed rail system called "Namo Bharat," offering a sustainable alternative for travel between regional centres. In Russia, the NDB supported the modernisation of more than 3,500 locomotives in the Russian Railways network, making freight transport more efficient and less energy-intensive. In Brazil, an NDB-funded water supply project provides piped water to more than 120,000 people in 16 municipalities of Paraíba state, many of which currently have access to piped water only part of the year. In South Africa, NDB financing helped increase energy capacity by about 1,600 megawatts across eight provinces, providing about 7,500 gigawatt-hours of electricity annually and reducing carbon dioxide emissions by millions of tonnes.
These efforts point to the broader value of BRICS: it not only gives Global South countries a stronger voice but also creates practical opportunities for countries to access financing, technology and cooperation tailored to their development needs.
This year marks the 20th anniversary of BRICS. Originally comprising Brazil, Russia, India and China, South Africa later joined. Today the bloc has 11 member states and 10 partner countries, becoming the world's most influential platform for cooperation among emerging markets and developing countries.
As reported by CCTV+, the conclusion of the 18th BRICS Summit in New Delhi confirmed the commitment of participating countries to strengthening multipolarity and creating practical cooperation mechanisms. The discussion of a payment system in national currencies and the successful projects of the New Development Bank demonstrate that BRICS is becoming a real force capable of responding to modern challenges and opening new horizons for the Global South.
