BRICS finance ministers and central bank governors called for reforms to global development financial institutions, arguing that governance should better reflect the growing weight of emerging market economies.
They also backed work on more efficient, lower-cost and secure cross-border payment systems. The discussion is especially relevant as member states explore ways to reduce friction in trade settlement without creating a single common currency.
For India, the issue connects two long-running priorities: greater voice for developing countries in institutions such as the IMF and World Bank, and building interoperable digital-payment infrastructure across borders.