Foreign Affairs
BRICS discussions on trade within national currencies, Foreign Secretary Kwatra

New Delhi

Foreign Secretary Vinay Mohan Kwatra has emphasized that the 15th BRICS summit focuses on trade within the national currency, as there are several conditions for discussing a common currency. He stated that the framework of discussions in BRICS is focused on trade within the national currency and that the BRICS FTA is political and technical.

He also stated that India has a positive intention for the expansion of BRICS and supports it with an open mind. The summit is chaired by South Africa, which is holding its first face-to-face summit since 2019 in Johannesburg from August 22–24.

South Africa became the Chair of BRICS on January 1 under the theme “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism.” Prime Minister Narendra Modi will attend the 15th BRICS summit at the invitation of South African President Matamela Cyril Ramaphosa. After the summit, Modi will visit Greece on August 25.

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