BRICS summit in New Delhi adopts de‑dollarisation agenda and denounces war

New Delhi, India – At the conclusion of the BRICS summit held in India’s capital, member states issued a joint declaration that emphasised a coordinated push to reduce dependence on the U.S. dollar in international trade and finance. NDTV reported that the document explicitly urged “de‑dollarisation” as a strategic priority for the bloc, highlighting the desire to develop alternative payment mechanisms and strengthen the use of national currencies in bilateral transactions.

The same declaration also contained a clear condemnation of war, referencing the “unjust aggression” that continues to destabilise global peace. While the text stopped short of naming any specific country, NDTV noted that the language aligns with previous BRICS statements that have criticised the conflict in Ukraine and called for a diplomatic resolution.

BRICS, an acronym for Brazil, Russia, India, China and South Africa, was founded in 2009 as a platform for emerging economies to coordinate on political and economic issues. Over the past decade the grouping has increasingly positioned itself as a counterweight to Western‑led institutions, and the New Delhi summit marks the first time the bloc has convened in India. The de‑dollarisation drive reflects a broader trend among several nations to diversify reserve holdings and develop payment systems that bypass the traditional Western‑dominated financial architecture.

India’s hosting of the summit underscores its growing diplomatic clout. By steering the discussion toward monetary reform and conflict resolution, New Delhi aims to showcase its role as a mediator in a fragmented global order. Analysts say the declaration could pave the way for pilot projects such as a BRICS‑wide digital currency or expanded use of the Chinese yuan and Russian ruble in trade, though implementation will depend on bilateral agreements.

The war‑condemnation clause is significant because it signals a rare convergence of the five members on a security issue, despite divergent foreign‑policy stances. If the statement translates into coordinated diplomatic pressure, it may influence ongoing negotiations in Europe and affect the sanctions regime that has isolated Russia.

Overall, the New Delhi declaration blends economic ambition with a call for peace, illustrating how BRICS seeks to reshape both financial markets and geopolitical narratives. The next steps will involve detailed working groups that will draft concrete measures, a process that NDTV expects to monitor closely in the coming months.