Russian President Vladimir Putin says international interest in BRICS continues to grow as the expanded grouping develops deeper trade links and financial infrastructure outside traditional Western-led systems. Speaking at the BRICS summit in New Delhi, Putin pointed to growing membership, $1.2 trillion in intra-BRICS trade and proposals for new cross-border payment mechanisms.
INR Report: Based on reporting by RT HERE
BRICS Looks Beyond Its Original Five Members
International interest in BRICS "continues to grow" as its values and independent approach attract countries around the world, Russian President Vladimir Putin told the BRICS Outreach/BRICS Plus session concluding the group's 18th summit in New Delhi.
Putin pointed to broad participation at the summit as evidence of the organisation's expanding appeal. "Our basic values and ideals, such as commitment to an independent and autonomous course and the desire to resolve problems collectively based on international law and the key provisions of the UN Charter, appeal to many around the world," he said.
BRICS has expanded substantially beyond its original membership of Brazil, Russia, India, China and South Africa, while also establishing a partner-country category for nations seeking closer cooperation without becoming full members. Putin described the grouping as "one of the powerful driving forces" behind what he called "genuine multilateralism" and the development of a "new, fairer multipolar world order."
Trade and Payments Move Up the Agenda
According to figures presented by Putin, trade between BRICS members has reached $1.2 trillion, while member countries account for almost a quarter of global exports and 49 percent of global GDP growth. "The potential for the further development of BRICS is far from exhausted," he said, pointing to opportunities involving production chains, technology, services and new markets.
Putin said BRICS members were also developing independent channels for moving goods, services and capital, allowing commercial and financial operations to continue "without paying attention to external pressure." He called for further work on BRICS payment and settlement-depository infrastructure, together with proposals for a reinsurance mechanism and grain exchange.
Some practical steps are already being explored. RT reports that the Russian Direct Investment Fund, BRICS Pay and BRICS Pay India agreed ahead of the summit to examine integration of the BRICS Pay platform with India's existing infrastructure and prepare pilot cross-border payment projects.
A BRICS-wide payment system has not yet been launched. The New Delhi Declaration instead states that the BRICS Payment Task Force will continue examining practical solutions for facilitating cross-border transactions.
Does This Affect New Zealand?
Potentially. China and India are major trading partners for New Zealand, while the continued expansion of BRICS could gradually alter the financial and commercial environment in which New Zealand exporters operate.
The immediate development is not the creation of a new BRICS currency, but the construction of alternative mechanisms for trade, payments and settlement. If those systems eventually become widely used across major emerging economies, New Zealand businesses trading with BRICS countries may increasingly encounter financial channels operating alongside traditional Western-dominated payment networks.
For New Zealand, the significance lies in watching whether BRICS develops from a diplomatic grouping into a more integrated economic and financial network. With some of the world's largest economies at its centre, any substantial shift in how those countries trade and settle international transactions could eventually have implications for a small, trade-dependent economy in the Asia-Pacific.
Source
RT, 13 September 2026: Global interest in BRICS keeps growing – Putin
Independent reporting. Original context. Credited sources.