Ashmit Kumar

Jeffrey Sachs said growing concerns over the use of US financial infrastructure for sanctions are pushing BRICS members to explore alternatives. India-Russia trade is increasingly being settled in local currencies, while China is expanding renminbi usage. Sachs believes a multicurrency payments framework is technically achievable and could give BRICS economies greater protection from unilateral financial pressure.

The BRICS grouping could use its collective influence to push for concrete initiatives through the United Nations, Sachs said. He suggested India lead an ICT-focused development initiative, China spearhead green transformation efforts and Brazil take the lead on rainforest protection. Beyond geopolitical statements, such projects could help BRICS strengthen multilateral institutions and demonstrate practical cooperation across key global challenges.

FT's Martin Wolf says China is too important to global manufacturing for India to exclude it, even as New Delhi remains wary of becoming too dependent on Beijing.

FT's Martin Wolf says BRICS nations can expand local-currency trade, but the dollar's deep and liquid capital markets make it difficult to replace in global finance.

Martin Wolf, Chief Economics Commentator at the Financial Times, says US President Donald Trump's policies have unintentionally strengthened the case for BRICS cooperation by creating uncertainty worldwide. However, Wolf remains cautious about the grouping's ability to act as a coherent bloc, citing tensions between members and questioning how much BRICS can achieve independently of other major economies.

Martin Wolf, Chief Economics Commentator at the Financial Times, says US President Donald Trump’s policies have unintentionally strengthened the case for BRICS cooperation by creating uncertainty worldwide. However, Wolf remains cautious about the grouping’s ability to act as a coherent bloc, citing tensions between members and questioning how much BRICS can achieve independently of other major economies.

FICCI President Anant Goenka said BRICS can help India diversify supply chains, deepen investment and technology ties, and expand digital payments across emerging markets.

Sergey Dvoryanov, VP and Director of Communications at the BRICS Culture Media Forum, highlighted opportunities for deeper India-Russia cooperation across nuclear power, defence, security and high technology. He said the broader focus should be on building a multipolar global order. “The most important is to develop this concept of multipolar world,” Dvoryanov said.

Former Indian Ambassador DP Srivastava and Eurasia Group's Pramit Pal Chaudhuri believe BRICS can play a bigger role in addressing global conflicts, strengthening economic cooperation and amplifying the voice of the Global South amid rising uncertainty.

Deep Pal of Koan Advisory Group and former Indian Ambassador Manjeev Singh Puri say BRICS should focus on economic cooperation and shared interests despite political differences, as the US watches the grouping's growing influence and major announcements remain unlikely.