India, Sept. 6 -- The NDB is augmented by the BRICS Contingent Reserve Arrangement (CRA), which provides a framework for protection against global liquidity pressures. BRICS Pay, if it comes through as part of the larger framework, has the potential to serve as an alternative to the global SWIFT banking system.

India assumed the BRICS presidency at the dawn of 2026, taking over from Brazil for its fourth term. The grouping, which initially focused primarily on investment opportunities, has now transformed into a vibrant intergovernmental organisation that envisages a greater footprint through financial institutions, energy security and efforts to bridge the North-South divide. This edition focuses on the theme of "Building for Resilience...