Advertisement
  1. Home
  2. Explainers
  3. BRICS beyond the Dollar: How India is leading the bloc into avenues of AI, digital payments, quantum tech

BRICS beyond the Dollar: How India is leading the bloc into avenues of AI, digital payments, quantum tech

Written By: Ashish Verma
Published: ,Updated:

Under India’s chairship, BRICS is seeking to deepen cooperation in digital payments, artificial intelligence, digital public infrastructure, quantum technology, semiconductors, startups and other emerging technologies.

BRICS Summit 2026
BRICS Summit 2026 Image Source : ANI
New Delhi:

The 2026 leg of the BRICS Summit stands out in more ways than one, mainly because of how India, the hosting nation, is steering the agenda and goals away from conventional geopolitics and trade into new realms of digital payments, AI innovation, quantum technology, and more to make the bloc sustainable in the wake of global issues born out of conflicts and to navigate around the conflicts that arise out of tussle between the big players, particularly the West.

Till now, the BRICS grouping has been widely seen through the lens of geopolitics and economics, a platform that seeks greater representation for emerging economies and a larger role for the Global South. India is out to bring about a paradigm shift by increasingly moving beyond the traditional debate over the US dollar.

Under India's chairship, BRICS is seeking to expand cooperation in digital payments, artificial intelligence, digital public infrastructure, quantum technology, semiconductors, startups and other emerging technologies.

This change does not mean that BRICS is building a common currency to replace the dollar. Instead, the focus is increasingly on creating alternative systems and infrastructure that could allow member countries to trade, make payments and develop technology sans the traditional power groupings.

A digital payment system beyond the dollar and India's UPI pitch

Speaking at the BRICS Business Forum, Prime Minister Narendra Modi on Friday highlighted UPI as an example of India's ability to deploy technology at population scale. He said UPI accounts for around 50 per cent of the world's real-time payments.

India has been pushing for greater cooperation between BRICS countries on digital payments and local-currency transactions. Commerce Minister Piyush Goyal has called for BRICS nations to link their payment systems, increase trade in local currencies and make digital trade more accessible.

The objective is significant. Rather than creating a single BRICS currency, the bloc could develop systems that make it easier for countries to conduct cross-border transactions using their own currencies and national payment platforms.

BRICS has also been working on the BRICS Cross-Border Payments Initiative, while discussions have included interoperability between central bank digital currencies and other digital payment systems.

BRICS is not trying to replace the US dollar, but rather reduce the dependence that makes the dollar central to global transactions.

How UPI can help

New Delhi is also increasingly presenting its Digital Public Infrastructure (DPI) model as something that can be shared with other developing countries. UPI is one component of this broader architecture. The larger idea is to create interoperable digital systems that can support payments, identity, access to services and financial inclusion at population scale.

This is particularly relevant to BRICS because the grouping has expanded to include a much wider range of emerging economies. Cooperation on digital infrastructure therefore offers India a practical way of presenting technology as a tool for development rather than merely as a geopolitical instrument.

AI at centre of the BRICS agenda

Artificial intelligence is another major area where India's BRICS presidency is seeking to broaden the group's agenda.

India has argued that the benefits of AI should not be concentrated in a small number of technologically advanced countries. For the Global South, the issue is not only how AI should be regulated but also who has access to the computing power, data, talent and infrastructure needed to develop it.

The technology showcase at the BRICS Bharat Innovates Exposition provided a practical demonstration of this approach, according to PIB.

Around 37 Indian deep-tech innovations were showcased at Bharat Mandapam, covering areas including AI, healthcare, quantum computing, space technology, robotics, advanced materials and energy.

Among the technologies displayed were an AI-enabled cervical cancer screening and triage system, AI-based maternal and foetal health monitoring, AI applications in satellite infrastructure, fruit grading technology and robotic warehouse sorting.

The significance lies in the range of applications. AI is being presented not simply as a technology for large technology companies, but as an instrument that can be deployed in healthcare, agriculture, manufacturing and public services.

Quantum technology: Prepping for the next technological leap

India is also using the summit to showcase its ambitions in quantum technology, a field that could have major implications for computing, communications, cybersecurity and scientific research.

PM Modi has identified quantum technology alongside semiconductors, critical minerals and biotechnology as strategic sectors in which India is building domestic capabilities.

The Bharat Innovates exposition featured an Indian 64-qubit quantum processor, as well as an eight-qubit system designed for education and research.

Cooperation in quantum technology could eventually become part of a broader effort to ensure that emerging economies are not dependent on a small number of countries for critical next-generation technologies.

It also marks a significant change in the nature of the grouping's agenda. Traditional BRICS cooperation has centred on trade, finance, infrastructure and development. Quantum technology takes the conversation into the realm of frontier science and strategic technological capability.

Also Read:

The internal fault lines in BRICS: Can the bloc overcome diverging interests to emerge as one global power?

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Explainers
Advertisement
 
\