India’s central bank has proposed linking BRICS central bank digital currencies to support cross-border trade and tourism payments, according to a Reuters report.
The Reserve Bank of India has suggested placing CBDC interoperability on the agenda for the 2026 BRICS summit, which India is set to host.
Sources cited by Reuters said the proposal would mark the first formal discussion of central bank digital currencies within the BRICS bloc.
BRICS comprises Brazil, Russia, India, China and South Africa, all of which are exploring or piloting sovereign digital currencies.
The proposal is intended to reduce costs and friction in cross-border payments, though discussions remain at an early stage.
Reuters reported that progress would depend on agreements covering technology standards, governance structures and settlement mechanisms.
The idea builds on payment cooperation discussed at the 2025 BRICS summit in Brazil, which focused on improving transaction efficiency.
For India, the plan aligns with efforts to expand international use of its digital currency, the e-rupee.
The RBI has previously said the e-rupee has attracted millions of users and could benefit from links with other national digital currencies.
Officials have stressed that the initiative is focused on efficiency rather than replacing the US dollar.
BRICS members have repeatedly denied plans to create a common currency or challenge dollar dominance.
In January 2025, Russia said BRICS cooperation was centred on trade and investment rather than a dollar alternative.
Brazil has also played down speculation about a unified BRICS currency, reiterating support for gradual payment system improvements.