Policymakers reject idea of common currency and warn BRICS could become a ‘talk shop’

Policymakers have dismissed the idea of implementing a common currency for BRICS nations, warning that the group could become merely a ‘talk shop’ if expanded without a clear focus. India is set to take over the chairmanship of the BRICS+ grouping in 2026, as the threat of US ‘protectionism’ looms large, potentially disrupting years of multilateral consensus. Instead of pursuing the common currency idea, policy expert Ahluwalia emphasized the importance of practical cooperation. He suggested focusing on initiatives like free trade agreements and sharing knowledge in sectors such as energy and digital systems.