Image Credit: The Economic Times

Jan 24, 2024

India and Russia Forge Digital Alliance in BRICS Push

By: Bhumi Shrivastava

India and Russia join forces to build a robust digital ecosystem, signaling enhanced collaboration within the BRICS alliance.

Strengthening BRICS Ties

Image Credit:  Reuters

The partnership emphasizes the development of modern infrastructure, with a particular emphasis on advancing a shared digital economy.

Focus on Modern Infrastructure

Image Credit:  CIO

Speculations arise about the possibility of a BRICS indigenous currency, rumored to be blockchain-based, as both nations dedicate themselves to this initiative.

Rumors of a Blockchain-based Currency

Image Credit:  Springwise

The BRICS alliance gains attention with a six-country expansion plan, setting the stage for potential groundbreaking developments in 2024.

BRICS Expansion Plan Unveiled

Image Credit:  Global Times

Russia and India aim to become leaders in information technology and the digital economy, according to statements from Sergey Cheremin.

Progress in the Digital Economy

Image Credit:  Information Age

The economic alliance introduces BRICS Pay to challenge the Western SWIFT payment system, offering alternative options within the BRICS framework.

BRICS Pay System Challenges SWIFT

Image Credit:  Business Forward  AUC

Ongoing adoption of digital economies within the alliance may further advance BRICS' goal of reducing dependence on the US dollar.

Digital Economies and BRICS' Pursuit

Image Credit:  CNBC