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● LIVE Updated 1h ago · 25 sources tracked

Brics on the rise

President Xi Jinping has proposed the creation of a BRICS open-source AI community to expand Chinese technology cooperation and compete with United States influence. Simultaneously, India is calling for stronger banking infrastructure and the expansion of vostro accounts to facilitate trade settlements in local currencies. These moves follow previous BRICS commitments to establish coordinated global AI rules and crack down on scam compounds. The bloc continues to prioritize digital innovation and financial independence to stabilize global affairs and reduce reliance on Western systems.

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What changed

The bloc added specific proposals for an open-source AI community and expanded banking infrastructure for local-currency trade.

Live updates

  1. Xi Jinping proposes open-source AI zone as India pushes for banking reforms

    President Xi Jinping has proposed the creation of a BRICS open-source AI community to expand Chinese technology cooperation and compete with United States influence. Simultaneously, India is calling for stronger banking infrastructure and the expansion of vostro accounts to facilitate trade settlements in local currencies. These moves follow previous BRICS commitments to establish coordinated global AI rules and crack down on scam compounds. The bloc continues to prioritize digital innovation and financial independence to stabilize global affairs and reduce reliance on Western systems.

    Why it matters

    BRICS seeks to reduce reliance on the US dollar and Western tech monopolies. These initiatives align with the group's broader goal of unifying the Global South. Recent efforts include new programs for digital agriculture and logistics under India's presidency.

    Still unconfirmed

    • President Xi Jinping proposed a BRICS open-source AI community to compete with the U.S. for global AI influence.
    • India wants BRICS members to expand vostro accounts and strengthen banking links to ease local-currency trade settlements.

    What to watch next

    • Formal adoption of the open-source AI community proposal.
    • Implementation of expanded vostro accounts among member banks.
    • Updates on coordinated global AI rules mentioned in previous summits.
    Sources used for this update (4)
    1. www.theverge.com — RAM price hikes: the latest on the global memory shortage
    2. www.techrepublic.com — President Xi Jinping Proposes BRICS AI Open-Source Zone as China Expands Tech Influence
    3. www.cnbctv18.com — India says BRICS local-currency trade needs stronger banking infrastructure
    4. news24online.com — Rajasthan Municipal Election Result 2026: BJP wins 41% of seats, Congress 35% in urban body polls; PM Modi calls victory ‘triumph of truth over lies’
    confidence 80%

  2. BRICS Leaders Target Digital Fraud and Technology Weaponization

    BRICS nations are expanding their agenda to include a crackdown on scam compounds and the creation of coordinated global rules for artificial intelligence. During the 2026 summit, President Xi Jinping urged the bloc to unify the Global South to stabilize global affairs. Prime Minister Narendra Modi warned that the weaponization of critical minerals and technology hinders shared progress. Under India's presidency, the group introduced new initiatives focused on digital agriculture, startups, logistics, and health to promote sustainability and innovation.

    Why it matters

    These efforts follow the adoption of the New Delhi Declaration on September 12, which called for restraint in the Middle East. The bloc is attempting to balance internal tensions, such as the border disputes between India and China, while reshaping global governance.

    What is confirmed

    • President Xi Jinping called on BRICS countries to strengthen unity among the Global South.
    • BRICS leaders vowed to crack down on scam compounds and push for coordinated global rules on AI.
    • Prime Minister Narendra Modi stated that the weaponization of technology and critical minerals hinders shared progress.
    • India's BRICS presidency introduced initiatives for digital agriculture, startups, logistics, and health.

    What to watch next

    • Implementation details of the coordinated global AI rules
    • Progress on the India-China diplomatic reset following the summit
    Sources used for this update (6)
    1. english.news.cn — Xinhua Headlines: Xi calls on BRICS to unite Global South, deepen cooperation
    2. www.koco.com — 8 killed in Russian strikes on Ukraine as Putin warns Europe against sending troops
    3. tass.com — AI concerns, rising oil prices hit global markets — WSJ
    4. www.hindustantimes.com — Brics leaders vow crackdown on ‘scam compounds’, push for coordinated global rules on AI
    5. www.hindustantimes.com — PM Modi flags ‘weaponisation’ of technology, critical minerals at Brics Summit 2026: 'Hinders shared progress'
    6. english.cctv.com — Xi calls on BRICS to unite Global South, deepen cooperation
    confidence 100%

  3. BRICS Adopts New Delhi Declaration Amid 20th Anniversary Summit

    BRICS nations unanimously adopted the New Delhi Declaration on September 12 during an annual summit in New Delhi. The agreement urges "maximum restraint" in the Middle East amid resumed strikes between the U.S. and Iran. The bloc reached consensus on trade, tariffs, terrorism, artificial intelligence, and UN Security Council reform. Indian Prime Minister Narendra Modi and Chinese President Xi Jinping used the summit sidelines to attempt a reset of ties following a deadly border clash six years ago. An MIT expert suggests the group seeks to reshape the global order rather than replace the West.

    Why it matters

    BRICS has evolved from a simple acronym into a bloc that some describe as the leading echelon of the Global South. While China's economy significantly dwarfs other member states, the group faces internal splits that threaten progress as it marks two decades of cooperation.

    What is confirmed

    • The BRICS nations unanimously adopted the New Delhi Declaration on September 12 in New Delhi.
    • The New Delhi Declaration focuses on West Asia, tariffs, terrorism, AI, trade, global governance, and UNSC reform.
    • The bloc called for maximum restraint and a multilateral approach regarding the war in the Middle East.
    • Indian Prime Minister Narendra Modi and Chinese President Xi Jinping met on the sidelines of the summit to repair ties.
    • BRICS is marking its 20th anniversary.

    Still unconfirmed

    • Internal splits threaten to slow the progress of the bloc.

    What to watch next

    • Implementation of the New Delhi Declaration's trade and AI agreements
    • Further diplomatic progress between India and China following the Modi-Xi meeting
    Sources used for this update (17)
    1. Financial Times — Brics on the rise
    2. NDTV — BRICS Was Just An Acronym. India Was There When It Became Much More
    3. The Indian Express — How China’s economy dwarfs that of other BRICS nations, in 4 charts
    4. Xinhua — Jointly advancing high-quality development of greater BRICS cooperation
    5. Firstpost — Brics isn't trying to replace West. It eyes to reshape global order, says MIT expert
    6. news.cgtn.com — Poll: Six in 10 respondents see a growing BRICS role in global affairs
    7. Yahoo Finance — Real Time • Tide Watching | "Greater BRICS cooperation has become the leading echelon of the Global South" ---- Qian Feng and Xu Feibiao on 20 Years of BRICS Cooperation and the Next Decade
    8. U.S. News & World Report — Factbox-The Evolution of BRICS and Its Challenges Today
    9. South China Morning Post — Internal splits threaten to slow Brics’ progress as bloc marks 20th anniversary
    10. Reuters — The evolution of BRICS and its challenges today
    11. chinadailyhk — BRICS ties deliver tangible benefits
    12. Global Times — BRICS at 20: The world is eager to hear China’s vision: Global Times editorial
    confidence 95%