Page 6 - Brics

Over 500 investors with $1 trn wealth to attend iBrics Summit on Sep 12-13

More than 500 institutional investors, pension funds, and family offices managing a total wealth of over USD 1 trillion will participate in the inaugural iBRICS Summit 2026 here next week, organisers said on Saturday. The two-day summit, convened alongside the 18th BRICS Summit in the National Capital on September 12-13, is designed to connect sovereign capital with bankable infrastructure, energy, and digital capacity projects across the 21 BRICS member states and partner nations, the Sovereign Wealth Fund Institute (SWFI) said in a statement. The summit comes at a critical juncture as BRICS economies adapt to shifting trade dynamics, US tariff pressures, and high dollar-clearing costs, SWFI Chairman and Lead Co-Chair of iBRICS, Lakshmi Narayanan, said. "With tariffs and sanctions stressing traditional corridors, funds and ministries need direct access to allocate capital differently. We are providing that dedicated venue alongside the Leaders' Summit," Narayanan said. The ...

Delhi govt to inspect Bharat Mandapam-airport route ahead of Brics Summit

The Delhi government will carry out an inspection of the route from Bharat Mandapam to the Indira Gandhi International Airport on Saturday for the upcoming BRICS Summit, officials said. The inspection, scheduled under the chairmanship of the Delhi chief secretary, will focus on roads, potholes, footpaths, drainage and waterlogging, cleanliness, BRICS branding and the overall civic appearance along the route, they said. Officials from the New Delhi Municipal Council (NDMC), Municipal Corporation of Delhi (MCD), Public Works Department (PWD), Delhi Police, Delhi International Airport Ltd (DIAL) and National Highways Authority of India (NHAI), among others, have been asked to be part of the exercise. The additional chief secretary (I&FC) has been asked to review drainage arrangements, waterlogging-prone points and emergency dewatering measures along the route, they said. The NDMC chairperson will be responsible for checking areas under its jurisdiction, particularly locations where ..

Best of BS Opinion: India's tightrope walk on the dollar, BRICS finance

Today's opinions examine India's cautious move away from dollar dependence, questions around the new GDP series, middle-class anger over ethanol-blended petrol and the societal risks posed by AI.

India's tightrope walk on Brics finance

The Brics summit next week will test India's ability to navigate the changing currency landscape as it seeks to de-risk from the dollar

Delhi Traffic Police issues advisory for BRICS Summit rehearsal on Sept 2

The Delhi Traffic Police has issued a traffic advisory ahead of the motorcade rehearsal for the BRICS Summit 2026, announcing that restrictions and diversions will affect several key roads in the national Capital on September 2, officials said on Tuesday. The rehearsal will be held from 10 am to 3 pm. According to Ministry of External Affairs statement, the 18th BRICS Summit will take place from September 12 to 13 at Bharat Mandapam in Pragati Maidan. The advisory said traffic movement will be regulated at 22 diversion points and on more than 35 roads during the rehearsal. Motorists have been advised to plan their journeys and use alternate routes wherever possible. Major roads likely to be affected include Sardar Patel Marg, Mother Teresa Crescent, Teen Murti Marg, Akbar Road, Tees January Marg, Rajesh Pilot Marg, Subramaniam Bharti Marg, Mathura Road, Moti Lal Nehru Marg, Dr Zakir Hussain Marg, Brigadier Hoshiar Singh Marg, Africa Avenue Road, Satya Marg, Shanti Path, Janpath, ...

Brics Summit rehearsal: Traffic diversions in Delhi on over 35 roads today

Several key roads in the national capital will see diversions between 11 am and 3 pm on Tuesday owing to a motorcade rehearsal ahead of the BRICS Summit 2026, Delhi Traffic Police said. The summit will be held at Bharat Mandapam between September 11 and 13. The traffic advisory identifies 22 diversion points and more than 35 roads that will be affected during the rehearsal. Traffic will be affected on, among other roads, Sardar Patel Marg, Mother Teresa Crescent, Teen Murti Marg, Akbar Road, Tees January Marg, Rajesh Pilot Marg, Subramaniam Bharti Marg, Mathura Road, Moti Lal Nehru Marg, Dr Zakir Hussain Marg, Brig Hoshiyar Singh Marg, Africa Avenue Road, Satya Marg, Shanti Path, and Janpath. Ashoka Road, Barakhamba Road, Tolstoy Marg, Ranjeet Singh Flyover, Niti Marg, Panchsheel Marg, Kemal Attaturk Marg, APJ Abdul Kalam Road, Press Enclave Road, Lal Bahadur Shastri Marg, Josef Broz Tito Marg, and Lala Lajpat Rai Marg will also be hit. At Dr Dinesh Nandini Dalmia Chowk, traffic w

BRICS Summit tariff spike underscores shortage of 200,000 branded rooms

Tariff spikes during the upcoming BRICS Summit lay bare a supply gap of over 200,000 branded hotel rooms as the industry seeks faster execution of new projects

Delhi luxury hotels sell out, room rates surge ahead of Brics summit

Delhi's luxury hotel market is witnessing a sharp squeeze in room availability and a steep surge in tariffs ahead of the BRICS Summit, with several marquee properties either showing no rooms for key dates or quoting rates running into six figures a night. A check of hotel booking platforms for September 11-13 showed no availability at Taj Mahal and Taj Palace in New Delhi, while The Oberoi, New Delhi, was sold out for portions of the period. The Leela Palace New Delhi was not accepting bookings for the specified dates. Rooms that were available at properties such as ITC Maurya, New Delhi and Shangri-La Eros New Delhi were commanding exceptionally high tariffs, underscoring the premium being placed on accommodation in the capital around the September 12-13 Summit. The two-day geopolitical event is effectively compressing demand across several days, as delegates and other visitors arrive ahead of the Summit and extend their stays, putting additional pressure on room inventory in centr

FMs to discuss trade, digital currency in runup to Brics meet on Sept 12-13

Sitharaman will chair the September 1-2 meeting ahead of the Brics Summit, with members set to explore mechanisms to cut transaction costs and boost intra-bloc trade

From floral fountains to road repairs: NDMC readies Delhi for Brics summit

The New Delhi Municipal Council (NDMC) has drawn up an extensive civic preparedness plan for the upcoming BRICS Summit, with round-the-clock sanitation, tighter monitoring, road repairs and extensive beautification planned across the NDMC area. Under the plan, 41 major roads have been divided into 14 circles, each headed by a nodal officer who will conduct daily inspections and ensure that civic issues are addressed promptly, NDMC Chairman Manoj Kumar Dwivedi said on Monday. The 18th BRICS Summit is an upcoming international summit of the BRICS nations comprising Brazil, Russia, India, China and South Africa and additional nations, scheduled to be hosted by India on 12-13 September 2026 as part of its BRICS chairmanship. The council has identified 15 locations for floral boards, nine for flower fountains and 17 roundabouts for special illumination and beautification. Several other prominent locations have also been earmarked for focused cleaning and upkeep, though their details have

Rashtrapati Bhavan withdraws communique on rehearsal for B'desh PM visit

A Rashtrapati Bhavan communique on Friday announcing the cancellation of Saturday's Change of Guard ceremony to accommodate the full rehearsal of Bangladesh Prime Minister Tarique Rahman's ceremonial welcome was withdrawn, adding a fresh layer of confusion to the status of the high-profile visit. The withdrawal highlighted the ongoing diplomatic friction between New Delhi and Dhaka ahead of the upcoming BRICS summit on September 12-13. Relations have been strained over Bangladesh's recent demand for the extradition of deposed prime minister Sheikh Hasina. A fresh communique from the Rashtrapati Bhavan said "press release issued on the subject 'No Change of Guard Ceremony this Saturday', which was issued on August 21, 2026, stands withdrawn." This communique came an hour after the President's house had announced that it was cancelling the weekly ceremony for the full rehearsal of the welcome planned for the visiting Bangladesh Prime Minister. "The Change of Guard Ceremony at the ...

BRICS: Tourism ministers adopt declaration to deepen tourism cooperation

The BRICS Tourism Ministers' meeting, under India's chairship, concluded in Jaipur on Friday with the adoption of the BRICS Tourism Ministers' Communique 2026, also known as the Jaipur Declaration, aimed at strengthening tourism cooperation among member countries. The meeting, chaired by Union Culture and Tourism Minister Gajendra Singh Shekhawat, marked the culmination of the BRICS Tourism Track under India's 2026 chairship, which was conducted under the theme "Building for Resilience, Innovation, Cooperation and Sustainability." Tourism ministers and heads of delegation from nine BRICS member states participated in the meeting. Ministerial participation included Brazil's Tourism Minister Gustavo Costa Feliciando, Iran's Minister of Cultural Heritage, Tourism and Handicrafts Reza Salehi Amiri, South Africa's Tourism Minister Patricia De Lille and UAE's Minister of Economy and Tourism Abdulla Bin Touq Al Marri. Heads of delegation from China, Ethiopia, Indonesia and Russia also ...

Bangladesh PM Tarique Rahman unlikely to visit India for BRICS Summit

New Delhi and Dhaka are exploring a summit between the two prime ministers later this year as they renegotiate the 30-year-old Ganga Water Treaty expiring in December

India calls for joint advocacy for standards in global telecom, ICT bodies

BRICS member countries can build institutional capacity together and jointly advocate for standards in international telecom and ICT bodies that are fair and genuinely represent everyone, Minister of State for Telecom Chandra Sekhar Pemmasani said on Thursday. While speaking at BRICS ICT Track Thematic Panel Discussion on "Sustainable and Resilient Digital and ICT Ecosystems: Digital Public Infrastructure for Impact Global South Insights on Powering Public Services and Economic Growth", the minister said India is open to sharing of modular, open source frameworks for digital public infrastructure which member states should be able to adapt without rebuilding from the beginning, and without prohibitive licensing costs. Pemmasani called for partnership among BRICS member countries for building capabilities. "Let us train our workforce together, and build institutional capacity together. And let us advocate together for standards in international telecom and ICT bodies that are fair,

Brics nations oppose EU's CBAM, say it burdens developing economies

Brics nations said CBAM and similar measures "undermine efforts by developing countries aimed at addressing the adverse impacts of climate change, increasing adaptive capacity and resilience"

Industry body IESA seeks collaboration among Brics nations to meet RE goals

Collaboration on advanced energy storage technologies, resilient supply chains, and timely access to critical minerals is key to achieving renewable energy targets, industry body IESA told BRICS countries on Tuesday. The India Energy Storage Alliance (IESA) handled the technical coordination at a virtual event which was attended by representatives from Brazil, Russia, the United Arab Emirates, and other members of BRICS - a forum of emerging economies. The event, organised by the power ministry, was aimed at accelerating India's clean energy transition by deepening international collaboration on advanced energy storage technologies and developing resilient local supply chains. According to a statement, IESA has urged BRICS nations, including Brazil, Russia, and the UAE, to strengthen energy cooperation and mineral security. It also submitted recommendations to the Indian government. India's clean industrial investment pipeline has reached an estimated USD 433 billion, placing the .

Bangladesh seeks 'propitious environment' for PM Rahman's India visit

Bangladesh on Sunday said a "propitious environment needs to be created" by India for Prime Minister Tarique Rahman to visit New Delhi, linking it to Dhaka's pending extradition requests regarding deposed premier Sheikh Hasina, according to a media report. The development comes amid uncertainties over Rahman's visit to New Delhi for the BRICS summit on September 12-13. Rahman met Indian High Commissioner Dinesh Trivedi on August 10. During the meeting, he sought the extradition of Hasina, following up on formal requests sent to New Delhi so far. But there was no clarity on whether he would visit New Delhi. "Officials of Bangladesh and India have been in touch with each other for several weeks on the possibility of a bilateral visit by Hon'ble Prime Minister Mr Tarique Rahman to India," Bangladesh's foreign ministry spokesperson Shahidul Karim was quoted as saying by the state-run Bangladesh Sangbad Sangstha (BSS) news portal on Sunday. However, he told the media, the process was ..

Brics face constraints in mobilising private capital at scale: Sitharaman

The finance minister said public funds should catalyse private investment, while stable policy frameworks and multilateral institutions must help reduce investment risks

Harness AI, build human oversight: RBI Governor Sanjay Malhotra to banks

RBI Governor Sanjay Malhotra said member countries are studying digital currencies and payment-system linkages while India also works to expand local currency trade