Jaishankar and Lavrov Hail Bilateral Cooperation at BRICS Ministerial Meeting in Cape Town

India’s interests are optimally served by BRICS, especially as the latter adds more new members. Specifically, India needs to maintain its strong partnership with Russia, based on history and geopolitical pragmatism, SL Kanthan, an Indian geopolitical analyst and writer has told Sputnik.

One of the options to de-dollarize is to "create a bloc currency. For example, a BRICS currency, which will be used exclusively for trade among members – and thus won’t replace sovereign currencies. To ensure trust and value, such a currency should be backed by commodities such as gold, oil, natural gas, wheat, rare earth minerals etc. Such a currency will have real value – unlike the fiat dollar – and will also be democratic," SL Kanthan, an Indian geopolitical analyst and writer has told Sputnik.