Brief by Shorts91 Newsdesk / 06:26pm on 11 Sep 2026,Friday India Global
Russian President Vladimir Putin and Iranian President Masoud Pezeshkian proposed new ways to boost trade and investment among BRICS nations during the BRICS Business Forum. Putin proposed an investment platform backed by the New Development Bank (NDB) to mobilise private-sector funding and improve BRICS economies’ competitiveness. He said the NDB was already doing significant work and could provide the basis for a broader investment mechanism, expressing hope that other members would support the initiative. Pezeshkian advocated greater use of national currencies instead of the US dollar for trade. The proposals focused on strengthening economic cooperation and integration, increasing investment and reducing reliance on dollar-based transactions among BRICS members, further deepening cooperation. (PC: AP)
