BRICS leaders on Saturday opposed unilateral, punitive, discriminatory and protectionist measures that are not in line with international law, such as carbon border adjustment mechanisms, according to the New Delhi Declaration. The leaders expressed concern that such measures undermine efforts by countries, specifically the developing countries, aimed at addressing the adverse impacts of climate change, increasing adaptive capacity and resilience. As per the declaration, exports of goods which could be affected due to the carbon tax include iron and steel products, cement, fertiliser, and aluminium items. The opposition comes as the European Union (EU) and the UK have announced their plans to impose this carbon tax, creating significant concerns among BRICS member nations about the potential impact on their trade competitiveness.
Brics leaders on Saturday backed deeper cooperation on taxation and customs, welcoming initiatives undertaken under India's chairship. According to the New Delhi Declaration, the leaders reaffirmed their commitment to a 'fair, inclusive, stable, and efficient international tax system' and to strengthening cooperation among Brics members in addressing evolving international tax challenges. The declaration welcomed the establishment of two tax working groups on international taxation and transfer pricing, and on revenue statistics as part of efforts to deepen institutional cooperation among Brics tax authorities.
The declaration welcomed the establishment of the Brics Tax Support Network, the launch of the Brics Tax Cross-Learning Lab and further development of the Brics Tax Collaboration Tool. Additionally, it welcomed an in-person capacity-building programme for young tax professionals and the advancement of the Brics Women in Tax Network. These initiatives are aimed at promoting innovation and knowledge sharing among Brics tax authorities.
On customs cooperation, the leaders acknowledged the deepening of cooperation among Brics countries since its inception in 2012 and encouraged the Brics Customs Centres of Excellence to undertake targeted training and technical cooperation programmes based on members' needs. The declaration welcomed the convergence achieved on the Brics Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters. Members that are ready to proceed with signing the agreement will do so subject to the completion of necessary national processes, while efforts will continue to secure the participation of all Brics countries.
BRICS countries are set to deepen cooperation on cross-border payments, local-currency settlements, development finance and financial resilience, with the grouping's finance track under India's 2026 Chairship laying the groundwork for more practical financial integration among member economies. According to the BRICS Finance Ministers and Central Bank Governors' Joint Statement, the grouping will continue work on cross-border payment interoperability and explore trade settlements and investments using local currencies. The Finance Ministers and Central Bank Governors, who met in Jaipur on August 12-13 and in Mumbai on September 10, said the expanded BRICS membership had enhanced the diversity and representativeness of the grouping. BRICS Pay is actively expanding its cross-border payment network, with memorandums of understanding signed with companies in China, Belarus and Turkey, as announced by CEO Andrey Mikhaylishin.
The leaders backed greater cooperation on Authorised Economic Operator (AEO) programmes through voluntary implementation of the Brics AEO Action Plan 2026. The initiative will focus on information exchange, capacity building, sharing of best practices and mutual recognition, while taking into account national frameworks and priorities. Brics countries will also work towards making the Brics Joint Customs Enforcement Operation an annual initiative, where appropriate, in consultation with members and coordinated by the respective Brics chairship. The operation will be based on mutually identified cross-border smuggling trends, shared priorities and operational feasibility.
