BRICS Not Aimed Against Any Country, Or To Replace US Dollar: Brazilian Vice President | Exclusive

Last Updated:December 14, 2025, 18:15 IST

Earlier this year, Brazil hosted the BRICS Summit at a time when emerging economies are pushing for greater voice in a global financial system still dominated by the US dollar

Brazil's Vice President Geraldo Alckmin visited India in October 2025. (Image: AFP/File)

Brazil’s Vice President Geraldo Alckmin has said BRICS is not aimed against any country but its purpose is to give emerging economies greater voice in a global system that remains dominated by developed economies.

As Brazil hands over the BRICS baton to India for 2026 and with Brazilian President Luiz Inacio Lula da Silva’s upcoming visit, the two countries are positioning themselves as steady partners within an increasingly consequential BRICS.

Brazil hosted the BRICS summit at a time when emerging economies are pushing for greater voice in a global financial system still dominated by the US dollar. In that context, during an exclusive interview with CNN-News18, Geraldo Alckmin, who visited India in October, spoke at length about the future of BRICS, US President Donald Trump’s repeated tariff warnings, and his country’s calibrated approach to great-power competition.

Alckmin, who is also the minister for development, industry, trade and services, outlined the expanding contours of India-Brazil cooperation, spanning trade, defence, and technology, Brazil’s assessment of India’s Akash missile system, and ongoing efforts to enable UPI-style digital payments in the South American country. He shared details on the preparations underway for President Lula’s visit to India in February 2026, which both sides see as a key milestone in the bilateral relationship.

Excerpts from the interview:

Brazil hosted the 17th BRICS Summit in 2025, raising issues such as local-currency settlement and AI governance. Looking ahead at 2026, which two policy areas would you like India to prioritise as the new chair?

BRICS covers a broad range of areas for cooperation, including trade, sustainable development, technological innovation, health, and finance. As chair, India has the prerogative to shape the agenda and highlight the themes it considers most pressing for the bloc. Brazil is attentive to the priorities that will be presented by India and stands ready to engage constructively with its leadership to advance shared objectives.

As both Brazil and India are key members of BRICS, how do you assess the grouping’s role in a global economy still dominated by the US dollar? With President Donald Trump repeatedly warning of tariffs, should BRICS recalibrate its ambitions, or are these threats not taken seriously by Brazil?

BRICS is not aimed against any country. Its purpose is to give emerging economies greater voice and more effective tools within a global system that remains dominated by developed economies. Discussions on local-currency settlements and alternative payment arrangements are intended to reduce costs and vulnerabilities, not to replace the US dollar. At the same time, Brazil maintains a constructive relationship with Washington while deepening South–South cooperation with partners such as India. This dual approach reflects pragmatism rather than confrontation.

With the Trump administration’s tariffs hitting Brazil, India, and several other countries, do you believe the US is unintentionally pushing emerging economies toward BRICS?

BRICS reflects the growing importance of emerging economies. I don’t see it as a push, but as a movement seeking a greater balance among diverse partnerships. Dialogue and collaboration, both bilateral and multilateral, remain crucial for the prosperity of all nations.

Brazil recently became the second BRICS member, after India, to decline joining China’s Belt and Road Initiative (BRI). What motivated that decision, and what does it signal about Brazil’s strategic autonomy? Does this align Brazil more closely with India’s own concerns about the BRI, and could it reshape Latin America’s broader posture toward China?

Brazil maintains an excellent relationship with China, our main commercial partner, underpinned by a strategic partnership and high-level dialogue mechanisms. Recognising the unique nature of our bilateral ties, we follow a tailored approach, which was reaffirmed during President Xi Jinping’s visit to Brazil at the end of 2024.

On your recent visit to India in October, which has been described as ushering in a new phase of the Brazil-India Strategic Partnership, could you elaborate on what “new phase" means in concrete terms — which sectors (trade, defence, technology, services) will see the fastest acceleration, and how will Brazil and India ensure follow-through beyond headline announcements?

Our strategic partnership with India dates back to 2006, and what we are seeing today is a qualitative deepening of that relationship. Bilateral trade has grown steadily, reaching $13.6 billion by November this year. President Lula and Prime Minister Narendra Modi have set an ambitious target of raising this to $20 billion by 2030, with a focus on diversifying beyond oil, sugar, and fertilisers into value-added manufacturing, services, digital technologies, and green industries.

An important step in this new phase is the expansion of the Mercosur-India Preferential Trade Agreement, which currently covers only a limited share of our trade potential. Broadening it would reduce barriers and provide a more predictable environment for businesses on both sides.

Brazil and India, as democratic leaders of the Global South, are also translating shared priorities into practical cooperation in energy transition, health, digital public infrastructure, and defence industries. New coordination mechanisms between our ministries are aimed at ensuring that progress is defined by delivery, not headlines. We are also encouraged by growing business-to-business engagement, particularly through the Brazil–India Business Leaders Forum, which we see as a key platform to advance trade, investment, and innovation.

President Lula is expected to visit India in February 2026. What key deliverables are being prepared for that trip? Should we anticipate major announcements in trade, defence or digital cooperation?

President Lula’s visit to India next year is being prepared as a major milestone, with several concrete deliverables expected. The visit will also coincide with an AI summit hosted by the Indian government.

On trade, we aim to significantly expand the Mercosur-India Preferential Trade Agreement to reduce barriers and boost bilateral commerce. In defence, we are exploring industrial cooperation in areas such as aerospace, naval projects, and joint research, where Brazilian and Indian capabilities are complementary.

In the digital domain, Brazil and India are global leaders when it comes to public infrastructure. Our focus is on translating this leadership into practical cooperation in payments, financial inclusion, cybersecurity, and innovation.

India has pitched the Akash missile system to Brazil. Where does the evaluation stand today, and what is the realistic timeline for a final decision? Is Brazil considering a more ambitious model rather than straightforward procurement?

Brazil and India have significant potential for cooperation in the aerospace and defence industries. During my recent visit to India, I inaugurated Embraer’s new office in New Delhi, which reflects this growing engagement. We have held important discussions on joint production and technology transfer, and Brazil remains very open to advancing these possibilities.

Prime Minister Modi said in Brasilia that India and Brazil are “working together on the adoption of UPI in Brazil". What concrete steps are underway to bring UPI-style digital payments into Brazil’s domestic system?

India’s UPI and Brazil’s PIX are two of the world’s most successful digital public infrastructure systems. The current work is focused on interoperability, including aligning standards, QR codes, messaging formats, and settlement mechanisms to enable low-cost cross-border payments.

The aim is to build practical bridges between the two systems, benefiting remittances, tourism, and business transactions, with scope for broader financial inclusion initiatives in the future. This effort sits within a wider digital agenda covering open finance, instant payments, and the potential role of central bank digital currencies.

The Red Fort blast in New Delhi killed 13 people. What is your view on the recent terror attack, and do you believe BRICS should move toward a more explicit joint position on counterterrorism?

We extend our condolences to the victims, and reiterate that terrorism must be combated in all international fora.

On connectivity and mobility, Brazil has announced a business e-visa for Indian travellers. When is the go-live date, and can we expect a direct India-Brazil flight by the end of 2026?

Brazil has decided to introduce a business e-visa for Indian travellers. Our authorities are finalising the remaining regulatory and technical steps, and the system is expected to go live shortly. We prefer precision over haste and will announce the exact date once all testing is completed.

As for direct flights, both governments see connectivity as a strategic priority. While the final decision rests with the airlines, we are actively engaging aviation authorities on both sides to support a commercially viable route. Our objective is to establish direct connectivity by the end of 2026.

Beyond economics and strategy, the Brazil-India partnership also has cultural depth. Brazil’s inclusion of yoga and ayurveda in its healthcare frameworks received attention during your visit. How do you plan to deepen this cultural and people-to-people engagement to build long-term affinity?

During my recent visit to India, I had the opportunity to visit an ayurveda hospital and learn more about traditional Indian medicine. I believe there is significant scope for deeper cooperation in holistic and traditional healthcare approaches, particularly within Brazil’s public health system.

News world BRICS Not Aimed Against Any Country, Or To Replace US Dollar: Brazilian Vice President | Exclusive

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