Could the Brick Summit deliver a new international payment system?

Thanks for joining us for the Marketplace Morning Report from the BBC World Service.

I'm Stephen Ryan. It's Mr. Stephen Arrain in for Leanna Byrne. Good morning.

It's something Russian President Vladimir Putin would like to deliver as Moscow's key allies meet in the city of Kazan.

The Kremlin hopes the summit will show Western attempts to isolate Russia's leader over the Ukraine

war have failed. India's Prime Minister Norendramodi is one of the other leaders attending the

BRICS meetings and he was at a group dinner with Mr Putin on Tuesday.

Our India business correspondent, Archana Shukla, has more.

If you saw the pictures, Putin was sitting between

she Jinkping and Prime Minister Modi, kind of showing the strength that BRICS has as a

counterbalance to the other Western groupings and in the bilateral they've

spoken about further deepening collaboration especially around nuclear energy and

finance.

Modi has definitely called for you know an end to the war in Ukraine however we know that

since the war started India has very categorically not taken any side and has not even

spoken against Russia in any of the global platforms.

And Archen that there's been some talk about maybe an alternative to the Western Financial

System Swift.

What might be here at the summit?

That's something we're keeping a close eye on, the multilateral conversations around finance because this is something

President Putin has been trying to push forward, the Briggs financial architecture proposing

it as a counterbalance to Western Swift and a conversation around that would be crucial.

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