Brics summit likely to focus on greater use of national currencies for trade

The annual Brics summit, to be held in Brazil's Rio de Janeiro on July 6 and 7, could deliberate on the issue of carrying out trade settlements in national currencies, a senior Ministry of External Affairs (MEA) official said on Monday.

- ARCHIS MOHAN & RUCHIKA CHITRAVANSHI

Prime Minister Narendra Modi will attend the summit as part of his five-nation tour from July 2 to 9, when he is also likely to take up issues related to critical mineral imports.

The other countries which the prime minister is visiting are Ghana, Trinidad and Tobago, Argentina, and Namibia. India will be the grouping's chair next year. The PM's visit to Argentina will be important for India's efforts to import critical minerals. Officials said Argentina is a part of the Lithium Triangle, which comprises Argentina, Chile, and Bolivia.