BRICS has now become an important platform for all the emerging economies. The BRICS Summit 2026 happening in Delhi has all the emerging economies coming together to talk about trade, finance and currencies. With decentralisation of the dollar as a standard currency, BRICS nations are working on making their deals in local currency and giving a strong message to the West.
As BRICS expands its influence, understanding its economic priorities has become increasingly important for students, current-affairs enthusiasts and anyone keeping an eye on the global economy. But how much do you really know about the bloc’s economic plans?
From local-currency trade and BRICS Pay to supply-chain resilience and the New Development Bank, this quiz puts your knowledge to the test. Grab your thinking cap and let’s see how you score!
Here Are The BRICS 2026 GK Quiz Questions
Which BRICS countries are increasingly using their own national currencies for bilateral trade?
A) BRICS members
B) NATO members
C) G7 members
D) SAARC members
Answer: A) BRICS members
Explanation: BRICS countries are exploring local-currency settlements to reduce dependence on the US Dollar and make bilateral trade more independent from traditional dollar-based payment systems.
What is the main purpose of BRICS Pay?
A) To create a common BRICS currency
B) To connect national payment systems
C) To replace the IMF
D) To launch a cryptocurrency
Answer: B) To connect national payment systems
Explanation: BRICS Pay aims to connect payment systems of member countries, making cross-border transactions easier while reducing reliance on Western financial and correspondent banking systems.
Which BRICS initiative provides a long-term framework for economic cooperation up to 2030?
A) BRICS Security Plan
B) Economic Partnership Strategy 2030
C) BRICS Defence Strategy
D) BRICS Energy Mission
Answer: B) Economic Partnership Strategy 2030
Explanation: The Economic Partnership Strategy 2030 focuses on strengthening cooperation in trade, services, digital commerce, investment and technology among the expanded BRICS membership.
What is the main objective of the BRICS Global Value Chains Action Plan?
A) Diversify supply chains
B) Increase import dependence
C) Reduce agricultural production
D) End international trade
Answer: A) Diversify supply chains
Explanation: The plan aims to make supply chains more diversified and resilient, helping BRICS countries reduce risks arising from excessive dependence on individual manufacturing hubs.
Which BRICS institution focuses on infrastructure and sustainable development financing?
A) IMF
B) World Bank
C) New Development Bank
D) WTO
Answer: C) New Development Bank
Explanation: The New Development Bank finances infrastructure and sustainable development projects while supporting greater financial cooperation among BRICS members and promoting local-currency financing.
What does BRICS support to promote international trade amid rising protectionism?
A) WTO-centred multilateral trade
B) Complete trade restrictions
C) A global military alliance
D) Cryptocurrency-only trade
Answer: A) WTO-centred multilateral trade
Explanation: BRICS supports a multilateral trading system centred on the WTO, aiming to encourage open and predictable trade despite increasing tariffs and protectionist policies.
What is the proposed BRICS Grain Exchange mainly associated with?
A) Defence cooperation
B) Food security and agricultural trade
C) Digital currencies
D) Oil production
Answer: B) Food security and agricultural trade
Explanation: The proposed Grain Exchange could strengthen agricultural trade among BRICS members, improve food-security coordination and help countries manage volatility in global commodity markets.
Which Indian initiative is being promoted as a model for digital transformation among BRICS countries?
A) Digital Public Infrastructure
B) Make in India
C) Smart Cities Mission
D) National Highway Programme
Answer: A) Digital Public Infrastructure
Explanation: India’s Digital Public Infrastructure model, including digital payments and identity systems, offers scalable solutions that can support financial inclusion and digital services.
Which businesses are expected to benefit from improved cross-border trade finance under BRICS cooperation?
A) Only large corporations
B) MSMEs
C) Central banks
D) Stock exchanges
Answer: B) MSMEs
Explanation: Better trade finance and credit mechanisms could help MSMEs access working capital, participate in international trade and overcome financial barriers when doing business across BRICS markets.
Which major economic challenge could affect balanced trade within BRICS?
A) Internal trade imbalances
B) Falling tourism
C) Space exploration
D) Population growth
Answer: A) Internal trade imbalances
Explanation: BRICS members have different economic and industrial strengths, creating trade imbalances that the bloc must address to ensure fair, balanced and sustainable economic cooperation.