UPSC Prelims Practice Questions — Goyal calls for local-currency trade among BRICS nations
Q1. In the context of BRICS enlargement, what does the category of 'partner country' denote?
- A. A state associated with BRICS deliberations and ministerial tracks without the rights of a full member
- B. A state that has ratified the BRICS Contingent Reserve Arrangement without joining the grouping itself
- C. A state holding observer status in the New Development Bank without subscribing to its capital
- D. A state whose national currency has been cleared for intra-BRICS trade settlement by the Payment Task Force
Q2. Consider the following countries:
1. Bangladesh
2. Uruguay
3. Ethiopia
4. United Arab Emirates
Which of the above is/are correctly identified as having been admitted to the membership of the New Development Bank beyond its five founding members?
- Bangladesh
- Uruguay
- Ethiopia
- United Arab Emirates
- A. 1 and 3
- B. 2 and 3
- C. 1, 2 and 4
- D. 1, 3 and 4
Q3. Who was the first President of the New Development Bank, the multilateral bank that began operations in 2015?
- A. Dilma Rousseff, the Brazilian former head of state who came to head the Bank
- B. K. V. Kamath, the Indian banker appointed to head the Bank on its launch
- C. Marcos Troyjo, the Brazilian economist who came to head the Bank
- D. Jin Liqun, the Chinese official who headed a newly created multilateral bank
Q4. Consider the following statements regarding India's position on payments and currency settlement within BRICS:
1. India has supported the use of central bank digital currencies for cross-border BRICS payments.
2. India has favoured the creation of a single common BRICS currency to replace the US dollar in intra-bloc trade.
3. India has linked its Unified Payments Interface with the fast payment system of the United Arab Emirates.
4. India has proposed a unified bloc-wide BRICS payment network in place of bilateral arrangements.
Which of the above is/are NOT correct?
- India has supported the use of central bank digital currencies for cross-border BRICS payments.
- India has favoured the creation of a single common BRICS currency to replace the US dollar in intra-bloc trade.
- India has linked its Unified Payments Interface with the fast payment system of the United Arab Emirates.
- India has proposed a unified bloc-wide BRICS payment network in place of bilateral arrangements.
- A. 1 and 3
- B. 2 and 4
- C. 1, 2 and 4
- D. 3 and 4
Q5. As cited at the BRICS Business Forum in New Delhi in September 2026, in how many countries is India's Unified Payments Interface accepted?
Q6. The Delhi Declaration adopted by consensus in September 2026 was the outcome document of which edition of the BRICS Summit?
- A. The 15th BRICS Summit
- B. The 16th BRICS Summit
- C. The 18th BRICS Summit
- D. The 19th BRICS Summit
Q7. Consider the following statements about BRICS events held under India's 2026 Chairship:
1. The 18th BRICS Summit was held at Bharat Mandapam, New Delhi, on 12-13 September 2026.
2. The Chairship was guided by the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'.
3. The 16th BRICS Trade Ministers' Meeting was held at Jaipur.
4. The 11th BRICS Energy Ministers' Meeting was held at Gurugram.
Which of the statements given above is/are correct?
- The 18th BRICS Summit was held at Bharat Mandapam, New Delhi, on 12-13 September 2026.
- The Chairship was guided by the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'.
- The 16th BRICS Trade Ministers' Meeting was held at Jaipur.
- The 11th BRICS Energy Ministers' Meeting was held at Gurugram.
- A. 1 and 2 only
- B. 2, 3 and 4 only
- C. 1, 3 and 4 only
- D. 1, 2, 3 and 4
Q8. The figure that BRICS accounts for about 40 per cent of global GDP is best understood as which one of the following?
- A. The aggregate share of member economies in world output, implying no common fiscal or monetary authority
- B. The share of annual global GDP growth contributed exclusively by BRICS members, excluding partner countries
- C. The permanent share of world output guaranteed to the bloc under the terms of its expansion framework
- D. The share of world output generated entirely within the borrowing member countries of the New Development Bank
Q9. Consider the following statements comparing the shares of BRICS in the world economy as cited in 2026:
1. BRICS members account for close to half of the world's population but for under one-third of global trade.
2. The share of BRICS in global GDP exceeds its share in global trade.
3. After the enlargement of 2024-25, the number of full BRICS members stood at ten, equal to the number of partner countries admitted in 2025.
Which of the statements given above is/are correct?
- BRICS members account for close to half of the world's population but for under one-third of global trade.
- The share of BRICS in global GDP exceeds its share in global trade.
- After the enlargement of 2024-25, the number of full BRICS members stood at ten, equal to the number of partner countries admitted in 2025.
- A. 1 only
- B. 1 and 2 only
- C. 2 and 3 only
- D. 1, 2 and 3
Q10. Under India's Chairship, which body carried forward BRICS working-level trade and economic negotiations feeding into the BRICS Trade Ministers' Meeting?
- A. The Contact Group on Economic and Trade Issues, convened by the Department of Commerce
- B. The BRICS Payment Task Force, convened by the Department of Economic Affairs
- C. The Sherpas' and Sous-Sherpas' meeting, convened by the Ministry of External Affairs
- D. The BRICS Business Council, convened by the apex industry chambers of the member states
Q11. Consider the following pairs of function and responsible entity in India:
1. Department for Promotion of Industry and Internal Trade - Ministry of Commerce and Industry
2. Department of Commerce - Ministry of Commerce and Industry
3. Coordination of India's BRICS Sherpa-level track - Ministry of External Affairs
4. Representation of India on the Board of Governors of the New Development Bank - Minister of Commerce and Industry
Which of the above is/are correctly identified?
- Department for Promotion of Industry and Internal Trade - Ministry of Commerce and Industry
- Department of Commerce - Ministry of Commerce and Industry
- Coordination of India's BRICS Sherpa-level track - Ministry of External Affairs
- Representation of India on the Board of Governors of the New Development Bank - Minister of Commerce and Industry
- A. 1, 2 and 3
- B. 1 and 2 only
- C. 2, 3 and 4
- D. 1, 3 and 4