The 2025 Shanghai Cooperation Organisation (SCO) summit concluded on September 1 in Tianjin, China, with leaders emphasizing the need for reforms in global economic governance. Chinese President Xi Jinping, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin were the central figures at the high-level gathering, where the focus shifted toward building alternative financial and trade systems less reliant on Western institutions. The two-day summit brought together heads of state from nine member countries, along with several observer and dialogue partners.
Economic sovereignty, cross-border payments in local currencies and the expansion of regional infrastructure were central themes. The final joint communiqué reflected a broad consensus on increasing strategic coordination and deepening intra-bloc trade and investment. President Xi opened the summit by calling on members to strengthen cooperation in digital infrastructure, energy security and financial independence. He emphasized the importance of regional mechanisms in stabilizing the global economy and advocated for greater use of local currencies in trade settlements. Xi also underlined the SCO’s role in shaping a multipolar global order based on equality and mutual respect.
PM Modi called for enhanced connectivity and secure supply chains across the SCO region, underscoring the need for resilient economic networks that can withstand global disruptions. He proposed the establishment of common industrial and technological platforms to increase economic linkages among member states and promote innovation-led development. Modi also reiterated India’s commitment to transparent, rules-based trade and urged a coordinated approach to counterterrorism and regional stability, emphasizing shared responsibility in addressing cross-border security threats and fostering long-term peace.
President Putin addressed the summit with a focus on reducing reliance on Western-led financial systems, advocating for stronger economic cooperation among Eurasian nations to safeguard against external pressures. He highlighted ongoing efforts to expand trade using national currencies and proposed strengthening logistics and energy corridors within the SCO to improve regional supply chain integration. Putin also reaffirmed Russia’s opposition to sanctions policies, describing them as detrimental to global economic balance and calling for greater financial autonomy among member states to ensure sustainable development.
Xi, Modi and Putin hold pivotal high-level discussions
On the sidelines of the summit, President Xi and PM Modi held a bilateral meeting that drew significant international attention, marking a rare and diplomatically consequential engagement between the leaders of two of the world’s largest economies. The discussion focused on stabilizing bilateral trade flows, strengthening regional cooperation mechanisms and addressing long-standing strategic and border-related differences. Both leaders acknowledged the necessity of maintaining economic continuity and open communication channels, particularly amid rising global fragmentation and evolving regional power dynamics. While no formal agreements were announced, the meeting was viewed as a step toward preserving functional engagement between Asia’s two largest nations.
In a separate high-level engagement, PM Modi met with President Putin in a meeting that reinforced the long-standing strategic alignment between New Delhi and Moscow. The two leaders held in-depth discussions on expanding cooperation across key sectors including defense production, energy trade, nuclear technology and cross-border payments infrastructure. The engagement featured an extended closed-door session, underscoring the high level of trust and continuity in the bilateral relationship. This was followed by a structured review of ongoing joint projects, signaling both countries’ intent to sustain and advance their partnership despite global realignments and mounting geopolitical pressures.
India and Russia reaffirm long-term strategic alignment
The summit saw limited involvement from smaller member states, including Pakistan and the Central Asian republics, whose roles were largely confined to participation in formal sessions. Observer states such as Iran and Belarus were also present but did not feature prominently in the summit’s key economic discussions. Agreements reached during the summit included initiatives to scale up digital trade, expand regional payment systems, and promote energy integration.
Member states also supported coordinated investment in technology and infrastructure to enhance resilience against global supply chain disruptions. The summit concluded with the adoption of the Tianjin Declaration, which called for long-term cooperation in trade, finance and digital governance. The document reaffirmed the SCO’s role in promoting economic self-reliance among its members and reducing systemic dependencies on external markets and financial institutions. The next SCO summit will be hosted by Kazakhstan in 2026. – By Content Syndication Services.