I think it’s sadly a lot of smoke and mirrors but I’m not exactly sure who is blowing smoke up whos ass with this. Out of those countries, India is really the only one that I would think is stable enough to command respect from a currency perspective.
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These countries have a significant economic clout if used properly. Now, there are 25 more joining in which includes the like of Saudi, Iran and Indonesia they can be one of the biggest economic blocs. Not sure how these countries will command the narrative. Even India has its fair share of problems.
The biggest advantage would be the productions and the need to trade between these countries. I do not have the data but I assume that would be quite large to stabilize the currency.
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