BRICS is an economic and regional security organisation aimed at diluting western influence and establishing a regional Asian power center. As per reports, BRICS has been planning to create a new currency that would escalate the process of de: dollarization, knocking out all western tactics on retrogressing rising economies. Currently, 80% of global trade is in the US dollar, and the Russia: Ukraine conflict realised the hazardous potential of the dollar’s hegemony to collapse any economy by imposing destructive sanctions.The world is growing at a rampant pace, forming conglomerations of various countries and moving in the right direction to establish more advanced, economically stable growth. Each entity strives to procure global stature, while China has been a leading nation that has adequate development to supersede the United States, its indomitable rival, in the future. Will BRICS challenge the western hegemony ?