BRICS Summit 2026 discussions focused on stronger trade ties, easier market access and resilient supply chains. Commerce and Industry Minister Piyush Goyal called on BRICS members and partner countries to expand trade opportunities and reduce regulatory barriers.
Goyal made the remarks while addressing the BRICS Business Forum. He also called for greater use of local currencies in trade and deeper financial cooperation among member countries.
“I urge BRICS member states and partner countries to open their markets while working together to simplify regulatory procedures and facilitate faster clearance of consignments,” he said, adding that BRICS is an important market for the products India seeks to take to the world.
BRICS Summit 2026 and Global Trade
India sees BRICS as an important platform for expanding its global trade footprint. The bloc accounts for a significant share of global trade and offers opportunities for Indian exporters across multiple sectors.
“BRICS represents one-fourth of global trade, he said. “India is an important pillar of the intra-BRICS trade. Engineering goods and electronics account for the largest segment of India’s manufactured exports. India is also known as the pharmacy of the world.”
The minister highlighted the need for stronger trade links among BRICS economies. He said supply chains should remain diversified, reliable and mutually beneficial.
Trade among partners should be deep, resilient and with a diversified supply chain, and that trade must at no point become an impediment to the growth and wellbeing of the members of the bloc, he said. “We should open our markets for each other’s products including for raw materials. Our supply chain should be resilient and must run both ways,” he said.
BRICS Summit 2026 to Strengthen Payment Cooperation
Goyal also called for closer financial integration among BRICS economies. He urged member countries to link their respective payment systems.
Greater payment-system connectivity could make cross-border transactions easier. It could also support smoother trade between businesses across BRICS markets.
The minister said there is significant potential to deepen cooperation among BRICS countries. Stronger coordination on trade, payments and supply chains could support long-term economic growth across the bloc.
For Indian businesses, greater market access and simpler trade procedures could create more opportunities for exports. Easier clearances could also help companies reduce delays and improve the movement of goods across borders.
Source: Business Today
