India’s Commerce and Industry Minister Piyush Goyal calls for deeper cooperation among BRICS nations to link payment systems, promote local currency trade, and enhance economic collaboration in technology and agriculture.
Commerce and Industry Minister Piyush Goyal used the BRICS Business Forum in New Delhi to press member states and partners to connect their payment systems, expand trade in local currencies and step up cooperation in digital commerce and new technologies. According to Indian Defence News and other Indian media reports, he cast India’s digital payment infrastructure as a model for wider cross-border use.
Goyal pointed to the scale of the Unified Payments Interface, saying it now handles more than ₹2,08,33,333 crore in annual transactions and already works in 11 countries. LiveMint and The Economic Times reported that he argued closer payment links would make trade easier across the bloc and help deepen commercial ties.
He also urged BRICS economies to open markets further, cut non-tariff barriers and speed up customs clearance. The reports said he stressed that resilient supply chains depend on two-way trade, not one-way dependence, and that fragmented regulation can raise export costs as much as, or more than, tariffs.
The minister also called for stronger cooperation in agriculture technology, services and professional mobility, including mutual recognition of qualifications. Financial Express reported that he identified agriculture, pharmaceuticals, engineering, electronics, automobiles, auto components and services as areas with room for wider BRICS cooperation, while Moneycontrol said he later emphasised more balanced trade and a bigger role for services within the grouping.
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