Piyush Goyal urges BRICS nations to link payment systems

Union Commerce Minister Piyush Goyal urged BRICS member and partner countries to link their payment systems and conduct more trade in local currencies during the inaugural session of the BRICS Business Forum 2026 in New Delhi.

Goyal highlighted that BRICS cooperation supports economies representing half of the global population and 40% of the global GDP, with engineering goods and electronics making up the largest share of India's manufactured exports.

During the session, External Affairs Minister S. Jaishankar emphasized building self-reliance and resilient energy systems, while Russian Minister of Economic Development Maxim Reshetnikov proposed establishing an independent BRICS grain exchange.