Piyush Goyal urges BRICS to link payment systems, trade in local currencies

Union Commerce Minister Piyush Goyal, speaking at the inaugural session of the BRICS Business Forum 2026, called on BRICS nations to link their payment systems and trade more in local currencies. He said BRICS cooperation would create jobs, wealth and prosperity for member states that together represent half the world's population and 40% of global GDP.

Nabka Insight

Local-currency trade and payment-system linkage are recurring themes on India's BRICS agenda.

Key facts

Piyush Goyal is the Union Commerce Minister; he spoke at the BRICS Business Forum 2026 inaugural session.
He urged BRICS to link payment systems and trade in local currencies.
BRICS represents about half the world's population and 40% of global GDP.

Relevant forBanking · SSC · State PSC · UPSC

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