Union Commerce Minister Piyush Goyal, addressing the inaugural session of the BRICS Business Forum 2026, urged member nations to link their payment systems and trade more in local currencies. He said BRICS cooperation would generate jobs, wealth and prosperity for a bloc representing half the world's population and 40% of global GDP, reinforcing the group's push for de-dollarisation and stronger intra-bloc trade.
Nabka Insight
Local-currency trade and linked payment systems are central to BRICS' de-dollarisation agenda, a recurring economy and IR theme.
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- Piyush Goyal is the Union Commerce Minister.
- He addressed the inaugural session of the BRICS Business Forum 2026.
- Called for linking payment systems and trading in local currencies.
- BRICS represents about half the world's population and 40% of global GDP.
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