Goyal calls for linking payment systems at BRICS Business Forum

Union Commerce Minister Piyush Goyal, at 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 create jobs, wealth and prosperity for countries that together represent half the global population and 40% of global GDP, positioning the bloc as an engine of Global South growth.

Nabka Insight

Local-currency trade and payment-system linkage among BRICS signals a shift away from dollar dependence.

Key facts

Piyush Goyal is Union Commerce Minister
Spoke at inaugural session of BRICS Business Forum 2026
Urged linking payment systems and trade in local currencies
BRICS covers half of global population and 40% of GDP

Relevant forBanking · SSC · UPSC

← Full digest