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, urged member nations to link their payment systems and trade more in local currencies. He said deeper BRICS cooperation would generate jobs, wealth and prosperity for a bloc that represents about half the global population and 40% of global GDP.

Nabka Insight

BRICS composition and its share of world GDP are standard international-economy facts for UPSC and Banking exams.

Key facts

Speaker: Union Commerce Minister Piyush Goyal, at BRICS Business Forum 2026.
Proposal: link BRICS payment systems and trade in local currencies.
BRICS accounts for ~50% of world population and 40% of global GDP.

Relevant forBanking · SSC · State PSC · UPSC

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