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 member nations to link their payment systems and trade in local currencies. He said BRICS cooperation would create jobs, wealth and prosperity for a bloc that represents half of the global population and 40% of global GDP, positioning the grouping as a driver of Global South growth.

Nabka Insight

BRICS economic integration and local-currency trade is a recurring international-relations and economy theme for exams.

Key facts

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

Relevant forBanking · SSC · State PSC · UPSC

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