Business1h ago
BRICS nations should link payment systems, trade in local currencies: Piyush Goyal at BRICS Business Forum
AI EXECUTIVE SUMMARY
At the BRICS Business Forum 2026, Union Commerce Minister Piyush Goyal advocated for connecting payment systems among member nations and increasing trade using local currencies. He emphasized that strengthening this economic cooperation will generate employment, wealth, and prosperity across nations that comprise a significant portion of the global population and GDP.
WHY IT MATTERS
This policy push by a major economy highlights ongoing efforts within the BRICS bloc to reduce reliance on traditional Western-dominated financial infrastructure and promote alternative cross-border payment mechanisms.
Speaking at the inaugural session of the BRICS Business Forum 2026, the Union Commerce Minister highlighted that BRICS cooperation would create jobs, wealth and prosperity for countries that represent half of the global population and 40% of the global GDP
This story was originally reported by The Hindu โ Business. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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