Goyal urges BRICS to link payment systems and remove market barriers

Commerce Minister Piyush Goyal called on BRICS members to reduce non-tariff barriers, open markets and connect payment systems, citing UPI’s growing international acceptance. He also urged resilient two-way supply chains spanning electronics, agriculture, pharmaceuticals and automobiles.

— Source publishedFri, 11 Sept, 2026, 12:33 IST·First seen Fri, 11 Sept, 2026, 13:08 IST·Source NDTV Profit

What happened

Commerce Minister Piyush Goyal urged BRICS members to reduce non-tariff barriers, open markets and link payment systems. He highlighted UPI’s international

Key facts

  • 88%
  • 250 billion transactions annually
  • 11 countries
  • nearly one-fourth of global trade
  • half of humanity
  • 40% of global GDP

Why this matters

Companies should assess BRICS partnerships in payments, distribution and localized sourcing now, prioritizing markets where interoperability and market-access reforms move from diplomatic intent to execution.