GENERAL11 Sept 2026
BRICS nations should link payment systems, trade in local currencies: Piyush Goyal at BRICS Business Forum
India's Commerce Minister Piyush Goyal has urged the BRICS group of nations to link their payment systems and trade more in local currencies. He spoke at the BRICS Business Forum on September 11, 2026. BRICS covers half the world's people and 40% of global gross domestic product (GDP). If this moves ahead, exporters could deal more in local currencies. So check your export payment contracts now.
Key Statutory Highlights
- Piyush Goyal urged BRICS members and partner countries to link their payment systems and conduct more trade in local currencies.
- He said BRICS cooperation would create jobs, wealth and prosperity for countries that represent half of mankind and 40% of global GDP.
- External Affairs Minister S. Jaishankar said higher economic security means greater self-reliance while also remaining inter-connected.
Actionable Advice for Taxpayers / Founders:If you export to or import from BRICS countries, review your payment and currency terms with your bank, and watch for official announcements on local-currency settlement before changing anything.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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