BRICS Must Expand National Currency Use and Build Resilient Trade Ties

Piyush Goyal: 'Largest BRICS Business Forum Ever Held' Under IndiaAddressing the Leaders' Session of the BRICS Business Forum, Union Minister of Commerce and Industry Piyush Goyal welcomed world leaders, including Prime Minister Narendra Modi, Russian President Vladimir Putin, South African President Cyril Ramaphosa, and Iranian President Masoud Pezeshkian. Piyush Goyal highlighted that with over two thousand business leaders and delegates attending, this gathering marked the 'largest BRICS Business Forum ever held'. He stated that during India's chairship, the goal has been to achieve balanced trade and explore trade in services across member nations. Goyal emphasized that merchandise exports from BRICS countries increased from around 900 billion dollars in 2003 to nearly six trillion dollars in 2024, raising their global export share from 12 percent to almost 24 percent. He outlined key forum focus areas, including non-tariff barriers, agriculture, services, women-led enterprises, and the digital economy, noting recommendations from the BRICS Business Council and the Women's Business Alliance.