Piyush Goyal Calls for Easier Trade Across BRICS Markets

Union Commerce and Industry Minister Piyush Goyal has called on BRICS member states and partner countries to further open their markets and simplify regulatory procedures to boost trade and economic cooperation.

Speaking at the BRICS Business Forum, Goyal highlighted the growing significance of the grouping in global commerce, noting that BRICS represents almost one-fourth of global trade.

He said India remains an important pillar of intra-BRICS trade, with engineering goods and electronics forming the largest segments of the country's manufactured exports. He also underlined India's position as the “pharmacy of the world”, saying BRICS offers an important market for Indian products that the country aims to take to global markets as a trusted partner.

Goyal urged BRICS members and partner countries to work together to simplify regulatory procedures and facilitate faster clearance of consignments. He said greater market access and streamlined trade processes would help strengthen economic ties and unlock new opportunities for businesses across the BRICS grouping.

The minister's remarks come as India hosts the 18th BRICS Summit in New Delhi, with trade, investment and stronger economic cooperation among key areas of focus.