Union Commerce Minister Piyush Goyal on Friday (September 11, 2026) urged the gathered BRICS members and partner countries to link their payment systems and conduct more trade in local currencies. Speaking at the inaugural session of the BRICS Business Forum 2026, Mr. Goyal highlighted that BRICS cooperation would create jobs, wealth and prosperity for countries that represent half of mankind and 40% of the global gross domestic product (GDP).BRICS Summit 2026 LIVE updates“BRICS today represents almost one-fourth of global trade, and India is an important pillar of intra-BRICS trade,” Mr. Goyal said. “Engineering goods and electronics account for the largest segment of India’s manufactured exports. India is also known as the pharmacy of the world.”Minister of External Affairs S. Jaishankar, also speaking at the event, said that higher economic security means greater self-reliance while also remaining inter-connected. “The objective is to strengthen our ability to absorb shocks while remaining connected and competitive,” Mr. Jaishankar said. “That calls for genuine market practices, predictable business environment, diversified commercial relationships, and transparent trade and industry.