BRICS leaders back trade in local currencies at 2026 forum
BRICS leaders are looking to shake up global trade by using their own currencies instead of relying on the dollar.
At the 2026 Business Forum, India's commerce minister Piyush Goyal said this move could help the group, which covers 40% of world GDP, "create jobs, wealth and prosperity for countries that represent half of mankind and 40% of the global gross domestic product (GDP)."
External affairs minister S Jaishankar added that building self-reliance and stronger connections among members is key for economic resilience.
Piyush Goyal pushes smoother trade clearances
India stands out in BRICS with its exports in engineering, electronics, and pharma.
Goyal pushed for smoother regulations and faster clearances to make trade easier.
Russia suggested starting a BRICS grain exchange so prices aren't dictated from outside, while other leaders called for teamwork in tech like AI, digital services, semiconductors, and green power for data centers.
All these steps aim to make BRICS more united and ready for the future.