BRICS Business Forum 2026: Piyush Goyal pushes nations to open markets, cut trade barriers

The BRICS Business Forum, comprising India, Brazil, Russia, China, and South Africa, is poised to open new markets and business opportunities for Indian companies, according to industry representatives. Discussions revolve around removing trade barriers, enhancing direct business connections, and broadening investment prospects among member countries.

Eurasia Motors' Managing Director, Evgeniy Zakharov, highlighted that the platform aids businesses in directly connecting with potential partners, thus decreasing reliance on intermediaries. While trade is still minimal in certain markets, he anticipates heightened business engagement will boost commercial activity over time.

Dereje Walelign Mera, Chairman of the Ethiopian Solar Energy Development Association, explained that the BRICS Business Council employs sector-specific working groups to pinpoint obstacles hindering cross-border commerce. These groups are scrutinizing tariffs and other regulatory barriers, with suggestions intended to facilitate trade and investment among BRICS+ economies. Eradicating these barriers could bolster South-South collaboration and enable businesses to function more efficiently across member nations.

The BRICS Business Forum convenes policymakers and industry leaders to deliberate on trade, investment, finance, technology, and comprehensive economic cooperation. For Indian businesses, stronger commercial integration within BRICS could unlock access to fresh customers and investment prospects while diminishing dependence on conventional markets.

Enhanced cooperation may also enable Indian firms to diversify their global supply chains and deepen partnerships with emerging economies. Anticipated business recommendations from the forum will contribute to the overarching BRICS agenda, encompassing sectors like intra-group investment, the digital economy, MSMEs, technology collaboration, and value-chain integration.

Enhanced business-to-business engagement could ultimately transform BRICS cooperation into more substantial commercial avenues for Indian exporters and enterprises.