India calls for local currency trade among BRICS to enhance economic resilience
External Affairs Minister Jaishankar emphasized self-reliance amid global economic challenges.
At the recent Brics Business Forum, India's external affairs minister S Jaishankar urged fellow BRICS nations to create a stable trading environment, bolster supply chains, and enable trade in local currencies. Jaishankar emphasized the importance of building resilience, innovation, cooperation, and sustainability during a time of global political and economic upheaval caused by conflicts, pandemics, and climate disruptions.
He called for "greater self-reliance" within BRICS to enhance economic security and highlighted the need for genuine market practices, dependable logistics, a predictable business environment, diverse commercial relationships, and transparent trade and investment. Commerce and industry minister Piyush Goyal reiterated that BRICS accounts for nearly a quarter of global trade and stressed the importance of deep, resilient trade with diversified supply chains to prevent trade from hindering growth and well-being.
Goyal also pushed for BRICS members to open their markets, simplify regulations, speed up clearances, and link payment systems to trade in each other's local currencies.
Written by urgent.news from Hindustan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
