Story perspectives

Merchandise Exports Rise 15% as Goyal Pushes BRICS Payments

By Drooid · Sep 13, 2026, 6:02 AM UTC · How we work

Summary

Story summary

Commerce Minister Piyush Goyal said merchandise exports rose 15% in April-August.
Goyal urged BRICS members to link payment systems and trade in local currencies.
He called for easier professional mobility and mutual qualification recognition across BRICS.
Iranian President Masoud Pezeshkian proposed a $10 billion joint BRICS reinsurance firm for infrastructure.
The 18th BRICS Leaders’ Summit in New Delhi (Sept 12-13) will use theme “Building for Resilience, Innovation, Cooperation and Sustainability.”

History

Historical Context

At the 2009 Yekaterinburg summit, BRICS leaders launched the New Development Bank with an initial subscribed capital of $50 billion, each founding member contributing $10 billion. The bloc’s ongoing push for local-currency trade and reserve mechanisms resurfaces today as India’s Commerce Minister Piyush Goyal calls for deeper currency integration and BRICS debates a $10 billion reinsurance fund.

1 of 2

Story summary

Commerce Minister Piyush Goyal said merchandise exports rose 15% in April-August.
Goyal urged BRICS members to link payment systems and trade in local currencies.
He called for easier professional mobility and mutual qualification recognition across BRICS.
Iranian President Masoud Pezeshkian proposed a $10 billion joint BRICS reinsurance firm for infrastructure.
The 18th BRICS Leaders’ Summit in New Delhi (Sept 12-13) will use theme “Building for Resilience, Innovation, Cooperation and Sustainability.”

1 / 2