BRICS must translate cooperation into tangible gains for Indian businesses: PHDCCI

Source: Lokmat Times | Original Published At: 2026-09-10 09:16:47 UTC

Key Points

• PHDCCI said the 18th BRICS Summit gives India an opportunity to deepen economic engagement with emerging markets.
• It called for a BRICS Trade Barriers Resolution Mechanism to address customs, documentation, standards, and regulatory barriers.
• It supported wider use of national currencies, including the Indian rupee, for cross-border trade without creating a single BRICS currency.
• It recommended linking BRICS payment systems and using India's UPI for cross-border transactions.
• It urged cooperation on SME access to finance, invoice financing, trade finance, and sector-specific standards and certifications.