Indian industry wants BRICS to ease trade barriers, payments and unlock investment

Source: Moneycontrol | Original Published At: 2026-09-10 12:24:59 UTC

Key Points

• Indian industry bodies want the BRICS Summit to focus on reducing trade barriers, improving access to trade finance, easing cross-border payments and strengthening investment and supply-chain partnerships.
• PHDCCI proposed a BRICS Trade Barriers Resolution Mechanism for businesses to flag customs, paperwork, standards and regulatory issues and track their resolution.
• Industry bodies called for wider use of local currencies, interoperable payment systems linked to India’s UPI, functioning banking channels and invoice-financing support for smaller exporters.
• FIEO urged India to translate BRICS political engagement into measurable gains in exports, investment, technology collaboration and resilient supply chains.
• The New Development Bank is expected to expand financing for transport, industrial zones, clean energy, digital infrastructure and smaller businesses, including through local-currency loans.
• The BRICS Business Forum is expected to gather more than 2,000 delegates, including international companies, to discuss trade, investment, services, the digital economy and agricultural security.