Eliminating Non-Tariff Barriers and Smooth Payment Mechanisms Key to Boosting BRICS Trade: EEPC India

Source: CNBC TV18 | Original Published At: 2026-09-13 11:04:12 UTC

Key Points

• EEPC India urged the elimination of non-tariff barriers and the creation of smooth payment mechanisms among BRICS nations to boost trade.
• EEPC India Chairman Pankaj Chadha said about 75% of exporters' problems could be solved by removing non-tariff barriers and using efficient payment systems in national currencies.
• He called for a common agreement among BRICS nations on non-tariff barriers and agreed standards, saying discussions should move to execution.
• EEPC India said non-tariff measures often add more costs to exports than tariffs, making simplified regulatory procedures urgent among trade partners.
• The body noted that BRICS accounts for nearly one-fourth of global trade and that reducing barriers could increase its share of cross-border trade.
• EEPC India said trade facilitation would support India's engineering exports, which account for about 27% of the country's total merchandise exports.
• Brazil, China, Indonesia, Saudi Arabia, and South Africa were identified as key BRICS destinations for Indian engineering exports, while India is currently hosting the BRICS Summit.