EEPC India urges BRICS nations to remove non-tariff barriers and enable national currency payments

Source: Lokmat Times | Original Published At: 2026-09-13 08:40:42 UTC

Key Points

• EEPC India urged BRICS nations to eliminate non-tariff barriers and establish a smooth payment mechanism in national currencies to facilitate trade.
• EEPC India Chairman Pankaj Chadha said these measures could solve up to 75 per cent of problems faced by exporters.
• He called for a common agreement among BRICS nations on non-tariff barriers and a set of standards.
• The industry body noted that BRICS accounts for nearly one-fourth of global trade and that reducing non-tariff barriers could increase the bloc's share in international commerce.
• Trade facilitation measures are expected to benefit India's engineering sector, which contributes nearly 27 per cent of India's total merchandise exports.
• Key BRICS destinations for Indian engineering exports include Brazil, China, Indonesia, Saudi Arabia and South Africa.
• India's engineering goods exports rose 18 per cent year-on-year to $12.24 billion in July despite geopolitical uncertainties and disruptions along key trade routes in West Asia.