EEPC India Calls for Eliminating Non-Tariff Barriers and Smooth Payment Mechanism Among BRICS Nations

Source: The Economic Times | Original Published At: 2026-09-16 05:15:00 UTC

Key Points

• EEPC India called for eliminating non-tariff barriers and establishing a smooth payment mechanism among BRICS nations.
• EEPC India Chairman Pankaj Chadha said about 75% of exporters' problems could be solved by removing non-tariff barriers and enabling efficient payments in national currencies.
• The body urged a common BRICS agreement on non-tariff barriers and standards, stressing that discussions should now move to execution.
• EEPC noted that non-tariff measures often add more export costs than tariffs, making regulatory simplification urgent among trade partners.
• It said BRICS accounts for nearly one-fourth of global trade, and eliminating non-tariff barriers could further increase its share of cross-border trade.
• India's engineering exports account for about 27% of total merchandise exports, with Brazil, China, Indonesia, Saudi Arabia and South Africa among key BRICS destinations.
• Engineering goods exports rose nearly 25% year-on-year in August 2026 to US$12.32 billion, while April-August 2026-27 exports reached US$58.70 billion, up 19.55% year-on-year.