World · India Bureau
India urges BRICS nations to open markets, ease trade rules
India's Commerce and Industry Minister has called on fellow BRICS members to lower trade barriers and simplify business regulations to strengthen economic ties within the bloc. The appeal was made during discussions at the BRICS Business Forum.
LSN India ·
India has made a fresh appeal to its BRICS partners to open their markets and streamline trade regulations to deepen economic cooperation within the grouping. Commerce and Industry Minister Piyush Goyal raised the call during the BRICS Business Forum, urging member nations to create a more conducive environment for bilateral and multilateral trade.
Goyal emphasized that BRICS nations should remove impediments to market access and simplify business norms to facilitate greater commercial engagement. The minister highlighted the untapped potential for trade and investment among the bloc's members, which collectively represent a significant share of global GDP and population.
The appeal underscores India's push to leverage the BRICS platform for economic integration and to reduce dependence on Western-dominated trade structures. Simplifying regulatory frameworks and improving market access could unlock opportunities across sectors including manufacturing, services, and technology, Goyal suggested.
The comments reflect New Delhi's broader strategy to strengthen South-South cooperation and create alternative economic partnerships. India's initiative comes as BRICS members seek to enhance their collective economic influence and reduce trade friction that has historically constrained intra-bloc commerce.