India Firmly Rejects BRICS Common Currency Proposal, Piyush Goyal Clarifies Stand Amid Dollar Debate

The expanded BRICS grouping comprises Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the United Arab Emirates.

Beyond the currency issue, Goyal said the ministerial meetings focused on strengthening trade and investment among member countries, improving access to finance for micro, small and medium enterprises (MSMEs), expanding digital commerce and enhancing industrial cooperation.

“The agenda included coordinating our bilateral trade, specifically imports and exports, and ensuring adequate financing and investment for MSMEs through banks and other channels,” he said, adding that ministers also discussed paperless trade and greater use of digital technologies to simplify commercial processes.