BRICS Day 1: Modi, Piyush Goyal Address Summit With a 'Build Together' Message
BRICS Summit 2026 in Delhi focuses on payment system integration, and local currency trade.
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The BRICS Summit 2026 commenced in New Delhi on 11 September, with leaders from member and partner countries gathering at Bharat Mandapam. Prime Minister Narendra Modi and Commerce Minister Piyush Goyal addressed the summit, which is focused on economic cooperation, payment system integration, and promoting trade in local currencies. The summit is attended by heads of state including Russian President Vladimir Putin, Chinese President Xi Jinping, and Iranian President Masoud Pezeshkian, with security measures heightened across the capital.
According to The Hindu, Piyush Goyal urged BRICS members to link their payment systems and increase trade in local currencies during the BRICS Business Forum. He highlighted India’s Unified Payments Interface (UPI), which has surpassed 250 billion transactions annually and is now accepted in 11 countries, as a model for digital public infrastructure.
As reported by Hindustan Times, the summit’s agenda includes strengthening business ties, diversifying commercial relationships, and building resilient supply networks. Prime Minister Narendra Modi and President Vladimir Putin are scheduled for bilateral talks focusing on defence, energy, technology, and investment cooperation.
As highlighted by Deccan Herald, BRICS finance ministers and central bank governors discussed efficient cross-border payment mechanisms, referencing the BRICS Payment Task Force’s ongoing work. The summit also features cultural events and public art projects celebrating BRICS unity.
Statements at the Business Forum emphasized the need for deep, resilient trade among partners, diversified supply chains, and easier market access. Piyush Goyal called for opening markets to each other’s products, simplifying regulatory procedures, and facilitating faster clearance of consignments.
“I would urge the BRICS member countries and partner countries to link our payment systems, trade in each other’s local currencies, make digital trade global and build together for the future,” Piyush Goyal said.
Midway through the summit, coverage revealed that Goyal also advocated for encouraging agri-tech startups and opening services markets, including easier recognition of professional qualifications across BRICS nations. He identified sectors such as agriculture, pharmaceuticals, engineering, and electronics as key areas for increased cooperation.
In the context of global economic uncertainties, further updates noted that Iranian President Masoud Pezeshkian’s visit to India is significant, given recent tensions in West Asia. Pezeshkian reiterated the importance of BRICS economic resilience and the role of the New Development Bank in reducing reliance on the US dollar.
During the summit, analysis showed that India is positioned as a major pillar of intra-BRICS trade, with engineering goods and electronics leading its manufactured exports. External Affairs Minister S. Jaishankar highlighted India’s manufacturing capabilities and digital innovation as contributions to BRICS economic cooperation.
“BRICS today represents almost one-fourth of global trade, and India is an important pillar of intra-BRICS trade,” Piyush Goyal stated at the forum.
At the end of the first day, as details emerged, Prime Minister Narendra Modi expressed confidence that the summit would feature “positive and meaningful discussions” on issues of global importance, with a focus on global welfare and cooperation among member countries.
Note: This article is produced using AI-assisted tools and is based on publicly available information. It has been reviewed by The Quint's editorial team before publishing.