India has urged BRICS nations to dismantle export controls and push for inclusive trade reforms, advocating for a decentralised global trade order that better serves developing economies.
The appeal was made at the BRICS Trade Ministers’ meeting held on May 21 in Brasília, hosted under Brazil’s presidency. Representing Union Commerce and Industry Minister Piyush Goyal, Economic Adviser Yashvir Singh called for the elimination of trade restrictions that hinder supply chains. He also urged developed nations to support the concessional transfer of Environmentally Sound Technologies (ESTs), backed by adequate funding, to help the Global South transition to sustainable development. India welcomed the adoption of a joint BRICS declaration and three annexures focused on WTO reform, data governance, and sustainable trade practices. These documents reinforce the bloc’s collective push for a fair, rules-based trading system and aim to strengthen South-South cooperation.
In its official statement, India reiterated its longstanding demand for a permanent solution to the WTO’s public stockholding (PSH) issue—critical for food security—and promoted its “30 for 30” reform agenda to mark the WTO’s 30th anniversary in 2025. India also highlighted its Mission LiFE initiative, which promotes mindful consumption and a circular economy, positioning it as a key contribution to global climate equity and sustainable economic practices. The meeting, themed “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” praised Brazil’s “solution-oriented” presidency. India is set to assume the BRICS presidency in 2026.
India also welcomed Indonesia as the bloc’s latest member, joining Egypt, Ethiopia, Iran, and the UAE, bringing BRICS’ membership to ten by 2025. The expansion aims to amplify the voice of emerging economies in shaping global economic governance.
