NEW DELHI– India has called for the removal of export controls among BRICS nations, emphasizing the need for a more open and inclusive trade regime within the bloc. The proposal was made during a BRICS Trade Ministers’ meeting held on May 21 in Brasília, hosted under Brazil’s presidency.
Themed “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance,” the meeting aimed to advance economic collaboration among emerging economies. India, which will assume the BRICS presidency in 2026, praised Brazil’s “solution-oriented” leadership in addressing key trade challenges.
A major outcome of the meeting was the adoption of a joint declaration and three annexures focused on reforming global trade governance. These include a BRICS statement on World Trade Organization (WTO) reform, a framework for governing the data economy, and a trade and sustainable development framework. Together, these documents reinforce BRICS’ commitment to a fair, rules-based global trading system.
In a speech delivered on behalf of Union Commerce and Industry Minister Piyush Goyal, India expressed strong support for decentralizing the global trade architecture to better serve the developmental needs of the Global South. The statement welcomed Indonesia’s entry into BRICS, which will bring the bloc’s membership to ten by 2025.
India also reiterated its call for a permanent solution on the issue of public stockholding (PSH) for food security at the WTO and highlighted its “30 for 30” proposal, which aims to implement 30 meaningful reforms to mark the WTO’s 30th anniversary in 2025. The statement emphasized that sustainable development remains deeply rooted in India’s cultural values and must remain central to international trade policy.
Yashvir Singh, Economic Adviser to India’s Department of Commerce, represented the country at the meeting. He called for the elimination of restrictive trade practices that disrupt critical supply chains and urged developed countries to support the concessional transfer of Environmentally Sound Technologies (ESTs), backed by sufficient financial resources.
India also spotlighted its Mission LiFE initiative, which promotes mindful consumption and a circular economy as part of a global effort to ensure climate equity.
The BRICS bloc—originally comprising Brazil, Russia, India, China, and South Africa—has expanded in recent years to include Egypt, Ethiopia, Iran, the United Arab Emirates, and now Indonesia. With the addition of its newest member in 2025, the group aims to further strengthen the voice of the Global South in international economic governance. (Source: IANS)
