Union Commerce Minister Piyush Goyal, at the conclusion of the two-day meeting of BRICS Trade and Industry Ministers in Jaipur on August 7, 2026, had said: “Bharat BRICS currency ke paksh mein nahin hai. Hum samarthan nahin dete ki aisi koi BRICS currency jaisi nayi yojana layi jaye. Bharat ka uske upar virodh hai (India is not in favour of a BRICS currency. We do not support the introduction of any such BRICS currency scheme; India opposes it).” Together, BRICS countries account for about 49% of the world’s population and around 40% of global GDP in terms of purchasing power parity.