New Delhi, September 13 (Daily Kiran) : The Engineering Export Promotion Council (EEPC) of India has urged for the removal of non-tariff barriers and the establishment of streamlined payment systems to enhance trade among BRICS nations. This call comes as the council highlights the necessity of these changes to invigorate commerce between member countries.
Pankaj Chadha, chairman of EEPC India, stated that nearly 75% of the challenges faced by Indian exporters could be addressed by reducing non-tariff barriers and implementing efficient payment systems in local currencies. He emphasized that resolving these issues is crucial for the growth of trade within the BRICS framework.
Chadha noted, “We can resolve about 75% of exporters’ challenges by eliminating non-tariff barriers and adopting effective payment systems in respective currencies.” He stressed the urgency of reaching a consensus on non-tariff barriers among BRICS nations.
The EEPC chairman further explained that non-tariff measures often increase export costs more than tariffs do. Thus, he called for immediate action to simplify regulatory processes among trading nations.
Currently, the BRICS group represents nearly a quarter of global trade. If member countries can successfully reduce non-tariff barriers and improve coordination in payment systems, their share in global trade could increase significantly.
This initiative is particularly vital for India, where engineering products account for one of the largest export sectors. Official data indicates that engineering exports make up approximately 27% of India’s total merchandise exports.
Key markets for Indian engineering products within the BRICS nations include Brazil, China, Indonesia, Saudi Arabia, and South Africa.
For context, the EEPC India is the leading trade and investment promotion organization in the country, sponsored by the Ministry of Commerce and Industry. It has been recognized as an ideal Export Promotion Council (EPC) in India and has served the engineering sector for over 70 years. Since the 1950s, India has transformed from a $10 million engineering exporter to one that achieved $122.43 billion in exports between April 2025 and March 2026.
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