New Delhi, May 23 (H.S.): The 15th BRICS Trade Ministers’ Meeting took place on May 21, 2025, led by Brazil with the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” India expressed opposition to export controls among BRICS nations, advocating mutual support within the bloc. As it prepares to take the BRICS Presidency in 2026, India commended Brazil’s approach in addressing essential trade matters.

A significant outcome was the adoption of the Joint Declaration and three annexures: the BRICS Declaration on WTO Reform, the BRICS Data Economy Governance Understanding, and the BRICS Trade and Sustainable Development Framework, collectively reaffirming BRICS’ commitment to fair global trade. The Declaration stressed that climate-related trade measures should not lead to unjust discrimination or hidden trade barriers.

In a speech by Union Commerce Minister Piyush Goyal, India appreciated Brazil's consensus-building efforts and welcomed Indonesia as a new member. India emphasized its commitment to a transparent multilateral trading system and called for a decentralized trade model that meets the Global South’s developmental needs. Regarding WTO reform, India urged the resolution of longstanding issues, particularly advocating for a Permanent Solution to Public Stockholding for food security and introduced the “30 for 30” initiative aimed at implementing 30 improvements for the WTO’s 30th anniversary in 2025.

Represented by Economic Adviser Yashvir Singh, India called for the elimination of restrictive trade measures, sought concessional transfer of Environmentally Sound Technologies, and highlighted Mission LiFE, advocating mindful consumption. Digital transformation and technology-driven growth were acknowledged as key areas for future collaboration, with India reaffirming its leadership in digital governance.

Hindusthan Samachar / Jun Sarkar