In a decisive joint declaration from Mumbai, BRICS finance ministers and central bank governors condemned unilateral trade measures, tariff hikes, and protectionist policies, referencing recent global trade tensions and arbitrary US tariff adjustments, arguing that such actions severely violate WTO rules and harm emerging markets. The finance leadership renewed calls for comprehensive reforms of the IMF and World Bank, demanding increased voting quotas, merit-based leadership selection, and stronger representation for developing nations. Concurrently, Commerce Minister Piyush Goyal urged BRICS nations to interlink national payment systems like India’s UPI, which handles over 250 billion annual transactions, and streamline regulatory barriers to facilitate seamless cross-border trade in local currencies. Details surrounding the India-EU FTA further highlighted that India has secured preferential market access for over 99% of its export value to the EU, complemented by a dedicated mobility framework designed to ease professional movement for Indian skilled workers across European member states.