New Delhi: The country's apex engineering exports promotion body, EEPC India, has called for eliminating non-tariff barriers and having a smooth payment mechanism among BRICS nations.
"Around 75% of the problems faced by exporters can be solved by eliminating non-tariff barriers and having a smooth and efficient payment mechanism in individual national currencies," said Pankaj Chadha, Chairman, EEPC India, in a statement.
He stated that an agreement on non-tariff barriers between BRICS nations is the need of the hour.
"We can have a common agreement on non-tariff barriers between BRICS nations and agree to a set of standards. While we have been discussing this for a while now, it is time to move to its execution," he said.
It is a widely recognised fact that non-tariff measures add more costs to exports than tariffs in most countries. This necessitates urgent steps to simplify regulatory procedures between trade partners.
As BRICS accounts for nearly one-fourth of global trade, eliminating non-tariff barriers can further increase its share of total cross-border trade. With engineering goods among India's major exports, trade facilitation measures would significantly boost the sector.
According to the latest available official data, India's engineering exports account for nearly 27% of the country's total merchandise exports. Brazil, China, Indonesia, Saudi Arabia, and South Africa are key destinations for engineering exports among the major BRICS nations.
Notably, according to official data, engineering goods exports rose nearly 25% year-on-year in August 2026 to US$12.32 billion. Cumulatively, engineering exports during April-August 2026-27 stood at US$58.70 billion, up 19.55% year-on-year from the corresponding period last year.
Commenting on the August trade numbers, the EEPC chairman said that while the engineering sector has performed strongly, the global trade and economic environment remains challenging. Key challenges for the sector include high shipping costs, geopolitical tensions and the protectionist approach taken by some developed countries.
“Going forward, as India signs more free trade pacts with key partners and the engineering community further diversifies its product basket and markets, we hope to sustain the ongoing growth momentum and contribute to India's export ambitions.”
