News
UPI Goes Beyond India: Goyal Pushes BRICS to Link Payment Systems
India wants BRICS countries to make cross-border trade as easy as digital payments at home.
At the BRICS Business Forum in New Delhi, Commerce and Industry Minister Piyush Goyal urged member and partner countries to link their payment systems, increase trade in local currencies and make digital trade more accessible.
The pitch comes as India hosts the 18th BRICS Summit on September 12 and 13.
At the centre of India’s proposal is something most Indians already use every day: UPI.
From scanning a QR code to paying across borders
For an Indian consumer, paying through UPI is almost effortless.
You scan a QR code, enter the amount and the money moves from one bank account to another.
But cross-border payments can be a very different story.
International transactions can involve multiple banks, currencies, intermediaries and regulatory requirements. This can make payments slower and more expensive, particularly for businesses dealing with smaller-value transactions.
Goyal wants BRICS countries to explore whether their payment systems can be linked to make such transactions easier.
India already has experience in taking UPI beyond its borders. Goyal said UPI is currently accepted in 11 countries and called on BRICS member and partner countries to link their payment systems.
The larger idea is simple: make digital payments work across borders just as seamlessly as they do within them.
What does local-currency trade mean?
There is another important part of Goyal’s proposal: trading in each other’s local currencies.
Today, the US dollar plays a major role in international trade. When two countries trade with each other, their currencies may often be converted through the dollar or through other established international settlement mechanisms.
Trading more directly in local currencies could reduce some of that dependence.
For example, an Indian company importing goods from another BRICS country could potentially settle the transaction using the rupee and the partner country’s currency, rather than relying on the dollar as an intermediary.
This does not mean the BRICS countries are creating a common currency.
The proposal is more practical: use existing national currencies and build payment systems that can connect them.
Why is India pushing this?
Because BRICS has become a significant trading bloc.
According to Commerce Secretary Rajesh Agrawal, trade among BRICS countries increased from $84 billion in 2003 to nearly $1.2 trillion in 2024. The grouping now accounts for nearly one-fourth of global trade.
If that trade continues to grow, payment infrastructure becomes increasingly important.
A company can find a buyer in another country. It can manufacture the product. It can arrange shipping.
But if getting paid remains complicated, expensive or slow, that can still become a barrier to doing business.
A smoother payment network could therefore support the next phase of intra-BRICS trade.
UPI is India’s big advantage
India isn’t proposing this from scratch.
UPI has already become one of the country’s most successful examples of digital public infrastructure.
The system has transformed how Indians make everyday payments and has increasingly attracted international interest.
Goyal highlighted India’s growing digital public infrastructure and UPI’s global footprint while making his pitch to BRICS countries.
For India, this creates an opportunity to export not just goods and services but also digital infrastructure and technology standards.
The idea is to move from being a user of global payment systems to becoming a country whose payment technology helps shape how international trade works.
It is not just about payments
Goyal’s proposal was part of a broader push to make trade between BRICS countries easier.
He called for countries to open their markets, simplify regulatory procedures, speed up the clearance of consignments and strengthen supply chains, particularly for raw materials and critical minerals.
He also highlighted India’s strengths in engineering goods, electronics and pharmaceuticals and pointed to opportunities for greater cooperation in agriculture, technology and services.
That means the payment-system proposal is just one piece of a much larger puzzle.
The ambition is to make it easier for businesses in BRICS countries to find customers, suppliers and partners across borders.
What could this mean for Indian businesses?
For large corporations, cross-border payment systems are already part of doing business internationally.
But for smaller businesses, exporters, startups and service providers, simplifying payments could make a bigger difference.
Imagine an Indian MSME selling products to a customer in another BRICS market.
If payment systems are better connected, the business could potentially receive payments faster and with fewer intermediaries.
For exporters, this could mean lower friction.
For startups, it could make entering new markets easier.
For consumers, it could eventually mean more convenient international digital payments.
The impact will depend on how many countries participate and how their systems are connected. But the potential is significant.
The bigger challenge: making countries work together
Linking payment systems sounds straightforward.
It isn’t.
Every country has its own banking regulations, currencies, financial infrastructure, data rules and security requirements.
A successful cross-border payment network would need countries to agree not just on technology but also on regulation, security, currency settlement and trust.
There is also the question of how quickly businesses and financial institutions adopt such systems.
So the announcement is an important first step, but building a truly connected BRICS payment network would require sustained cooperation.
What happens next?
India’s BRICS presidency is focused on “Building for Resilience, Innovation, Cooperation and Sustainability.”
The push for connected payment systems fits neatly into that agenda.
If BRICS countries can make progress on payment linkages and local-currency settlements, it could eventually create a more integrated digital trade ecosystem across some of the world’s fastest-growing economies.
For India, there is an added opportunity.
UPI started as a way to make payments easier for Indians.
Now, India is asking whether the same thinking can help make international trade easier too.
Source: DD News
News
World Investor Week 2026: What SEBI and Mutual Fund Companies Are Doing to Make Investing Simpler
From college campuses to awareness campaigns, here’s how the financial industry is trying to help Indians make better money decisions.
Investing can feel confusing when you are just starting out. Should you invest in mutual funds or stocks? How do you know if an investment tip is genuine? And what should you do when the market falls?
This World Investor Week, the focus is on helping people find answers to these questions.
Observed in India from October 5 to 11, World Investor Week 2026 is an initiative aimed at improving investor awareness and protecting people from financial risks. This year’s campaign carries the message “Samajh Se Investing Simple” – making investing simpler through better understanding.
From new awareness campaigns to programmes in colleges and investor education initiatives, here are some of the efforts underway.
1. SEBI’s new campaign wants to make investing easier to understand
On October 5, the Securities and Exchange Board of India (SEBI) launched “Samajh Se Investing Simple” under Project Jagrook.
The campaign aims to help people understand different investment options, the risks involved and how to make informed financial decisions. It also focuses on identifying genuine investment platforms and avoiding financial fraud.
SEBI has also introduced the MUST initiative Mentoring of University/College Students by Trainers to take financial education to campuses. Under this programme, trained faculty members, staff and senior students can help others learn about investing and securities markets.
The regulator has also announced an official WhatsApp channel for sharing investor-awareness information.
Why it matters: You don’t need to become a stock market expert overnight. But understanding the basics, knowing the risks and spotting suspicious investment offers can help you make better decisions with your money.
2. AMFI and Panjab University are bringing financial education to campuses
The Association of Mutual Funds in India (AMFI) has partnered with Panjab University to promote financial literacy and create opportunities for students interested in becoming mutual fund distributors.
The partnership, announced on October 5, covers Punjab, Haryana, Himachal Pradesh and Chandigarh. It will use a Train the Trainer model, where selected faculty members receive training to conduct financial literacy programmes.
Interested students will also be encouraged to pursue the relevant National Institute of Securities Markets (NISM) certification and obtain an AMFI Registration Number (ARN), which is required to distribute mutual funds.
Why it matters: Learning about money shouldn’t begin only after you start earning. Introducing financial education in colleges can help young adults understand investing before they make their first big financial decisions. The partnership also creates a possible career pathway for students interested in mutual fund distribution.
3. PPFAS Mutual Fund is sharing investor education resources
PPFAS Mutual Fund has created a dedicated World Investor Week 2026 page featuring educational videos and links to its investor lessons.
The idea is to give investors access to learning resources that can help them build a better understanding of investing.
Why it matters: If you’re new to investing, educational resources can help you learn at your own pace, understand unfamiliar terms and ask better questions before putting your money into an investment.
4. Investor awareness is also reaching beyond financial classrooms
SEBI’s World Investor Week programme includes investor-awareness activities, educational resources, quizzes and contests. The regulator’s message for investors also highlights an important lesson: market ups and downs are normal, and investors should avoid making rushed decisions in response to volatility.
SEBI Chairman Tuhin Kanta Pandey also addressed the AMFI-Pinkathon Investor Awareness Programme on October 8, under the theme “Every Step Counts – Towards Financial Well-being.”
These initiatives bring investor awareness into different settings, helping make financial education more visible and accessible.
What does this mean for you?
World Investor Week is a reminder that investing isn’t just about finding the next stock or mutual fund that could deliver high returns. It’s also about understanding where your money is going and what risks you’re taking.
Here are a few simple things you can do:
- Understand before you invest: Learn how a product works and what risks come with it.
- Don’t blindly follow tips: Be cautious of guaranteed-return promises and investment advice from unverified sources.
- Stay calm when markets fall: Short-term market movements are normal. Avoid making rushed decisions out of fear.
- Check who you’re dealing with: Verify investment platforms, advisers and payment requests before sharing money or personal details.
News
World Egg Day: Why Your Everyday Protein Could Cost More This Winter
From rising poultry feed costs to growing demand for maize, here’s how changes in the energy and agriculture sectors could affect your grocery budget.
Eggs are among the simplest ways to add protein to your daily diet without spending too much. But when their prices rise, even a small increase can add up for households that buy them regularly.
As India celebrates World Egg Day on October 9, 2026, egg prices are also drawing attention to a bigger question: how can changes in industries far removed from our kitchens affect everyday expenses?
A September 2026 report by India Today, citing a LocalCircles survey of more than 67,000 consumer responses across 287 districts, found that 62% of respondents reported egg price increases of 10% to 50% or more over the previous six months.
So, what is driving these increases, and what could they mean for your wallet?
Why are egg prices rising?
1. The maize and ethanol connection
One of the key ingredients in poultry feed is maize, which provides energy to chickens. However, maize is also used to produce ethanol, a biofuel blended with petrol in India.
As demand for ethanol grows, more maize may be directed towards fuel production. This creates competition between industries that need the same agricultural commodity, including poultry farmers who depend on it to feed their birds.
When maize becomes more expensive, the cost of poultry feed can rise. Farmers may then pass on some of these additional expenses through higher egg prices.
2. Rising poultry feed costs
Maize is not the only ingredient used in poultry feed. Soybean meal and other nutrients are also important for poultry health and egg production.
A September 2026 report by India Today noted that poultry feed costs had risen by around 15% year-on-year in July. Higher input costs can squeeze farmers’ margins and contribute to higher prices for consumers.
Weather conditions can add to the pressure. Heat stress can affect poultry productivity, while disease outbreaks and supply disruptions can increase production costs.
3. Could winter make eggs more expensive?
Egg consumption often increases during colder months. If demand rises faster than supply, prices may face additional pressure.
However, further price increases are not guaranteed. Actual prices will depend on feed costs, poultry production, local supply and seasonal demand.
What Does This Mean For Your Monthly Budget?
A small increase in the price of an egg may not seem significant, but regular purchases can make a difference over a month.
For example, if you eat two eggs daily, you consume around 60 eggs in 30 days. If the price per egg rises by ₹2, that means an additional ₹120 a month. For a household consuming four eggs daily, the extra expense would be ₹240.
These are illustrative calculations, not estimates of the current price increase.
The Bigger Picture
India’s ethanol-blending programme aims to reduce dependence on conventional petrol. However, when crops such as maize are used for both fuel and animal feed, changes in demand can affect production costs across industries.
Ethanol production is not the only reason egg prices change. Weather, feed costs, supply and consumer demand all play a role.
This World Egg Day, the takeaway is simple: everyday expenses are connected to the wider economy. Understanding these connections can help you make sense of rising grocery bills and manage your household budget better.
News
How the Russia-Ukraine War Is Affecting Food Prices in India
India’s food prices could face fresh pressure as the ongoing Russia-Ukraine conflict disrupts supplies of yellow peas and sunflower oil. Both commodities are important to India’s food market, and any increase in their import costs can affect prices across the supply chain.
According to a report in The Economic Times, uncertainty around shipments from the Black Sea region has raised concerns about the availability and cost of these products in India.
Why Are Yellow Peas and Sunflower Oil in Focus?
Russia and Ukraine are important suppliers of agricultural commodities to global markets. The conflict has affected trade routes, shipping schedules and the movement of goods from the region.
Sunflower oil is particularly relevant for India, which depends heavily on imports to meet its edible oil requirements. When supplies become uncertain or shipments are delayed, importers may have to pay more to source the commodity from alternative markets.
Yellow peas, meanwhile, are used in food products and as a source of protein. Changes in their availability and import costs can affect traders, food manufacturers and businesses that use them as ingredients.
How Can the Conflict Affect Prices in India?
The impact is not limited to the cost of importing a commodity. Higher shipping costs, supply delays and the need to find alternative suppliers can all add to the final price.
If importers pay more to bring these products into India, some of that increase could eventually be passed on to wholesalers, retailers and consumers. However, the extent of the impact will depend on how long supply disruptions continue, the availability of alternatives and domestic market conditions.
For sunflower oil, higher prices could put pressure on household grocery budgets. For yellow peas, the impact could be felt through the cost of the commodity itself and products that use it.
Will Your Grocery Bill Go Up?
For households, the key concern is whether higher import costs translate into more expensive everyday essentials.
Edible oil is a regular kitchen purchase, so even a small increase in its price can add to monthly grocery expenses over time. Consumers may also notice price changes in packaged foods and other products that use imported agricultural ingredients.
However, a rise in global prices does not automatically mean an immediate or equal increase in retail prices across India. Existing inventories, domestic supply, taxes and competition between sellers can influence how quickly international price changes reach consumers.
From Global Markets to Your Kitchen
The Russia-Ukraine conflict is another reminder of how global events can affect household budgets in India. When a country relies on imports for essential commodities, disruptions thousands of kilometres away can eventually influence prices at the local grocery store.
For now, the extent of the impact on Indian consumers will depend on how supplies, shipping and global commodity prices evolve.
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