India, Sept. 12 -- Finance ministers and central bank governors of Brics nations have expressed "serious" concern at the unilateral imposition of tariffs and non-tariff measures, calling them inconsistent with World Trade Organisation (WTO) rules, and pushed for pragmatic solutions to build an efficient cross-border payment mechanism within the bloc.

In a joint statement issued on Friday after their September 10 meeting in Mumbai, the ministers said the global economy was facing significant headwinds from geopolitical tensions, trade fragmentation, inflationary pressures and growing financial vulnerabilities.

"We continue to have serious concerns with the unilateral imposition of trade and finance-related actions, including the raising ...