Now Reading: BRICS trade ministers adopt Jaipur Consensus, focus on MSME credit
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BRICS trade ministers adopt Jaipur Consensus, focus on MSME credit
BRICS trade ministers adopt Jaipur Consensus, focus on MSME credit
BRICS trade ministers adopted the Jaipur Consensus on Friday, agreeing to study a joint invoice discounting mechanism and create cash-flow based credit assessment guidelines for MSMEs. The move aims to narrow a…
The Story in Brief
BRICS trade ministers adopted the Jaipur Consensus on Friday, agreeing to study a joint invoice discounting mechanism and create cash-flow based credit assessment guidelines for MSMEs. The move aims to narrow a $2.5-trillion global trade finance gap. Ministers also finalised a 2026-2030 action plan for supply chain resilience in critical sectors like pharmaceuticals and food security, involving a BRICS Technical Council and the 'BRICS Connect' initiative. The meeting in Jaipur was chaired by Union Minister Piyush Goyal under India's chairship.
The Indian Opinion
The Jaipur Consensus talks of cash-flow lending for MSMEs and supply chain resilience, but the real test is execution. BRICS has a history of ambitious declarations that gather dust. The $2.5-trillion trade finance gap will not close on paper. Will the proposed BRICS Connect platform and Technical Council actually coordinate national policies, or remain talking shops? The proof will be in whether an Indian or African startup can get credit under these guidelines by next year.
Sources (2): hindustantimes.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
