{
  "id": 271195,
  "title": "BRICS focuses on open markets, cash-flow lending and MSME expansion at Jaipur summit",
  "url": "https://urgent.news/2026/08/07/brics-focuses-on-open-markets-cash-flow-lending-and-msme-expansion-at",
  "topic": "world",
  "section": "World",
  "published": "2026-08-07T16:13:13.000Z",
  "source": {
    "name": "Live Mint",
    "slug": "live-mint",
    "url": "https://www.livemint.com/news/india/brics-trade-ministers-call-for-economic-diversification-internationalisation-of-msmes-11786117516936.html"
  },
  "original_language": "en",
  "account": "At the 16th BRICS Trade Ministers meeting in Jaipur, the ministers from Brazil, China, Egypt, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates emphasized the importance of opening markets, promoting economic diversification, and expanding micro, small, and medium enterprises (MSMEs) during the newly adopted 'Jaipur Consensus'. They agreed to delve into a BRICS invoice discounting mechanism and establish credit-assessment guidelines for export-focused MSMEs, aiming to tackle a $2.5 trillion global trade finance gap that disproportionately affects smaller businesses. These guidelines prioritize cash flow over physical assets or collateral. The ministers also discussed a global value chains (GVCs) plan, setting a 2026-2030 action plan, which includes creating a BRICS Technical Council, launching the 'BRICS Connect' initiative, and conducting joint supply chain studies. Additionally, they are exploring strategic investment and supply chain platforms in critical sectors such as pharmaceuticals and food security. The meeting, chaired by India's Commerce and Industry Minister Piyush Goyal, concluded with a work plan and the progression towards finalizing the BRICS Economic Partnership 2030 strategy, encompassing the multilateral trading system, trade in services, digital economy, industry, innovation, technology, trade and investment, financial cooperation, and sustainable development.",
  "summary": "At the 16th BRICS Trade Ministers meeting in Jaipur, the trade ministers of BRICS countries focused on opening up markets, economic diversification, and the internationalization of micro, small, and medium enterprises (MSMEs). Under the newly adopted 'Jaipur Consensus', the ministers agreed to study a BRICS invoice discounting mechanism and established credit-assessment guidelines for export-focused MSMEs, which evaluate companies based on cash flow rather than physical assets or collateral. This is aimed at narrowing a $2.5 trillion global trade finance gap that heavily impacts smaller businesses.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}