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Union Minister of Commerce and Industry Shri Piyush Goyal addressed the BRICS Women's Business Alliance Women-Led Development Conference in New Delhi as Chief Guest.
He framed the entrepreneur's problem as three borders to cross - access to credit, access to buyers and markets, and access to predictable rules - and mapped BRICS action onto each.
He called for a common BRICS trade platform, agreed in the Jaipur Consensus, carrying electronic trade documents, e-invoices, electronic bills of lading and e-customs declarations.
He urged BRICS members to turn the proposed Women's Advancement Fund into a concrete initiative and to make the invoice discounting platform study reflect women exporters' actual needs.
He stated that India's merchandise exports grew by more than 15 per cent during April-August, and that the economy grew 7.8 per cent at constant prices in the April-June quarter.
The grouping's platform for women's entrepreneurship. Decided on by BRICS leaders in 2019; the Declaration establishing it was approved at the XII BRICS Summit on 17 November 2020, under Russia's chairship. Works through national chapters.
Apex business-to-business body, running the invoice discounting platform study. Established at the Fifth BRICS Summit, Durban, 26-27 March 2013, originally with 25 members - five entrepreneurs per founding country.
The BRICS multilateral development bank. Agreement signed 15 July 2014 at the Sixth Summit, Fortaleza. Initial authorised capital $100 billion, subscribed $50 billion, shared equally among founders Brazil, Russia, India, China, South Africa. Membership open to UN members.
Implements the Foreign Trade Policy and administers foreign trade regulation. Issues the Importer-Exporter Code (IEC), licences and export incentives, and runs the Districts as Export Hubs initiative through its regional authorities.
Govern India's foreign trade regime and expand exports towards roughly $2 trillion.
Key: Notified 31 March 2023, in force from 1 April 2023, with NO end date - revised as required, unlike the earlier fixed five-year policies. Covers e-commerce exports, ease of doing business and districts as export hubs.
Make each district a manufacturing and export hub by branding and promoting products with export potential.
Key: ODOP is operationally merged with DGFT's Districts as Export Hubs initiative, with DPIIT a major stakeholder. Export-potential products have been identified from all 765 districts, which prepare District Export Action Plans.
Provide a transparent online channel for public procurement by central, state and local governments, with special encouragement for women-led enterprises.
Key: Launched 9 August 2016 under the Ministry of Commerce and Industry; run by the GeM Special Purpose Vehicle, a fully government-owned Section 8 company under the Department of Commerce. Inclusiveness for MSEs, startups, SHGs and women-led enterprises is one of its three pillars.
Raise self-help group women to an annual household income of Rs 1 lakh or more.
Key: Runs under the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM), launched 2011, Ministry of Rural Development. Note the nuance: the official benchmark is annual HOUSEHOLD income of at least Rs 1 lakh; the speech cited personal income.
Jim O'Neill of Goldman Sachs coins 'BRIC' in the paper 'Building Better Global Economic BRICs'.
First BRIC Leaders' Summit, at Yekaterinburg, Russia.
South Africa is invited to join, making the grouping BRICS.
BRICS Business Council established at the Fifth Summit, Durban.
Agreement on the New Development Bank signed at the Sixth Summit, Fortaleza.
Declaration establishing the BRICS Women's Business Alliance approved at the XII Summit.
Egypt, Ethiopia, Iran, Saudi Arabia and the UAE join as full members.
Indonesia becomes a full member, taking the grouping to eleven.
Under India's chairship, the 16th BRICS Trade Ministers' Meeting and 10th Industry Ministers' Meeting are held at Jaipur; the Jaipur Consensus is adopted.
Adopted at the 16th BRICS Trade Ministers' Meeting, Jaipur, August 2026: a study on a BRICS Invoice Discounting Mechanism to bridge the trade finance gap, Guiding Principles for Credit Assessment Frameworks for Export-Oriented MSMEs (assessing firms on cash flows rather than collateral alone), and the Women's Advancement Fund proposal this speech asks to be made concrete.
Finalised at Jaipur for the leaders' endorsement, covering trade, investment, digital economy, industry, innovation, financial cooperation and sustainable development.
Jaipur also approved BRICS Principles to Facilitate Digitally Delivered Services Across Borders - the multilateral hook for the e-invoice and e-bill-of-lading platform proposed here.
Women as architects rather than beneficiaries - the same framing India used during its G20 presidency, and the conceptual core of any mains answer here.
GS Paper 2 > International Relations > Bilateral, Regional and Global Groupings Involving India
General Awareness > International Organisations
General Awareness > Multilateral Institutions and Trade Finance
The Fortaleza Declaration', recently in the news, is related to the affairs of
Answer: BRICS
Consider the following statements: 1. New Development Bank has been set up by APEC. 2. The headquarters of New Development Bank is in Shanghai. Which of the statements given above is/are correct?
Answer: 2 only
The outcome of the 16th BRICS Trade Ministers' Meeting at Jaipur, August 2026, carrying the invoice discounting mechanism study, MSME credit assessment principles and the Women's Advancement Fund proposal.
A trade finance method in which a business raises working capital against its unpaid invoices instead of pledging physical collateral - the route proposed for women exporters without credit histories.
A digital equivalent of the shipping document evidencing title to goods in transit; one of the four instruments proposed for a common BRICS digital trade platform.
A policy framing in which women are the drivers and architects of growth, as distinct from 'women's development', where they are its beneficiaries.