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The Strategy for BRICS Economic Partnership 2030 was finalised at the 16th BRICS Trade Ministers' Meeting in Jaipur, which concluded on 8 August 2026 under India's chairship.
It succeeds the earlier partnership strategy that ran to 2025 and will go to BRICS leaders for endorsement at the New Delhi Summit on 12-13 September 2026.
Its pillars cover the multilateral trading system, resilient global value chains, the digital economy, MSMEs and trade finance, financial cooperation, innovation and sustainable development.
Jaipur also produced the GVC Action Plan 2026-2030, the BRICS Principles to Facilitate Digitally Delivered Services and a proposal to study a BRICS invoice discounting mechanism for MSMEs.
Ministers backed WTO reform, including restoration of the two-tier dispute settlement system and preservation of Special and Differential Treatment.
Grouping of eleven members after Indonesia's accession in January 2025, with ten partner countries admitted under the category created at the 2024 Kazan Summit
BRICS-founded multilateral development bank agreed at the 2014 Fortaleza Summit and operational from 2015; membership has since expanded beyond the founding five
Official-level body that negotiates trade deliverables before they reach ministers; met in New Delhi on 3-4 August 2026
The rules-based trading system BRICS ministers committed to defend; its Appellate Body has been non-functional since 2019
First BRIC summit at Yekaterinburg, Russia
South Africa joins, making the grouping BRICS
Fortaleza Summit agrees to establish the New Development Bank and the Contingent Reserve Arrangement
Kazan Summit creates the BRICS partner-country category
Indonesia becomes the eleventh full member
Third CGETI meeting, New Delhi
16th Trade Ministers' Meeting in Jaipur finalises the Economic Partnership Strategy 2030
18th BRICS Summit, New Delhi — leaders to endorse the strategy
GS Paper II > India and groupings involving India; GS Paper III > External sector and trade
General Awareness > International institutions, trade finance, cross-border payments
With reference to a grouping of countries known as BRICS, consider the following statements: 1. The First Summit of BRICS was held in Rio de Janeiro in 2009. 2. South Africa was the last to join the BRICS grouping. Which of the statements given above is/are correct?
Answer: 2 only
Consider the following statements with regard to BRICS: I. 16th Summit... Russia... II. Indonesia has become a full member... III. Theme... Which of the statements given above is/are correct?
Answer: I and III
A production network in which different stages of making a product are located in different countries
A financing method in which a firm raises immediate cash against unpaid invoices, widely used to ease MSME working-capital stress
WTO provisions allowing developing countries longer transition periods and greater flexibility in obligations