19 hrs ago
Goyal Calls for Common BRICS Trade Platform, Women’s Fund
Piyush Goyal asked BRICS countries to make it easier for small businesses and women-led businesses to sell across borders.
He suggested creating one online platform where businesses could find buyers and product needs in other member countries.
He also wants a proposed fund for women’s businesses to become a real program.
Goyal said entrepreneurs often struggle to get loans, find customers and understand changing trade rules.
He proposed electronic invoices and other digital trade documents to make business more predictable.
He encouraged women-led business groups to visit other countries and work together in areas such as textiles.
He said BRICS countries should pay more attention to services and digital businesses.
India shared figures about women’s bank accounts, self-help groups and loans to show its efforts to support women entrepreneurs.
Piyush Goyal proposed a common BRICS trade platform to connect small and women-led businesses with buyers and markets.
He urged members to turn the proposed Women’s Advancement Fund into a concrete initiative.
Goyal identified credit, market access and predictable business rules as major barriers for entrepreneurs entering international trade.
He called for electronic trade documents, sector-specific women-led delegations and greater participation in exhibitions and buyer-seller events.
India reported nearly 300 million bank accounts for women and about 560 million small-business loans, with more than 68% going to women entrepreneurs.
- Who
- India’s Commerce and Industry Minister Piyush Goyal, speaking to BRICS business and government representatives.
- What
- Goyal proposed a common BRICS trade platform and urged action on the Women’s Advancement Fund.
- Where
- New Delhi, with reference to the BRICS Commerce and Industry Ministers’ meeting in Jaipur.
- When
- Wednesday, ahead of the BRICS summit; he also referred to a commerce ministers’ meeting held the previous month.
- Why
- To improve credit access, market access and predictable trade rules for small and women-led enterprises.
Key facts
- Main proposal
- A common BRICS platform could help businesses find product requirements and buyers in member countries.
- Women’s initiative
- Goyal urged members to make the proposed Women’s Advancement Fund a concrete initiative.
- Trade barriers
- He identified access to credit, buyers and markets, and predictable business rules as key constraints.
- Digital trade
- He called for e-invoices, electronic bills of lading and e-customs declarations.
- Women’s financial inclusion
- Nearly 300 million bank accounts have been opened for women in India.
- Small-business lending
- India has provided around 560 million loans to small entrepreneurs, with more than 68% going to women entrepreneurs.
- Economic milestone
- Goyal set 2030 as an initial milestone for deeper BRICS economic cooperation.
Quotes
Piyush Goyal
India’s Commerce and Industry Minister
“Foreign trade should not be viewed only as a collateralized business.”
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“architects of New India”
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Sources
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