business π BRICS pushes for open markets and MSME boost
BRICS trade ministers at the Jaipur summit stressed the need for open markets and economic diversification among members. Under the 'Jaipur Consensus', credit assessment for MSMEs will now focus on cash flow instead of just assets. This move aims to close a $2.5 trillion global trade finance gap affecting smaller businesses worldwide. Additionally, a 2026β2030 action plan was set for supply chain resilience in key sectors. Member nations will also finalize strategies for economic partnership by 2030. π€