BRICS Trade & Industry Ministers Adopt Jaipur Consensus; India Rejects BRICS Currency Plan

India's Commerce and Industry Minister Piyush Goyal chaired the 10th BRICS Industry Ministers' Meeting and the 16th BRICS Trade Ministers' Meeting in Jaipur, concluding August 6–7, 2026. Ministers adopted the Jaipur Consensus on a BRICS Invoice Discounting Mechanism, 'Guiding Principles for Credit Assessment Frameworks for Export-Oriented MSMEs,' digitally-delivered-services principles, and a global-value-chains workplan for 2026–2030. Speaking to reporters, Goyal said: 'India is not in favour of a BRICS currency. We do not support the introduction of any such BRICS currency scheme; India opposes it.'