India to work with BRICS partners to expand opportunities for women-led enterprises in global trade: Union Minister of Commerce and Industry Shri Piyush Goyal
Union Minister Shri Piyush Goyal addressed the BRICS WBA Women-Led Development Conference in New Delhi, urging BRICS countries to collaborate to expand opportunities for women entrepreneurs in international trade. He highlighted India's domestic initiatives in women's financial inclusion, such as opening nearly 300 million bank accounts and supporting 'Lakhpati Didis', and proposed concrete actions including a common BRICS trade platform and a Women's Advancement Fund ahead of the Strategy for BRICS Economic Partnership 2030.
Why It Matters
This is relevant for competitive exams covering international summits (BRICS), Indian government ministries (Ministry of Commerce and Industry), women empowerment schemes, and key economic growth figures stated by officials.
In Simple Words
Union Minister Shri Piyush Goyal called on BRICS nations to unite in expanding trade opportunities for women entrepreneurs by improving access to credit, markets, and predictable business rules. Speaking at the BRICS WBA Women-Led Development Conference, he shared India's success in empowering women through financial inclusion, self-help groups, and government procurement.
Goyal outlined four key proposals leading up to 2030, including a common BRICS platform for international trade and a Women's Advancement Fund. He emphasized that women should be viewed as architects of growth rather than mere beneficiaries, noting India's target to reach a $30 trillion economy by 2047 through women-led development.
Key Points
- Union Minister Shri Piyush Goyal addressed the BRICS WBA Women-Led Development Conference in New Delhi.
- India has opened nearly 300 million bank accounts for women and provided collateral-free loans.
- Around 100 million rural women are members of nine million self-help groups.
- The number of women earning over Rs. 1 lakh in personal income ('Lakhpati Didis') has crossed 30 million.
- India's merchandise exports grew by over 15 per cent during the first five months of the financial year (April to August).
- India's economy grew by 7.8 per cent at constant prices during the first quarter from April to June.
- India aims to grow from a $4 trillion economy today to a $30 trillion economy by 2047.
- BRICS Trade Ministers recommended the Strategy for BRICS Economic Partnership 2030 for leader endorsement.
Exam Angle
A. To grow from a $4 trillion economy today to a $30 trillion economy by 2047.
Source: Press Information Bureau