BRICS nations agree on deeper ties to boost MSME ecosystem
New Delhi, June 21
The BRICS nations agreed to deepen cooperation, drive innovation, and build a stronger, more sustainable, and future-ready MSME ecosystem at the meeting hosted by India at Agra over the weekend, according to an official statement issued on Sunday.
The inaugural session of the BRICS MSME Forum marked a significant step in strengthening collaboration among BRICS nations and fostering a resilient, innovative MSME ecosystem, the statement said,
The event brought together policymakers, senior government officials, industry leaders, entrepreneurs and stakeholders from BRICS member and partner countries, including Brazil, China, Egypt, Ethiopia, Indonesia, Iran, Russia, South Africa, the UAE, Belarus, Cuba, Malaysia, Uganda, and India.
The programme commenced with the inauguration of an exhibition showcasing the diversity and excellence of MSMEs across sectors. The Third SME Working Group Meeting deliberated on the theme 'Building MSME Ecosystem - Sustainable Roots to Global Routes,' with member countries sharing their experiences and policy interventions aimed at strengthening MSME ecosystems.
Two parallel sessions were held, the first was the deliberation by private sector stakeholders of BRICS member countries, while the second was the 3rd SME working group meeting.
During the event, Union Minister for MSMEs Jitan Ram Manjhi highlighted the critical role of MSMEs as engines of economic growth, innovation and employment across BRICS nations and the Global South.
He emphasised the need for stronger BRICS cooperation in areas such as affordable finance, technology adoption, digital transformation, market access, skilling and sustainability. The minister underlined India's commitment to building a resilient and inclusive MSME ecosystem and called for collaborative efforts to strengthen innovation, global value chains and sustainable development across BRICS economies.
In the keynote address at the Inaugural BRICS MSME Forum, MSME Secretary Bharat Khera highlighted the pivotal role of MSMEs in fostering economic resilience, innovation and inclusive development across BRICS nations. He emphasised the need to move beyond dialogue towards actionable cooperation in critical areas such as access to finance, technology adoption, digitalisation, sustainability and integration into global value chains. He also showcased India's digital public infrastructure as a transformative tool for empowering small businesses and called for deeper BRICS collaboration to build a stronger, more innovative, sustainable and globally competitive MSME ecosystem.
On the occasion, delegates also reiterated the vital role of MSMEs as engines of economic growth, employment generation, innovation and inclusive development. They emphasised the need for enhanced cooperation among BRICS nations to promote resilient supply chains, foster digital transformation and facilitate knowledge sharing for the benefit of MSMEs worldwide, the statement added.
— IANS
Reader Comments
I hope this isn't just another photo-op with fancy speeches. Our small vendors and local artisans in villages need real support - easier loans, digital training, and market access. Talk is cheap, action matters. Let's see how this translates on the ground.
Great initiative! India's digital public infrastructure like UPI and GSTN is indeed world-class. If we can share these tools with other BRICS nations and learn from their successes, our MSMEs can truly go global. The exhibition showcasing MSME diversity sounds fantastic.
As someone working with Indian MSME suppliers, this is encouraging news. The focus on sustainable supply chains and digital transformation is exactly what's needed. I'm curious to see how China's involvement plays out given trade tensions - hopefully this forum transcends politics.
My family runs a small textile unit in Tirupur - we've been struggling with raw material costs and tech upgrades. If BRICS cooperation means better access to sustainable technology and global markets, this is a blessing. Hope the government fast-tracks these initiatives. 🤞
Impressive that India is hosting this and leading the conversation on MSME development. The 'Sustainable Roots to Global Routes' theme is apt - we need to build strong local foundations before expanding internationally. Kudos to the Ministry of MSMEs for this effort.
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