India Seeks Stronger BRICS Cooperation To Support MSME Growth

New Delhi, Jun 22 (KNN) India has called on BRICS member nations to deepen cooperation in supporting micro, small and medium enterprises (MSMEs), stressing that such collaboration could drive inclusive growth and create jobs across member economies.

Union Minister for MSMEs Jitan Ram Manjhi while addressing the BRICS MSME Forum said India's MSME sector currently comprises around 8.5 crore units employing nearly 40 crore people — underscoring the sector's scale and strategic importance.

He noted, "MSMEs are central to achieving inclusive and sustainable economic development. The challenges facing enterprises today whether related to financing, technology adoption, sustainability or market access require collaborative solutions. BRICS countries possess immense strengths and complementary capabilities." 

Focus on Collaboration and Policy Support

Ministry of MSME Secretary Bharat Khera noted, "MSMEs are not merely economic units; they are engines of innovation, employment, entrepreneurship and regional development. As BRICS economies continue to expand their global influence, there is immense potential for collaboration in areas such as technology adoption, sustainable manufacturing, digital transformation, skilling, and market access." 

Yogita Swaroop, Principal Economic Adviser, DPIIT, stressed the need for policy coordination and enabling frameworks to support enterprise growth.

"The future of economic growth will increasingly be driven by innovative and agile enterprises. MSMEs occupy a pivotal position in this transformation. Strengthening ease of doing business, improving access to finance, fostering innovation ecosystems and facilitating international market linkages will be critical in unlocking the next phase of growth across BRICS economies," she said.

Uttar Pradesh’s MSME Footprint

Uttar Pradesh MSME Minister Bhupendra Chaudhary highlighted that the state alone hosts around 96 lakh MSME units, employing 1.65 crore million people, positioning it as one of India's fastest-growing economic regions.

“Our focus remains on creating an enabling ecosystem through infrastructure development, policy support, skill enhancement and digital empowerment. The exchange of global best practices through platforms such as the BRICS MSME Forum will further strengthen these efforts," Chaudhary said.

Forum Brings Together 60 Nations' Delegates

The three-day forum, held in Agra, drew approximately 60 delegates from BRICS nations and 150 sector officials. Senior officials from India's Ministry of MSME and DPIIT also addressed delegates, stressing the need for stronger policy coordination, digital transformation and easier access to international markets.

The forum followed the 3rd BRICS SME Working Group Meeting and is being attended by policymakers, industry leaders and entrepreneurs from both member and partner countries.

(KNN Bureau)