Shri Piyush Goyal calls for better access to credit markets and predictable trade rules.
Union Minister of Commerce and Industry, Shri Piyush Goyal has called on BRICS countries to work together to expand opportunities for women entrepreneurs and women-led enterprises in international trade. Addressing the BRICS Women’s Business Alliance Women-Led Development Conference in New Delhi on September 9, he identified access to credit buyers and markets and predictable business rules as three key challenges for entrepreneurs entering international business.
Goyal highlighted India’s efforts to strengthen women’s financial inclusion. He said nearly 300 million bank accounts have been opened for women while around 100 million rural women are members of nine million self-help groups cooperatives and other women’s collectives. He also said more than 30 million women now earn over Rs. 1 lakh in personal income and are referred to as ‘Lakhpati Didis’.
On market access, Goyal referred to the BRICS agreement to explore a common platform for international trade. He said the platform could help connect businesses with buyers across member countries and enable financial intermediaries to support women entrepreneurs and small businesses. He also called for greater participation of women-owned enterprises in exhibitions buyer-seller meets and sector-specific business delegations.
Goyal further called for predictable trade rules and greater use of digital trade documentation including e-invoices electronic bills of lading and e-customs declarations. He urged BRICS countries to turn the proposed Women’s Advancement Fund into a concrete initiative and ensure that work on an invoice-discounting platform reflects the needs of women exporters.
He also highlighted opportunities for women entrepreneurs and MSMEs in services and the digital economy. Goyal called for greater trade in services among BRICS countries and encouraged businesses to identify specific documentation and procedural barriers along with practical solutions that could help governments simplify trade processes.
Source: Press Information Bureau
