BRICS nations back easier trade access for MSMEs: welcomes study on short-term financing

In most nations MSMEs form a crucial part of the economy. BRICS nations have reiterated their commitment to strengthening their MSME sector and also decided to back studies of identifying short-term affordable financing to catalyse their growth as well as participation of MSMEs in cross-border value chains.

Kolkata: BRICS nations have identified areas and processes to push for internationalisation of MSMEs (micro, small and medium enterprises). in the New Delhi Declaration adopted at the BRICS Summit chaired by India, BRICS nations have identified the question of access of MSMEs to affordable finance as a major obstacle in their progress and decided to pave the path smooth. “We reaffirm our commitment to strengthening the internationalisation of Micro, Small and Medium Enterprises (MSMEs) as a driver of economic growth and prosperity. We acknowledge that access to affordable finance remains a primary bottleneck and structural........

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