FISME urges BRICS to unlock trade finance, technology for MSMEs

India's micro, small and medium enterprise sector is seeking more substantive support from BRICS cooperation frameworks, with the Federation of Indian Micro and Small & Medium Enterprises (FISME) emphasizing the need for practical trade finance solutions and technology access.

FISME has urged BRICS member nations to develop structured mechanisms that would facilitate easier cross-border trade, investment flows, and technology transfers for smaller firms. The federation argued that current cooperation largely remains confined to experience-sharing and policy dialogue without translating into actionable benefits for the MSME sector.

Access to affordable trade finance has emerged as a critical bottleneck for Indian MSMEs seeking to expand into international markets. Similarly, the digital and technological divide continues to limit smaller enterprises' ability to compete globally and enhance productivity. FISME contended that BRICS nations, collectively representing significant economic weight and technological capacity, are uniquely positioned to bridge these gaps.

The federation's appeal reflects growing recognition that MSMEs form the backbone of employment and economic activity across South and Southeast Asia. Enabling this segment's participation in regional and global trade could significantly accelerate economic growth across BRICS economies.

FISME's recommendations are expected to be considered during upcoming BRICS forums and ministerial discussions focused on fostering economic cooperation and inclusive growth among member states.