The Union Ministry of Commerce and Industry announced a push to help women-led businesses access global trade opportunities through greater cooperation among BRICS nations. Commerce Minister Shri Piyush Goyal, speaking at the BRICS WBA Women-Led Development Conference in New Delhi, called for coordinated action to remove barriers that women entrepreneurs face when entering international markets.
What the Ministry is Proposing
Shri Goyal identified three core challenges for women entrepreneurs seeking to do international business: access to credit, access to buyers and markets, and access to predictable business rules. To address these, he made four concrete suggestions for BRICS countries to pursue by 2030.
- A common BRICS trade platform where product requirements and invoices can be shared across member countries, helping women exporters find buyers
- A Women’s Advancement Fund to be turned into a concrete initiative, with greater focus on invoice discounting platforms for women exporters
- More participation of women-owned enterprises in BRICS exhibitions, fairs, forums and sector-specific buyer-seller meets, with annual progress reporting
- A common platform for electronic trade documents, e-invoices, electronic bills of lading and e-customs declarations to simplify cross-border transactions
Shri Goyal highlighted India’s experience in financial inclusion. India has opened nearly 300 million bank accounts for women, provided collateral-free loans to small entrepreneurs (with over 68 per cent going to women), and helped around 100 million rural women join self-help groups. The number of women earning over Rs. 1 lakh annually has crossed 30 million.
He also emphasised greater services trade among BRICS nations, noting that global services trade reaches almost USD 10 trillion while BRICS members have untapped potential in this sector.
What This Means for You
If you are a woman entrepreneur or run a small business, these proposals aim to make it easier to export across BRICS countries by reducing documentation, improving access to credit and creating more formal channels to connect with international buyers. India’s government procurement platform and One District, One Product scheme show how such initiatives work in practice, enabling small producers to reach distant markets. The focus on services trade also opens possibilities for women in digital economy roles and service-based businesses.