India and South Africa recently engaged in discussions to enhance cooperation in the MSME sector, recognizing its crucial role in economic growth and job creation. The meeting, led by India’s MSME Minister Jitan Ram Manjhi and South Africa’s Minister of Small Business Development Stella Tembisa Ndabeni, focused on various areas of collaboration. Both countries emphasized the importance of fostering a conducive environment for the growth and competitiveness of MSMEs.
The discussions highlighted the significance of bridging the technology gap through digital inclusion, innovation enhancement, and technology readiness of MSMEs to integrate them into global value chains. This was emphasized during the ‘SME Working Group Meeting’ organized by the Ministry of MSME under the ‘BRICS Partnership on the New Industrial Revolution (PartNIR).’ The event facilitated knowledge sharing and best practices exchange among BRICS Member Countries, emphasizing the pivotal role of MSMEs in economic progress and inclusive development.
Furthermore, the meeting stressed the need for deeper cooperation among BRICS economies in technology access, innovation ecosystems, and skills development for MSMEs. The deliberations aimed at fostering policy exchange among nations with similar developmental challenges and reinforcing the commitment to building resilient and globally competitive MSME sectors across BRICS economies.
